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NGOs slam industry inaction over child labour

This content was published on Sep 20, 2011 Non-governmental organisations say the Harkin-Engel Protocol signed on September 19, 2001 by eight top companies – including Swiss groups Nestlé and Barry Callebaut – has not been adequately enforced and now needs to be legally binding to make a difference. The international coalition of NGOs, 10-Campaign, say importing countries must also do their part by…

New book lifts lid on commodities giants

This content was published on Sep 20, 2011 The Berne Declaration this week published a book that takes an in-depth look at the notoriously secretive industry. Critics want to see changes, especially tighter regulations, but the Swiss authorities appear happy with the status quo. According to “Commodities: Switzerland’s Most Dangerous Business”, the sector has witnessed a “meteoric” rise: a 15-fold increase in trade…

A promising substance is being developed in groundbreaking research at a Basel lab

This content was published on Sep 20, 2011

Economic growth projections revised downwards

This content was published on Sep 20, 2011 Citing a deteriorating economic outlook for Switzerland over the past few months, Seco economists also reduced their estimates for projected growth of the Swiss economy next year from 1.5 per cent to 0.9 per cent. This is Seco’s second consecutive downward correction for 2012. In its June quarterly forecast the projected growth rate for next…

Pieces fall into place in tax evasion jigsaw

This content was published on Sep 19, 2011 It was announced on Monday that Credit Suisse had settled with the Public Prosecutor’s Office in Dusseldorf, Germany (to the tune of €150 million or SFr180 million) to avoid tax evasion proceedings against its employees in Germany. The deal was made public only two days before the signing of a withholding tax settlement between Germany…

UBS stops all advertising

This content was published on Sep 19, 2011 According to the Swiss media news website, Klein Report, the decision was taken due to the negative publicity. Peter Hartmeier, head of corporate communications at UBS Switzerland, told Klein Report that advertising the company’s services “based on trust and expertise” made no sense before all the facts into the case had come to light. Hartmeier…

Swiss first to use gold in securities payments

This content was published on Sep 19, 2011 SIX Securities Services announced the plans after the successful settlement of transactions involving gold with a pilot set of customers. The Swiss stock exchange and Scoach Switzerland, the stock market for structured products, plan to introduce the listing and trading of products in XAU gold units (equal to one troy ounce of gold) in October.…

Paranal’s giant eye peers into the universe

This content was published on Sep 19, 2011 swissinfo.ch visited the hi-tech facilities in northern Chile, run by the European Southern Observatory intergovernmental research organisation – of which Switzerland is a member – to find out why they provide such ideal conditions for professional star-gazers. It’s half past seven in the evening when the most advanced optical observatory in the world – the…

Roche halts drug deliveries to Greek hospitals

This content was published on Sep 19, 2011 Roche managing director Severin Schwan said some Greek hospitals had not paid their bills for three or four years. “We have arrived at a point where we can no longer conduct business normally,” Schwan said. Since Roche stopped deliveries in the summer, certain hospitals had begun to pay their bills because they realised their reputations…

UBS losses bigger than first thought

This content was published on Sep 18, 2011 In a statement issued on Sunday the bank said it had now covered the risk resulting from the unauthorised trading, and “the equities business is again operating normally within its previously defined risk limits.” “As previously stated, no client positions were affected.” It said the loss had resulted from “unauthorized speculative trading” over the last…

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NGOs slam industry inaction over child labour

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New book lifts lid on commodities giants

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A promising substance is being developed in groundbreaking research at a Basel lab

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Economic growth projections revised downwards

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Pieces fall into place in tax evasion jigsaw

More

UBS stops all advertising

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Swiss first to use gold in securities payments

More

Paranal’s giant eye peers into the universe

More

Roche halts drug deliveries to Greek hospitals

More

UBS losses bigger than first thought

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