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Watch industry took a hammering in May

This content was published on Jun 23, 2009 Manufacturers reported sales of SFr1.1 billion ($1.01 billion) in the month of May, bringing the 2009 total to SFr5 billion, one quarter less than the same period in 2008. The Federation of the Swiss Watch Industry said the upper price bracket of over SFr3,000 was the worst affected, crumbling by more than 35 per cent…

US probe for bank data is “unacceptable”

This content was published on Jun 22, 2009 Speaking at the annual general meeting of the Swiss-American Chamber of Commerce in Rüschlikon on Monday, Widmer-Schlumpf said it was “unacceptable” for the US to push for the release of confidential bank data related to 52,000 customers at the bank. Swiss-US agreements should be respected even if the bank had committed inexcusable errors in its…

New top banker to fight for confidentiality

This content was published on Jun 22, 2009 Patrick Odier will take over from the charismatic, but sometimes controversial, Pierre Mirabaud in September following the incumbent’s surprise decision to step down. Switzerland is still engaged in an ongoing battle to defend the traditional anonymity of banking clients from several countries, including Germany, France and the United States – backed by the Organisation for…

Swiss can’t live without their cars

This content was published on Jun 22, 2009 However, the poll also found that awareness of the environmental impact of cars had risen by more than ten per cent compared with the last report in 2007. The survey, conducted on behalf of the Swiss Association of Car Importers, Auto-Switzerland, asked 1,005 people about their attitudes towards their vehicles for the third time since…

Scientists pinpoint ice loss in glaciers

This content was published on Jun 22, 2009 But they also found that glaciers in the country have lost 12 per cent of their volume over the last decade. Until now, researchers have been able to estimate only roughly how much ice is stored in Swiss glaciers and how this has changed over the years, said Martin Funk, head of the glaciology department…

Charity called on to support unemployed

This content was published on Jun 21, 2009 Swiss Solidarity, a charity led by swissinfo.ch’s parent body, the Swiss Broadcasting Corporation, is best known for raising money to help the victims of natural disasters, both at home and abroad. A spokesman, Roland Jeanneret, said the charity was looking at different models to support the unemployed, saying the first hardship cases were not likely…

US and Switzerland agree to new tax treaty

This content was published on Jun 19, 2009 The Swiss finance ministry announced on Friday that the two sides initialed a new agreement after a second round of negotiations in Washington, which lasted three days. The treaty, in general terms, will “permit an exchange of information on tax matters in individual cases where a specific and justified request has been made”, the ministry…

Salaries to increase by 2.6 per cent this year

This content was published on Jun 19, 2009 The Federal Statistics Office said on Friday that the increase is the largest since 2004. Workers at the lowest end of the pay scale will get a boost of 3.2 per cent. About one-quarter of Switzerland’s workforce is under collective bargaining agreements. Employees in the communications sector will see the largest rise (+3.8 per cent),…

Swiss airline “well placed” to weather crisis

This content was published on Jun 19, 2009 Profits and passenger numbers have recently declined for Swiss International Air Lines but it appears in better shape than many rivals and has added destinations while investing in new aircraft, premium seats and lounges. Swiss has all but buried the bad memories of the collapse of its predecessor, Swissair, since it was saved by a…

Goliath banks should be “cut down to size”

This content was published on Jun 18, 2009 Philipp Hildebrand said the country’s two big banks, UBS and Credit Suisse, still faced a perilous situation despite measures being taken to reduce their risks. Speaking at the half-yearly conference of the Swiss National Bank (SNB) in Bern on Thursday, vice-president Hildebrand called for new international regulations to deal with large failed financial institutions by…

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Watch industry took a hammering in May

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US probe for bank data is “unacceptable”

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New top banker to fight for confidentiality

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Swiss can’t live without their cars

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Scientists pinpoint ice loss in glaciers

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Charity called on to support unemployed

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US and Switzerland agree to new tax treaty

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Salaries to increase by 2.6 per cent this year

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Swiss airline “well placed” to weather crisis

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Goliath banks should be “cut down to size”

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