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Bertarelli ranked richest Swiss on Forbes list

This content was published on Mar 13, 2009 The magazine found that the number of billionaires dropped from 1,125 in 2008 to 793 in 2009 under the global financial crisis. “Like the rest of us, the richest people in the world have endured a financial disaster over the past year,” Forbes noted. Bertarelli, former head of the biotechnology group Serono, climbed from 75th…

Historic euro gains on franc after rate cuts

This content was published on Mar 13, 2009 The euro shot up over three per cent from SFr1.48 to SFr1.53 on news that the Swiss National Bank had cut its base rate to a record low of 0.25 per cent. The target range for the three-month Libor (London Interbank Offered Rate) was lowered by 25 basis points to 0 – 0.75 per cent.…

Future of banking secrecy under debate

This content was published on Mar 13, 2009 Switzerland is under pressure to ease banking secrecy laws as other alleged tax havens say they will amend their laws, and the government is expected to make some concessions. Finance Minister Hans-Rudolf Merz has said the government is willing to improve international cooperation to combat tax offences. Merz said Switzerland could be affected by Liechtenstein’s…

Child labour threatens chocolate’s sweet image

This content was published on Mar 12, 2009 The Swiss non-governmental organisation Berne Declaration has launched a campaign to encourage the country’s chocolate producers to do more to ensure the cocoa they buy comes from ethical sources. On the cusp of the Easter season the group has released images of chocolate bunny rabbits crying blood, with the slogan, “child labour is put into…

Alpine countries battle pollution

This content was published on Mar 12, 2009 He told an alpine conference in the French town of Evian that the Swiss idea for a reservation system for heavy goods trucks crossing the Alps – known as the Alpine Crossing Exchange – would reduce CO2 emissions in the narrow alpine valleys. But he stressed that Switzerland was not planning to cut the number…

Roche grabs Genentech deal amid fusion frenzy

This content was published on Mar 12, 2009 Roche, which already owns 56 per cent of the biotech firm, will buy the remaining stake if Genentech shareholders end a protracted takeover battle by agreeing to a $46.8 billion (SFr54 billion) valuation. News of the agreement between the two company boardrooms came after an unsuccessful Roche offer last year followed by a lower hostile…

Testosterone doping test “not fit for purpose”

This content was published on Mar 12, 2009 Scientists at Lausanne’s anti-doping laboratory claim that tests commonly administered to top-tier athletes to detect testosterone should be replaced by a system that tracks a competitor’s biological patterns. The study, published in the British Journal of Sports Medicine, claims the test is “not fit for purpose”. It was funded by Fifa, football’s international governing body,…

Epitestosterone

This content was published on Mar 12, 2009 Epitestosterone is a natural steroid with a chemical composition only slightly different from testosterone. The ratio of epitestosterone to testosterone in a healthy male is usually 1:1. Injecting testosterone into an athlete’s body as a sports-enhancing measure does not change the levels of epitestosterone. Therefore, changes in the ratio between the two compounds can provide…

Swatch sees profits drop but better days ahead

This content was published on Mar 12, 2009 Despite the downturn, consumer demand for its watches is strong. In a report issued on Thursday, the company said that its gross sales reached nearly SFr6 billion, a record. The announcement spoke of a “fundamental confidence” that sales will pick up again in the second half of 2009. Profits fell to SFr838 million in 2008,…

Roche buys Genentech for $46.8 billion

This content was published on Mar 12, 2009 Board members at Genentech, a California-based company, agreed to sell Roche all outstanding shares for $95 each in cash. It is one of the most expensive deals in the history of the Swiss economy. The deal ends a drawn-out battle that began last year and turned hostile for several months after Roche’s initial bid was…

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Bertarelli ranked richest Swiss on Forbes list

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Historic euro gains on franc after rate cuts

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Future of banking secrecy under debate

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Child labour threatens chocolate’s sweet image

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Alpine countries battle pollution

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Roche grabs Genentech deal amid fusion frenzy

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Testosterone doping test “not fit for purpose”

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Epitestosterone

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Swatch sees profits drop but better days ahead

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Roche buys Genentech for $46.8 billion

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