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Franc hits profits of two chemical makers

This content was published on Jul 27, 2011 Basel-based specialty chemicals company Clariant on Wednesday posted a rise in net profit to SFr40 million ($49.80 million), but this was lower than had been forecast. Clariant warned in its statement that raw material prices would rise in the second half after a sharp increase in the second quarter. The chemicals maker Lonza Group, also…

UBS staff fear more heads will roll

This content was published on Jul 26, 2011 With rumours circulating in the media that rival Credit Suisse will give details of a staffing cull on Thursday, the portents are once again looking particularly grim for workers in the Swiss financial sector. UBS did not give details of how it would make savings of between SFr1.5 billion and SFr2 billion, announced as the…

Carbon footprint contracts slightly

This content was published on Jul 26, 2011 The Federal Environment Office said carbon dioxide emissions from heating oil and gas dropped by one per cent between 2009 and 2010, while those from petrol and diesel saw a reduction of 0.4 per cent. The environment office said emissions from heating oil and gas were nearly 13 per cent lower than in 1990, while…

LHC: visionary project or waste of money?

This content was published on Jul 26, 2011 The greatest scientific folly of all time or the most visionary project ever attempted by mankind. How do you think Cern's Large Hadron Collider will be viewed in 20 years?

Farmers urge payment over E.coli crisis

This content was published on Jul 26, 2011 The Swiss Association of Vegetable Farmers said the funds would help cover the costs of the vegetables, including cucumbers and tomatoes, destroyed. The association added the market still had not fully recovered after a four-week slump in consumer demand. The Federal Agriculture Office said it agreed with the calculations, but it was up to politicians…

UBS scraps earning goals after profit drops

This content was published on Jul 26, 2011 The Zurich-based bank says net profit attributable to shareholders fell to SFr1.02 billion ($1.27 billion) compared with SFr2 billion in the same period last year. “We believe we will deliver higher profitability, our target for pretax profit set in 2009 is unlikely to be achieved in the original timeframe of three to five years,” a…

Rightwing puts immigration on election agenda

This content was published on Jul 26, 2011 The launch of the party’s initiative, which comes less than three months ahead of October’s parliamentary elections, has prompted unanimous opposition from other political parties and the business community. Proponents have 18 months to collect the necessary signatures to force a nationwide vote on the issue. It is the latest in a series of initiatives…

Cern hopes to find “God particle” by 2012

This content was published on Jul 25, 2011 Cern director Rolf Heuer says the latest findings from the world’s most powerful particle accelerator, the Large Hadron Collider, have been enough to convince the centre that progress is being made in their hunt for the most sought-after of particles – the Higgs boson. “I would say we can settle the question, the Shakespearean question…

Swiss wine, made in Italy

This content was published on Jul 24, 2011 The neighbor’s vines grew out of ground covered in brown, dead weeds. He had given up on the natural, no-chemical bio (organic) approach after his first year, which had been disastrous. Marcel has had his disastrous years, too: in 2008 he lost his entire crop of grapes when rain fell at the wrong moment of…

More Credit Suisse bankers charged in US

This content was published on Jul 22, 2011 Prosecutors originally charged four people involved in the scheme in February; Thursday’s announcement brings the total number of people charged up to eight. The US Justice Department wrote in February that as of late 2008 Credit Suisse was maintaining thousands of secret accounts for US customers with as much as $3 billion (SFr2.5 billion) in…

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