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Vekselberg takes on ministry after huge fine

This content was published on Sep 15, 2010 Vekselberg and two co-accused will fight the combined SFr120 million ($120 million) penalty at a court hearing starting on Wednesday. The verdict could have significant repercussions for the future regulation of share transactions. Experts say the result of the proceedings will test the credibility of the finance ministry as the guardian of fair stock market…

Banfi’s world

This content was published on Sep 14, 2010 As a professional underwater photographer, Banfi has spent much of his life exploring a mesmerizing world that thrives beneath the waves. His images reveal a beautiful, captivating environment where humans are at best short-term guests. “I don’t mind cold places, fresh or salt,” says the Ticino-based lensman, who has shot the bottoms of icebergs in…

Restoring UBS reputation “hinges on actions”

This content was published on Sep 14, 2010 The bank hopes to take advantage of a recent upturn in its fortunes with a public relations offensive. But the success or failure of this slick presentation campaign depends on what lies beneath its surface. UBS has suffered a spectacular fall from grace in the past two years after writing off more than $50 billion…

Banks await “Swiss finish” to Basel III rules

This content was published on Sep 13, 2010 UBS and Credit Suisse must still wait for the results of a Swiss report into the “too-big-to-fail” issue later this month before they can assess the implications for their business. The Basel III reforms, hammered out on Sunday but yet to be rubber stamped later this year, lay down measures designed to help prevent another…

Holcim agrees to $650m Venezuela compensation

This content was published on Sep 13, 2010 The St Gallen-based firm says the agreement signed with the Latin American country includes the suspension of an arbitration case before an international tribunal. The company said in a statement on Monday that it had received a first payment of $260 million and expects to receive the remaining $390 million in four equal yearly instalments.…

Swiss billionaire turns 100

This content was published on Sep 13, 2010 Haefner’s fortune has been estimated at SFr3.3 billion ($3.26 billion) by the US business magazine Forbes, placing him 287 on its list of the world’s richest people. He is also the oldest person worth more than $1 billion. The Zurich-born entrepreneur made his money in CA, formerly Computer Associates, an IT software maker. In Switzerland,…

Bank reform deal sealed in Basel

This content was published on Sep 12, 2010 The delegates met at the Bank for International Settlements (BIS) in Basel on Sunday to hammer out the details of the deal. The Basel III reform is meant to ensure that banks have enough capital to sustain tough times without government aid. The group, chaired by European Central Bank President Jean-Claude Trichet, had yet to…

Swiss design anti-wolf collar for sheep

This content was published on Sep 11, 2010 A Swiss student and a well-known wolf expert have joined forces to start developing a device that can monitor a sheep’s pulse and then release a powerful repellent to scare off a predator in the event of an attack. “Our project is still in its preliminary phase,” explained Fabien Matter, a student of infotronics [analogue…

Searching for a sound solution to aircraft noise

This content was published on Sep 10, 2010 On Thursday the General Court of the European Union in Luxembourg upheld a 2003 ruling of the European Commission that Germany was acting within its rights in imposing night time restrictions on low-altitude flights over its airspace. The problem for Switzerland is that the flights affected are those using Zurich airport, the country’s biggest, which…

German president focuses on science and research

This content was published on Sep 9, 2010 On Thursday morning Wulff and his wife were introduced to some of the wonders of solar cell technology at the Federal Institute of Technology Lausanne (EPFL), where award-winning German scientist Michael Grätzel demonstrated how a solar cell painted red with rosehip tea could produce enough energy to turn a small wheel. Grätzel is one of…

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Vekselberg takes on ministry after huge fine

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Banfi’s world

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Restoring UBS reputation “hinges on actions”

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Banks await “Swiss finish” to Basel III rules

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Holcim agrees to $650m Venezuela compensation

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Swiss billionaire turns 100

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Bank reform deal sealed in Basel

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Swiss design anti-wolf collar for sheep

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Searching for a sound solution to aircraft noise

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German president focuses on science and research

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