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Jobless rise prompts fears but no panic

This content was published on Jan 8, 2010 The number of people out of work rose by 8,790 in December to a total of 172,740 – an unemployment rate of 4.4 per cent not seen since 1998. However, this is less than half the Eurozone average of 9.8 per cent. The latest jobless figures, released by the State Secretariat for Economic Affairs (Seco)…

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…

Trucks stopped at snow-hit tunnel approaches

This content was published on Jan 8, 2010 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 on Friday. Up to 20cm of snow fell in central and northern Ticino on Thursday night. Forecasters said a depression over the southern Alps could bring…

Monthly jobless rate reaches 12-year high

This content was published on Jan 8, 2010 The number of jobless went up by 8,790 from November’s figure to a total of 172,740. In contrast, in the same period last year the number dropped by 2,112. Over the entire year the number of unemployed in Switzerland rose by 45.5 per cent, according to the State Secretariat for Economic Affairs (Seco). The number…

Swiss Post arrives at crossroads in digital age

This content was published on Jan 8, 2010 Two board members and the CEO have all left Swiss Post in recent weeks, mainly in disagreement over the group’s business strategy. Newly appointed chairman Claude Béglé is an advocate for change and wants the government-owned entity to diversify and seek out foreign sources of revenue. Béglé was recently quoted as saying he wanted to…

“Party over” for optimistic retailers

This content was published on Jan 7, 2010 Surprisingly buoyant consumer demand helped prop up the Swiss economy in 2009. But observers believe a period of belt tightening will herald the end of the good times for high street shops. Economists at Credit Suisse bank, together with consultancy firm Fuhrer & Hotz, have forecast a 0.5 per cent decline in retail revenues this…

Consumer index shows deflation is still a risk

This content was published on Jan 7, 2010 Figures published on Thursday show that the consumer price index rose 0.3 per cent compared with a year ago but was 0.2 per cent lower than for November. Average inflation for 2009 was -0.5 per cent, dipping into negative territory for the first time in 50 years. “It shows that inflationary pressures are very limited,…

Swiss seek to improve biodiversity reputation

This content was published on Jan 7, 2010 A damning 2007 report by the Organisation for Economic Co-operation and Development (OECD) found more animal and plants were threatened or had disappeared in Switzerland than in anywhere else in Europe. To mark the United Nations designated biodiversity year, the Swiss environment ministry and various non-governmental organisations have teamed up to develop a series of…

Rethinking the way we drive now

This content was published on Jan 6, 2010 Readers of one of Switzerland’s major Sunday newspapers had a shock last weekend: petrol could go up by seven centimes a litre, the headline warned. The German-language SonntagsZeitung featured an interview with Rudolf Dieterle, head of the Federal Roads Office, which set out the stark choices likely to face the Swiss motorist in the new…

UBS client sentenced in New Jersey

This content was published on Jan 6, 2010 A New Jersey court handed down a five year suspended sentence, a $60,000 fine and 300 hours community service. The man had admitted to defrauding the government of $6.1 million in unpaid taxes. The wealthy UBS client avoided prison after providing the US government with substantial help in advancing the major criminal tax fraud probe.…

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Jobless rise prompts fears but no panic

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Court rules UBS data transfer to US illegal

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Trucks stopped at snow-hit tunnel approaches

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Monthly jobless rate reaches 12-year high

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Swiss Post arrives at crossroads in digital age

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“Party over” for optimistic retailers

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Consumer index shows deflation is still a risk

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Swiss seek to improve biodiversity reputation

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Rethinking the way we drive now

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UBS client sentenced in New Jersey

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