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Unemployment continues decline in April

This content was published on May 6, 2011 A statement issued by the State Secretariat for Economic Affairs (Seco) on Friday said the number of people looking for work in April declined by 16,796 and now stood at 181,041. Unemployment levels among young people (aged 16-24) dropped 13.5 per cent to 16,722 from March to April. Youth unemployment has fallen by 32.4 per…

UBS client files complaint in Strasbourg

This content was published on May 5, 2011 He objects to having his account information revealed to the American tax authorities under the administrative assistance agreement between Switzerland and the United States. More specifically he cites violations of his right to privacy and of the principle of equal treatment. In early March, he was among a number of clients whose appeals were rejected…

Swiss scientists eye Europe research prize

This content was published on May 5, 2011 The finalists, selected from 21 entries, showcase future and emerging technologies (FET). The Swiss innovations focus on the brain, personal health and predicting disasters. The announcement of the finalists was made in the Hungarian capital Budapest on Wednesday, where the elite of European science and technology is gathered for the FET11 conference and exhibition, which…

UBS settles US rigged bids case

This content was published on May 5, 2011 UBS admitted and accepted responsibility for illegal, anti-competitive conduct by former employees from 2001-2006 in contracts for cities and towns in 24 states, the US Justice Department said on Wednesday. The local governments were looking to invest their proceeds from municipal bond sales – issued to build schools, hospitals and roads – and former UBS…

Swiss-led research in line for EU award

This content was published on May 4, 2011 The European Commission announced on Wednesday the six finalists for its FET flagship projects, which it describes as “dedicated to frontier research in information and communication technologies”. The goal of the Human Brain Project (HBP), one of the EPFL finalists, is to simulate the human brain. The work has revolutionary implications not only for medicine…

Quotas remain for Bulgarians and Romanians

This content was published on May 4, 2011 Wednesday’s announcement comes only four days after quotas were lifted for eight European Union countries which joined the EU in 2004. Bulgaria and Romania became members in 2007. Both eastern European countries, through their EU membership, have benefited since 2009 from Switzerland’s treaty with the EU on the free movement of people. However, a clause…

Glencore announces share float

This content was published on May 4, 2011 The company says it aims to sell its shares for between $8-$9.67 on the London Stock Exchange starting May 24. A secondary flotation is planned for Hong Kong a day later. Glencore aims to raise about $10 billion from the initial public offering that will catapult it straight into the FTSE 100 on the first…

Actelion to appeal against $547-million fine

This content was published on May 4, 2011 A jury in the Superior Court of the State of California awarded Asahi $547 million (SFr472 million) in compensatory damages as well as punitive damages against individual officers of Actelion. In a statement released one day ahead of its annual general meeting, the group, Europe’s largest of its kind and based near Basel, said that…

Swiss companies underpaying foreign workers

This content was published on May 3, 2011 The report on the control measures which were set up alongside the extension of free movement of people to new European Union members shows that more than a third of companies with collective work agreements were caught underpaying foreign staff. The State Secretariat for Economic Affairs (Seco), which compiled and presented the report, says the…

Date rape drug seized by customs

This content was published on May 3, 2011 The amount is equal to 75,000 two-millilitre doses of the substance, which is also often taken for recreational use. It has been listed as an illegal drug in Switzerland since 2002. Most such synthetic drugs are ordered over the internet and delivered by post to Switzerland, according to the Federal Health Office. Suppliers are based…

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