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Regulator flexes muscles to protect investors

This content was published on Nov 24, 2010 The news follows an announcement two weeks ago by the Financial Market Supervisory Authority (Finma) that it would crack down on operations giving misleading or false information on the products they sell. Small retail investors in Switzerland have long endured a rough ride at the hands of the country’s powerful financial sector, according to watchdogs.…

Chinese visitors get bank card service

This content was published on Nov 24, 2010 SIX Multipay, Switzerland’s biggest provider of systems for card-based payments, said it had concluded an agreement with China’s only bank card organisation, China UnionPay. According to a statement issued by SIX Multipay, there are currently about 2.1 billion China UnionPay cards in circulation. “Merchants that decide to accept UnionPay cards gain access to considerable sales…

UBS in firing line over Madoff fraud

This content was published on Nov 24, 2010 The complaint against UBS was filed in the US bankruptcy court in New York on Wednesday by Irving Picard, the trustee overseeing the liquidation of Madoff’s investment firm. Picard claims that UBS and “related entities and individuals” helped to spread Madoff’s pyramid scheme to European investors and played an important role in masking the fraud.…

Basel’s 16th-century superstar

This content was published on Nov 24, 2010 Instead Thurneysser used what was available to him in the 16th century: he made himself the subject of a stunning stained-glass window cycle. But such showing off did not go down well with the good burghers of Basel. The cycle is now the subject of the Thurneysser Superstar exhibition at Basel’s Kunstmuseum. Curator Bodo Brinkmann…

Help online for disabled job seekers

This content was published on Nov 24, 2010 The foundation said on Wednesday that it wants to bring employers and job seekers together, and to motivate and encourage disabled people to look for work. The platform, using the slogan “Jobs for the disabled – the disabled for jobs”, provides information and advice, and enables job seekers to register their profiles and search job…

Swiss grandmas keep New Yorkers warm

This content was published on Nov 22, 2010 For fashion-conscious New Yorkers eager to look hot even when the weather is cool, the Swiss company Ikou Tschüss has an unconventional solution – high fashion hand knitted by Swiss Omas. “We work with Swiss grandmothers because they know how to knit really well. I can’t knit the way a grandmother can,” Carmen D’Apollonio, a…

Feeding pigs with leftovers will be forbidden

This content was published on Nov 22, 2010 Restaurants and canteens will also be affected, since the 300,000 tonnes of food waste they generate a year is mostly fed to pigs. The measure was put to consultation until Monday. Although the measure was criticised as non-ecological and non-economical, Switzerland has no choice, but to comply with bilateral agreements. The aim of the ban…

United States market proves a legal minefield

This content was published on Nov 21, 2010 Pharmaceutical company Novartis paid $422 million (SFr420 million) in September, the same month that engineering concern ABB handed over $58.3 million. Zurich Financial Services paid $455 million in October, which means that Swiss bank UBS is not alone in losing out on the US market. UBS was handed a penalty of $780 million in a…

Federal Railways CEO expects annual price hikes

This content was published on Nov 21, 2010 CEO Andreas Meyer expects that in future, there will be annual increases in the cost of train travel in Switzerland. In a Sunday interview with the NZZ am Sonntag newspaper, Meyer said that customers would have to share the financial burden of investing in new infrastructure and trains – noting that the federal government had…

Stonewalling between unions and builders

This content was published on Nov 20, 2010 Meanwhile, the builders maintain that it’s a good deal compared with the wages earned by other craftsmen, not to mention inflation and the “miserable” profit situation. A seemingly insurmountable 1.7 percentage points lie between the builders’ offer and the demands of the unions, who are calling for a additional SFr150 ($151) per month. With an…

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Regulator flexes muscles to protect investors

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Chinese visitors get bank card service

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UBS in firing line over Madoff fraud

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Basel’s 16th-century superstar

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Help online for disabled job seekers

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Swiss grandmas keep New Yorkers warm

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Feeding pigs with leftovers will be forbidden

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United States market proves a legal minefield

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Federal Railways CEO expects annual price hikes

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Stonewalling between unions and builders

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