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New tests corroborate light speed problem

This content was published on Nov 18, 2011 Scientists working on the OPERA experiment at the Geneva headquarters of the European Organization for Nuclear Research (Cern) said on Friday they had used a new type of proton beam to propel neutrinos through the earth’s crust to a laboratory in Italy 730 kilometres away. “With this new type of beam produced by Cern’s particle…

Rescue service questions new competition

This content was published on Nov 18, 2011 The non-profit Swiss Air Rescue Service (Rega), which is a member of the Swiss Red Cross, has described the motoring association’s offer as superfluous. This week, TCS announced its partnership with Alpine Air Ambulance (AAA), a Zurich-based enterprise. TCS owns a 49 per cent share in AAA, which gives it access to three emergency helicopters…

UBS takes knife to scandal-hit investment bank

This content was published on Nov 17, 2011 The bank has announced 400 extra job cuts while pledging to slash risky assets by half and exit loss-making businesses. UBS is to place more emphasis on its “core DNA” of wealth management, says chief executive Sergio Ermotti. Thursday’s announcement, made in New York at UBS’s annual investor day strategy conference, came as no surprise…

Zurich court gives hope to whistleblower

This content was published on Nov 17, 2011 In January a lower court gave Elmer a suspended fine of SFr7,200 ($7,832) for handing confidential data on clients of the private Julius Bär bank to the tax authorities, and for threatening some of his former colleagues after he was sacked in 2002. Elmer, who worked for the bank in the Cayman Islands, maintains that…

UBS to shed investment banking jobs

This content was published on Nov 17, 2011 Some 2,000 jobs are to go in the investment bank by the end of 2016 leaving it with a staff of 16,000, the bank said in a statement issued ahead of Thursday’s Investor Day event in New York. Sergio Ermotti, who was confirmed as CEO earlier this week, said UBS was acting from a position…

Unions pressure Fifa on Qatar workers’ rights

This content was published on Nov 17, 2011 Switzerland’s largest trade union, Unia, joined forces with the International Trade Union Confederation (ITUC) to petition Fifa General Secretary Jerome Valcke on Thursday about labour rights in Qatar. If their concerns were not taken seriously, the unions threatened Fifa with an international campaign against Qatar’s hosting of the 2022 event. “Migrant workers in Qatar have no labour…

“Big Bang” machine to get big upgrade

This content was published on Nov 17, 2011 International physicists launched the major programme for the Large Hadron Collider (LHC), which runs around a 27 kilometre circular tunnel under the border of Switzerland and France, on Wednesday. Cern officials said the effort, which involves scientific establishments in the European Union, the United States and Japan, would require the development of new technologies in…

Tax evasion pressure maintained on Switzerland

This content was published on Nov 16, 2011 The latest moves by Germany, France, the United States, the G20 group of powerful nations and the European Union demonstrate that the renegotiation of tax treaties will not make the issue go away. Swiss banks have vowed to end their practice of providing safe haven to undeclared assets while the government has signed dozens of…

Facebook opens for federal employees again

This content was published on Nov 16, 2011 Access was barred two years ago following a survey that found that Facebook was the second most visited website by federal employees. A spokesman for the Federal Information Technology Office said the final decision to lift the ban was up to each ministry. He said workers in the departments under Transport, Communications, and Energy Minister…

Bern approves change to tax accord with US

This content was published on Nov 16, 2011 The move comes as Switzerland finds itself under increasing pressure from the US to hand over more information on banking clients suspected of evading taxes. The 1996 double taxation agreement between the two countries did not cover the current US practice of demanding data of batches of unnamed banking clients. Switzerland feared that such clients…

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New tests corroborate light speed problem

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Rescue service questions new competition

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UBS takes knife to scandal-hit investment bank

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Zurich court gives hope to whistleblower

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UBS to shed investment banking jobs

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Unions pressure Fifa on Qatar workers’ rights

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“Big Bang” machine to get big upgrade

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Tax evasion pressure maintained on Switzerland

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Facebook opens for federal employees again

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Bern approves change to tax accord with US

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