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Independent publishers are left in a bind

This content was published on Apr 28, 2010 But in fact life is tough for Switzerland’s independent publishers, with rising costs and growing competition from big publishing groups. The owners of Zurich’s well-regarded Amman Verlag announced recently that they are closing in June, provoking a flurry of questions in the media about the fate of similar companies. Switzerland has some 200 independents, which…

Volcano serves timely air freight warning

This content was published on Apr 27, 2010 About a third of all Swiss exports, amounting to some SFr60 billion ($56 billion) a year, travel by plane. Industry experts warn that flight restrictions and infrastructure shortfalls could damage Switzerland’s competitiveness. Swiss companies managed to negotiate the volcano-related flight ban without sustaining serious losses, a conference at Zurich airport heard on Tuesday. Longer lasting…

Victims’ group launches anti-racer initiative

This content was published on Apr 27, 2010 On Tuesday, the road accident prevention group RoadCross launched a signature-collecting campaign for its “Protection from Racers” initiative. The initiative already has the backing of a number of parliamentarians. “Racers destroy families, so we have to ban them from the streets,” Radical Party parliamentarian Peter Malama told a news conference in Bern on Tuesday. Malama…

Public broadcaster runs up increasing deficits

This content was published on Apr 27, 2010 At a news conference in Bern, the SBC described its financial situation as “critical” because of structural deficits. It added that a government decision on finances for the period 2011-2014 would be crucial. The corporation, which has a public service mandate, said that this year’s loss would climb to SFr75 million because of two major…

Second Swiss restaurant joins ranks of elite

This content was published on Apr 27, 2010 The new entry this year is the Schloss Schauenstein at Fürstenau in canton Graubünden, which enters at 30th in the rankings of London’s Restaurant Magazine. It joins the Hôtel de Ville in Crissier, canton Vaud, which has improved its position by two places and ranks 14th. It is run by Phillipe Rochat. The chef at…

Radical Party distances itself from big banks

This content was published on Apr 26, 2010 In a statement issued on Monday, the party took issue with Credit Suisse, whose CEO Brady Dougan is to receive a bonus of SFr17.9 million ($16.6 million) for the year 2009. According to the Radical Party, the sum does not reflect the work performed or the business risk involved. The party’s executive committee recommends that…

UBS settles case with US hospital group

This content was published on Apr 26, 2010 The litigation came in the wake of an estimated $2.7 billion accounting fraud at the Alabama-based HealthSouth. UBS insurers will pay $117 million to HealthSouth shareholders and $100 million to bondholders. UK accounting firm Ernst & Young LLP has also agreed to pay a settlement of $33.5 million to the bondholders. According to court documents,…

Why Switzerland’s wealth is all relative

This content was published on Apr 26, 2010 According to a 2006 report issued by the World Bank and entitled “Where is the Wealth of Nations?”, Switzerland is indeed the richest, with theoretical assets of $648,000 (SFr 688, 500) per capita. That was long before the financial crisis that started in 2008, and whose consequences are still being very much felt. A speaker…

Swiss turn down proposal for tax on banks

This content was published on Apr 25, 2010 Hans-Rudolf Merz told journalists that Switzerland’s case of helping a bank in trouble was different from that of other countries which had come to the rescue of their financial institutions. The idea for such a tax has the support of countries that include the United States and Britain. While the IMF maintains that the world…

Trade unions demand stable financial sector

This content was published on Apr 24, 2010 The political left has for decades been demanding tax equality and an end to banking secrecy to prevent people profiting from tax evasion. However, the details of a proposed “clean assets” strategy are far from concrete. Pressure from other countries led the government to decide a year ago that it could do away with the…

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Independent publishers are left in a bind

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Volcano serves timely air freight warning

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Victims’ group launches anti-racer initiative

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Public broadcaster runs up increasing deficits

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Second Swiss restaurant joins ranks of elite

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Radical Party distances itself from big banks

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UBS settles case with US hospital group

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Why Switzerland’s wealth is all relative

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Swiss turn down proposal for tax on banks

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Trade unions demand stable financial sector

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