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Unlawful UBS data deal adds to legal headache

This content was published on Jan 11, 2010 Last week’s decision against Switzerland’s financial regulator has led to speculation about possible legal actions from disgruntled US clients of UBS against the state and even the bank itself. The federal administrative court said on Friday that the Swiss Financial and Market Supervisory Authority (Finma) had acted illegally when it transferred the detail of 285…

ETH researchers break record for new companies

This content was published on Jan 11, 2010 The institute said in a statement that it was “striking” that four out of the spin-offi were created in the “cleantech” sector. Clean technology stands for any products, processes and services that use few natural resources and reduce the negative impact on the environment. As the ETH explained, the four cleantech companies come from different…

Hands off pension fund, say unions

This content was published on Jan 11, 2010 Swiss voters will go to the polls on March 7 to accept or reject a proposal to lower the rate used to calculate payments of the occupational pension scheme. The cut of about 0.6 per cent within a six year period would mean pensioners would receive up to SFr150 ($147) less a month, said union…

Snow-hit Geneva airport reopens

This content was published on Jan 10, 2010 Flights started again at midday, spokesman Bertrand Stämpfli told Swiss radio. It is the first time in 25 years that the airport had to be closed for such a long time, he added. Around ten centimetres of snow had to be removed. As a result, 70 flights were not able to take place during the…

Mountain doctors face steep slope

This content was published on Jan 10, 2010 Experts say these important family doctors, who in addition to serving remote communities often work on mountain rescue missions, are a dying breed. They are calling for more efforts to make the job more attractive. Initiatives, such as an online platform to help mountain medics find cover, are also proving useful. “We still have more…

Smoking ban linked to drop in heart attacks

This content was published on Jan 9, 2010 These first Swiss results come after similar findings in other countries, and constitute yet another indication that cigarettes play an important role in cardiac disease. The smoking ban was introduced in canton Graubünden in March 2008. According to the study’s authors, although there is no clear correlation between the ban and cases of acute myocardial…

UBS whistle-blower begins jail term in US

This content was published on Jan 8, 2010 Bradley Birkenfeld, who handled wealthy American UBS clients from 2001 to 2006, pleaded guilty in June 2008 to a single count of conspiracy to defraud the US and was sentenced to more than three years in prison. The 44 year old said his cooperation exposed “the largest tax fraud in the world” and should have…

Court rules UBS data transfer to US illegal

This content was published on Jan 8, 2010 The federal administrative court said the Swiss Financial and Market Supervisory Authority (Finma) abused its power when it ordered that details of 285 account holders suspected of tax evasion in the US be sent to Washington. “Finma could not base its decision on emergency rights enshrined in the constitution,” a statement said on Friday. The…

Finma chief defends UBS data transfer to US

This content was published on Jan 8, 2010 Eugen Haltiner’s comments to a newspaper on Saturday come a day after the federal administrative court said Finma abused its power when it ordered that confidential details of 285 account holders suspected of tax evasion in the US be sent to Washington. The court ruled that Finma could not base its decision to hand over…

Truck drivers advised to avoid Switzerland

This content was published on Jan 8, 2010 In the morning, trucks from Italy were being stopped at the Chiasso-Brogeda border point and those travelling south were redirected to waiting bays on the A2 motorway, the Federal Roads Authority said. Although the tunnels were reopened around midday, trucks are only being let through in small numbers and there are warnings of long delays.…

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Unlawful UBS data deal adds to legal headache

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ETH researchers break record for new companies

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Hands off pension fund, say unions

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Snow-hit Geneva airport reopens

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Mountain doctors face steep slope

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Smoking ban linked to drop in heart attacks

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UBS whistle-blower begins jail term in US

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Court rules UBS data transfer to US illegal

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Finma chief defends UBS data transfer to US

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Truck drivers advised to avoid Switzerland

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