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Press council upholds entrapment complaint

This content was published on Nov 22, 2011 The press council said on Tuesday that an article published by the French-speaking edition of 20minutes in April had used “unfair methods” in obtaining the article. The article was accompanied by a blurred photo of the man – a teacher and Geneva-based politician – and detailed how he had had invited a journalist, posing as…

Rich cast nervous eye at inheritance tax plan

This content was published on Nov 22, 2011 The people’s initiative, backed by a coalition of left leaning parties, aims a broadside at the assets of multi-millionaires by insisting that they relinquish a fifth of their wealth when it is passed on to the next generation. The expected SFr3 billion ($3.27 billion) in extra tax revenues would help plug a growing hole in…

Alstom found guilty in three cases of bribery

This content was published on Nov 22, 2011 The Swiss Federal Prosecutor’s Office said on Tuesday Alstom Network Schweiz AG had been fined SFr2.5 million ($2.74 million) and ordered to pay SFr36.4 million in compensation relating to three cases where it had failed to prevent the bribery of foreign officials in Latvia, Tunisia and Malaysia. The punishment comes after investigations into the company’s…

Susanne Ruoff named new head of Swiss Post

This content was published on Nov 22, 2011 Swiss Post said in a statement that Ruoff’s prior management experience with international corporation IBM and as ceo of British Telecom’s Swiss subsidiary would strengthen the executive management team of the organisation. “Owing to her pronounced competencies in the digital realm, Susanne Ruoff can crucially strengthen Swiss Post’s executive management in view of future challenges,”…

Swiss firms get good palm oil report cards

This content was published on Nov 22, 2011 WWF assessed the palm oil buying practices of 132 companies in Europe, Australia and Japan to gauge their commitment to buying and using sustainably produced palm oil. This was the second assessment since the first one in 2009. The Palm Oil Buyers’ Scorecard measured the performance of major retailers and consumer goods manufacturers in regard…

Swiss accounts of L’Oréal heiress uncovered

This content was published on Nov 21, 2011 A total of 12 secret accounts worldwide were identified, containing around €100 million (SFr124 million) at the end of 2010, according to the Mediapart news website. The accounts were housed in six financial institutions – including Switzerland’s UBS, Julius Bär, Hyposwiss and Banque cantonale Vaudoise. Others are held at Baring Brothers and the Singapore branch…

Strong franc claims more jobs in paper industry

This content was published on Nov 21, 2011 The Zug-based group announced on Monday that 212 of 312 full time jobs would go from the start of 2012 and raw paper production would be phased out by the end of 2013. Future activities will focus on producing specialised paper that result in higher profit margins. The group will also move production more to…

New accord signed on central bank profits

This content was published on Nov 21, 2011 The agreement will cover the financial years 2011 to 2015. The SNB said in a statement on Monday that if the distribution reserve is positive, it would make an annual distribution payment of SFr1 billion ($1.09 billion) to the confederation and the cantons. However, the bank warned that it was “unclear when the next distribution…

Pressure grows for underground power lines

This content was published on Nov 21, 2011 Attempts to move to more underground cables have had little political success. But the situation is changing. In Switzerland, battles are taking place that most people are unaware of. These are not conflicts over land or natural resources but over power lines and whether to prevent their proliferation. Swissgrid, the national electricity grid operator, estimates…

UBS chief says bank in “position of strength”

This content was published on Nov 20, 2011 But he warned in an interview with the NZZ am Sonntag newspaper that the bank, which has recently been hit by a rogue-trading scandal, could not eliminate risk totally. UBS announced on November 17 that it would will dramatically cut back its investment bank as well as slash risky assets by almost a half. It…

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Press council upholds entrapment complaint

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Rich cast nervous eye at inheritance tax plan

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Alstom found guilty in three cases of bribery

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Susanne Ruoff named new head of Swiss Post

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Swiss firms get good palm oil report cards

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Swiss accounts of L’Oréal heiress uncovered

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Strong franc claims more jobs in paper industry

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New accord signed on central bank profits

More

Pressure grows for underground power lines

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UBS chief says bank in “position of strength”

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