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Developing economy banks move to Switzerland

This content was published on May 20, 2010 Brazil’s Itau private bank is the latest enterprise to apply for a Swiss banking licence as financial institutions in developing economies recognise the value in capturing the assets of wealthy locals that are managed in Switzerland. Speculation was rife at the height of the financial crisis that the ranks of foreign banks in Switzerland would…

Telecom companies challenge merger ban

This content was published on May 20, 2010 The two telecommunications companies have filed an appeal with the federal administrative court, a spokeswoman for Orange told the Swiss News Agency on Thursday. The Swiss foundation for consumer protection has expressed its dismay. In a statement issued on Thursday, the foundation described Orange and Sunrise as stubborn for failing to consider the welfare of…

Swiss upgrade safety in road tunnels

This content was published on May 20, 2010 The office said on Thursday that 126 of the 220 tunnels did not conform or only partially conformed to the latest safety norms. However, it added that Swiss tunnels were among the safest in the world. Efforts to improve road tunnel safety have been made throughout Europe since fatal accidents in 1999 and 2001 in…

SMEs start to find their feet again

This content was published on May 20, 2010 The bank noted that although SMEs are reporting an improvement in business, profits and employment decreased “modestly” in the first quarter. While SMEs in the industrial, service and retail sectors expected turnover to increase in the second quarter, and the building sector saw sales levelling off at last year’s figures, tourism continued to fear declining…

IMD tells Switzerland to keep on competing

This content was published on May 20, 2010 The IMD in Lausanne ranks Switzerland behind Singapore, Hong Kong and the United States in its 2010 world study of 58 nations. While praising the basic solid fundamentals of the Swiss economy, the IMD says business executives believe the country’s “image abroad has been tarnished and the risk factor in the financial system was magnified”.…

Novartis to pay millions for sex discrimination

This content was published on May 19, 2010 The damages are to be divided between about 5,600 women employees of the Novartis Pharmaceuticals Corporation, a United States affiliate of the Novartis group, covered by the 2004 class action lawsuit. Another $3.36 million in compensatory damages was awarded to 12 former sales reps who testified on behalf of others in the joint suit. On…

Prices for EU goods could drop in July

This content was published on May 19, 2010 Swiss ministers in Bern decided to implement the Cassis de Dijon principle, an agreement that says products legally made in the EU can be freely sold in other EU markets, as long as there is no public health risk. Switzerland, which is not an EU member but has numerous agreements with the bloc, generally sells…

Swiss business dismisses EU membership

This content was published on May 19, 2010 But the banking community now appears ready to explore the extension of bilateral ties to include financial services to avoid being frozen out by the threat of increasingly protectionist EU regulation. The report by the Swiss Business Federation, economiesuisse, that was released in Zurich on Tuesday, ruled out the prospect of Switzerland becoming a full…

Initiative encourages workers to stay at home

This content was published on May 18, 2010 However, it could also be the start of a full workday for people whose jobs and employers allow them to telecommute. May 18 is Switzerland’s first national Home Office Day. Launched with the blessing of Transport Minister Moritz Leuenberger, the idea is to give office workers some flexibility while giving the environment a break. “I’m…

Novartis found guilty of sex discrimination

This content was published on May 18, 2010 At the end of a six-week trial on Monday it awarded compensatory damages of $3.3 million (SFr3.74 million) to 12 women, and punitive damages to a larger group. The class action lawsuit – representing 5,600 women – alleged that the women were discriminated against in the areas of pay, promotions, and pregnancy-related matters. They are…

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Internal: Archive

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Developing economy banks move to Switzerland

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Telecom companies challenge merger ban

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Swiss upgrade safety in road tunnels

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SMEs start to find their feet again

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IMD tells Switzerland to keep on competing

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Novartis to pay millions for sex discrimination

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Prices for EU goods could drop in July

More

Swiss business dismisses EU membership

More

Initiative encourages workers to stay at home

More

Novartis found guilty of sex discrimination

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