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Vekselberg victor in Oerlikon power struggle

This content was published on May 13, 2008 Vekselberg’s holding company Renova holds a 39 per cent stake in the company after striking a deal with Austrian investors Ronny Pecik and Georg Stumpf. Stumpf stood down as chairman on Tuesday. The company, best known for its industrial coatings and solar activities, has been troubled by boardroom turbulence since a hostile takeover by Pecik…

Welfare rolls expand slightly

This content was published on May 13, 2008 Government figures indicate that more than 245,000 people, or 3.3 per cent of the population (3.2 per cent in 2005), received financial assistance that year. The rate stagnated or declined slightly in many cantons. The statistics office said that the improved economy and job prospects had had an impact on welfare. But it added that…

Royal jewels and rare watches up for grabs

This content was published on May 13, 2008 This week Geneva’s auction houses are holding their spring sales with jewellery, luxury watches and vintage wine valued at more than SFr140 million ($133.7 million) up for auction. On Monday Christie’s sold a pair of Patek Philippe wristwatches for a combined SFr7.3 million, each setting world records after doubling their lower initial estimates. In all,…

UBS to face bombings lawsuit

This content was published on May 13, 2008 The lawsuit, filed in New York, accuses the bank of helping fund the organisations behind the attacks through dealings with Iran. It seeks damages for more than 50 United States citizens who were injured in Israel between 1997 and 2006 or for relatives of people killed. US government reports say Hezbollah, Hamas and Palestinian Islamic…

Switzerland records first over-60 mothers

This content was published on May 11, 2008 The two 61-year-old mothers, one of whom had twins, will no doubt be receiving special attention this Mother’s Day. But their actions have reopened the debate on how far fertility treatment should defy natural limits. The women, who remain anonymous, became pregnant after being implanted abroad with embryos conceived from donor eggs, a procedure which…

Ban on animal meal to be overturned

This content was published on May 10, 2008 In Switzerland and the rest of Europe, manufacturers are preparing for production again and the authorities are promising to enforce the strictest safety standards. The feed will only be given to chickens and pigs, and they will not be chewing on fodder produced from their own species. “There will be no authorisation [for production] without…

Computer security under increased threat

This content was published on May 9, 2008 The Reporting and Analysis Centre for Information Assurance said on Friday that firewalls and anti-virus software alone are not sufficient to protect computers from attacks or sensitive company documents from theft. Internet criminals no longer try to penetrate firewalls but are increasingly “picking the soft spot inside and that’s the user,” Marc Henauer, head of…

Computer security under increased threat

This content was published on May 9, 2008 The Reporting and Analysis Centre for Information Assurance said on Friday in its semi-annual report that activities such as data theft and the distribution of malicious software are on the rise. The agency said that cyber criminals are often one step ahead of anti-virus software and that users cannot solely rely on technology alone to…

Economy remains robust

This content was published on May 8, 2008 Released on Thursday, the results of two surveys – by bank UBS and the Swiss Economic Institute KOF – found that the economy was still buoyant. However a majority of branches said the economy was beginning to lose steam, KOF said in a statement, even if they remained confident in the short term. Export companies,…

EU withholding tax proceeds grow

This content was published on May 8, 2008 The withholding tax on savings accounts of EU citizens added up to SFr653 million ($618 million) last year, SFr116 million more than in 2006. A 15 per cent levy is taken from interest earned on savings accounts and distributed to EU countries unless clients can prove they already pay the tax in their home country.…

Internal: Archive

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Internal: Archive

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Vekselberg victor in Oerlikon power struggle

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Welfare rolls expand slightly

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Royal jewels and rare watches up for grabs

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UBS to face bombings lawsuit

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Switzerland records first over-60 mothers

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Ban on animal meal to be overturned

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Computer security under increased threat

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Computer security under increased threat

More

Economy remains robust

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EU withholding tax proceeds grow

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