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Swiss industry gets back on track

This content was published on Jun 17, 2010 Production figures for the first quarter of 2010 are up 5.3 per cent compared with the start of 2009, according to a report released by the Federal Statistics Office on Thursday. Turnover is up 3.1 per cent. There was also a 13.1 per cent rise in orders received. Consumer products experienced the strongest growth. The…

Tiny technology takes on Gulf’s big oil problem

This content was published on Jun 16, 2010 HeiQ, a start-up based in central Switzerland, confirmed it has been in discussions with officials in the United States about its fleece that can separate oil from water. President Barack Obama toured the shores of Mississippi and Alabama on Monday seeking to boost morale in the southern states. The Swiss product was selected from some…

American citizens contest reporting rules

This content was published on Jun 16, 2010 According to the ACA, the legislation, called the Foreign Account Tax Compliance Act (FATCA) will have a severe, negative impact on American citizens living and working around the world. This week the ACA sent a 13-page letter outlining its concerns to the Internal Revenue Service (IRS), members of Congress and other key figures, including President…

More women than men work at interior ministry

This content was published on Jun 15, 2010 The percentage of women working at the federal ministry in 2009 was 51.8 per cent, whereas in 1993 it was just 31.5 per cent. The number of women at the ministry has grown 65 per cent in 18 years. In the higher wage bracket the number of women has trebled. In the top wage group,…

House approves UBS-IRS deal with big caveat

This content was published on Jun 15, 2010 Parliamentarians on Tuesday voted 81-61 to approve the controversial treaty with 53 abstentions and one sizeable hiccup: they also voted 106-80 to allow a possible referendum on the matter. The House’s decision was critical, as a “no” would have sunk the whole deal, which the government says is crucial toward maintaining a healthy economic position…

Nestlé sues over Nespresso-styled capsules

This content was published on Jun 15, 2010 The Sara Lee Corporation is being prosecuted in France for patent infringement, Nestlé said in a statement on Tuesday. “We appreciate fair competition,” said the group, adding however that it would “always take the necessary steps to defend intellectual property”. Sara Lee has sold 12 million of its own version of the coffee capsules, named…

No cheap way out for Transocean

This content was published on Jun 15, 2010 A federal judge in Houston, Texas, ruled on Monday that the owner of the Deepwater Horizon oil rig that exploded and sank cannot use a 159-year-old maritime law to cap its damages at $27 million (SFr30.8 million). The Limitation of Liability Act of 1851 states that a vessel owner is only liable for the post-accident…

Economy forecast to grow by 1.9 per cent

This content was published on Jun 14, 2010 The Swiss Business Federation, economiesuisse, on Monday predicted economic growth of 1.9 per cent for this year and 1.6 per cent for next year. In 2009 growth declined by 1.6 per cent. Economiesuisse said the Swiss economy had weathered the storm relatively well compared with other countries, and the moderate increase in unemployment had helped…

Brazil puts Switzerland on financial blacklist

This content was published on Jun 14, 2010 The Swiss finance ministry has confirmed reports in the NZZ am Sonntag newspaper, adding that it had asked the Swiss ambassador in Brazil “to express the Swiss authorities’ surprise” to the relevant ministries. The Brazilian decision is linked to a deal between Switzerland and the United States that would enable the handover of data on…

Foreign graduates allowed to job hunt

This content was published on Jun 12, 2010 Both parliamentary chambers have decided to allow foreign graduates to stay on for six months after their studies. Currently, foreigners attending Swiss universities must return home after the final bell rings. That’s a missed opportunity, according to supporters of the motion, which passed the Senate on Monday with a vote of 28 to eight. “Switzerland…

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