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UBS ordered to pay millions in damages

This content was published on Aug 5, 2010 An arbitration panel of the Financial Industry Regulatory Authority (Finra) made its award in favour of the Kajeet company of Maryland, which lost business when its cash was frozen in auction rate securities in early 2008. A UBS spokeswoman said the bank “strongly disagrees with the arbitration panel’s decision… and we will file a motion…

Transocean profit tumbles after rig loss

This content was published on Aug 5, 2010 The Swiss based contractor said profit was down to $715 million (SFr753 million) due to resulting legal costs and the reduced income. The profit was lower than expected but shares of the world’s largest offshore rig contractor rose by more than four per cent in late morning trading on Thursday in Zurich to SFr59.20, its…

Swiss hotels see increase in overnight stays

This content was published on Aug 4, 2010 According to figures released by the Federal Statistics Office on Wednesday, there were 17.5 million overnight stays between January and June. That shows a 2.1 per cent increase compared with those months in 2009. There was a 2.9 per cent rise in guests from Switzerland, who accounted for 7.5 million of those stays. There was…

Labour laws questioned as 24-hour shops shut

This content was published on Aug 4, 2010 For the past two years, seven petrol stations in canton Zurich have been defying a recently introduced law on late-night trading by opening their shops from 1-5am. But no longer. In July the Federal Court upheld a general ban on opening shops at petrol stations late at night, ruling that there could be no exceptions.…

Possibly oldest yet mammoth remains found

This content was published on Aug 4, 2010 The bones and tusks uncovered while dynamiting at the quarry are thought to be between 145,000 and 230,000 years old, cantonal archaeologists said. Previous mammoth remains found in the country only go back between 14,000 and 55,000 years. Mammoths became extinct in Europe and North America around 11,500 years ago. swissinfo.ch and agencies

Neverland lost

This content was published on Aug 4, 2010 This collection of photographs was never intended to be a book. In February 2009, Leutwyler flew to California on an assignment to photograph the iconic white glove of pop star Michael Jackson. When he arrived at the venue for the shoot, he had no idea what he’d find.

Swatch’s sales see large increase

This content was published on Aug 4, 2010 The group, which makes Swatch watches and owns a wide range of other Swiss brands, saw operating profit increase by 81.4 per cent to SFr626 million, and net income rise by 54.5 per cent to SFr465 million. “Growth has been solid in July, and we expect a strong result for the second half of 2010…

Scientific hot-air expedition to take off

This content was published on Aug 3, 2010 The expedition was delayed because of unfavourable weather conditions. A week after the arrival of Swiss scientists and pilots, the balloons were due to lift off in the morning. The two-week project launched by the Swiss company Balloon Team involves using an aerostat to fly over the Tanzanian volcano, where scientists will study aerosols, small…

Monte San Giorgio Unesco site gets a boost

This content was published on Aug 3, 2010 Monte San Giorgio is regarded as the best place for studying fossil marine life from the mid-Triassic period and may once have been a part of Africa. It has been a Unesco World Heritage site since 2003. The environment ministry said in a statement that it had been a joint Swiss-Italian project to boost the…

Millions affected by Pakistan floods

This content was published on Aug 3, 2010 A spokesman said that 1.3 million people in the northwest were particularly hard hit, triggering a flood of criticism directed at the government. Many of the victims, who have lost their homes and livelihoods, say that there were no official warnings. The nation has experienced the heaviest monsoon rains in memory and more rain is…

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UBS ordered to pay millions in damages

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Transocean profit tumbles after rig loss

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Swiss hotels see increase in overnight stays

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Labour laws questioned as 24-hour shops shut

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Possibly oldest yet mammoth remains found

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Neverland lost

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Swatch’s sales see large increase

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Scientific hot-air expedition to take off

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Monte San Giorgio Unesco site gets a boost

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Millions affected by Pakistan floods

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