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Shareholders pay for UBS fightback

This content was published on Dec 11, 2007 Experts are warning that shareholders will pay the price for a “panic reaction” aimed at keeping wealthy clients happy. The loss also puts chairman Marcel Ospel under increasing pressure. Switzerland’s largest bank had its fingers burned by the collapse of the American subprime mortgage business that lends to people with low credit ratings. It wrote…

Funding to help protect tropical forests

This content was published on Dec 11, 2007 The State Secretariat for Economic Affairs (Seco) announced it would provide SFr8.75 million ($7.75 million) towards the project, which was launched on the sidelines of the Bali climate conference on Tuesday. The Forest Carbon Partnership Facility (FCPF) is aimed at helping developing countries reduce greenhouse gas emissions from deforestation and degradation. According to Seco, almost…

Media take UBS to task over company situation

This content was published on Dec 11, 2007 The Swiss and international media questioned chairman Marcel Ospel’s role in the debacle – stopping short though of asking him outright to resign – and the decision to seek help from foreign investors. In a statement, Europe’s largest bank by assets announced on Monday it had revised its “assumptions and inputs” used to value US…

Question marks still hang over Kyoto accord

This content was published on Dec 11, 2007 To help meet its targets, Switzerland, like many other countries, has opted for a carbon credit trading system to reduce pollution. But environmentalists have questioned the practice, saying it is little more than a licence to pollute. The 175-nation Kyoto agreement requires 36 industrial nations to reduce greenhouse gases by an average of five per…

Brazilian peasants occupy Syngenta plants

This content was published on Dec 10, 2007 Hundreds of activists broke into a Syngenta plant in the state of Sao Paulo on Monday, expelling 50 employees and shutting down production, according to a company spokeswoman. Members of the Landless Rural Workers’ Movement (MST) and the allied group Via Campesina also destroyed genetically modified corn and soy seedlings at a Syngenta farm in…

Trade unions satisfied with wage talks

This content was published on Dec 10, 2007 Agreements have been reached that will result in wage increases of 2.5 per cent and more for many branches, the federation reported on Monday. “Taking into account company financial results and the gains in productivity, it was high time that the majority of wage earners receive such increases,” commented federation president Paul Rechsteiner at a…

UBS takes another major hit

This content was published on Dec 10, 2007 UBS said on Monday it expected a loss in the fourth quarter, adding it might show a loss for 2007 as a whole. At the same time, UBS said it was raising SFr13 billion in new capital by selling stakes to investors in Singapore and the Middle East. In a statement, Europe’s largest bank by…

Swiss design

This content was published on Dec 10, 2007 Every two years a jury of international design experts awards the Design Preis Schweiz. The competition is open to Swiss designers who are working either at home or abroad, as well as foreign designers working in Switzerland. A total of 300 projects were submitted in 2007 and 38 projects were recommended to the jury. The…

The top of Europe

This content was published on Dec 10, 2007 The Jungfraujoch in the Bernese Oberland is one of the most popular sites in Switzerland and is visited annually by half a million tourists who travel there by rail. One of them was photographer Severin Nowacki.

Faking it

This content was published on Dec 10, 2007 An exhibition in Bern’s Museum of Communication running until July 6, 2008 features more than 300 photos that have been tampered with – and why.

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Shareholders pay for UBS fightback

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Funding to help protect tropical forests

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Media take UBS to task over company situation

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Question marks still hang over Kyoto accord

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Brazilian peasants occupy Syngenta plants

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Trade unions satisfied with wage talks

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UBS takes another major hit

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Swiss design

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The top of Europe

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Faking it

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