Tag Archives: 3.) Swiss Info

The Novartis offices in Basel, Switzerland. Keystone / Georgios Kefalas Swiss pharma company Novartis will pay $729 million (CHF688 million) to US authorities in an out-of-court settlement over various charges, including that the company bribed doctors to use its drugs. Audrey Strauss, the acting Manhattan US Attorney, said the firm had paid out for “speaking fees, exorbitant meals, and top-shelf alcohol that were nothing more than bribes to get doctors across the...

There are now around 4.6 million cars in Switzerland, almost 50% more than in 1990. © Keystone / Michael Buholzer Switzerland’s emissions have declined over the last 30 years, but not enough to meet the national targets set for 2020. What’s behind the gap? By 2020, greenhouse gas emissions in Switzerland should be down by 20% from what they were in 1990. That’s the target outlined in the federal CO2 law. While figures are only available until 2018, the federal...

Since April, over 190,000 companies have applied for short-time compensation for nearly two million employees – around 36% of the workforce in Switzerland. Keystone / Gian Ehrenzeller The Federal Council is extending short-term unemployment benefits by another six months and plans to help cushion financial losses faced by public transport. On Wednesday, the government announced that it is extending the maximum period for receiving partial unemployment support from 12...

A sculpture outside the Guggenheim Museum in Bilbao, one of the destinations that SWISS is flying to again from Zurich Keystone / Luis Tejido Swiss International Air Lines (SWISS) has published its flight schedules up to October 24, the end of the summer timetable. As well as resuming service to more network destinations, it plans to intensify its frequencies on routes already restored in both its short-haul and long-haul networks. The Swiss national airline said on...

Tally Weijl, which sells clothing for women and teenage girls, was founded in 1984 Keystone / Georgios Kefalas Swiss fashion chain Tally Weijl will close 200 of its 800 stores internationally and withdraw completely from Bulgaria. In Switzerland, it will close between five and ten of its 81 stores. However, the company says it has secured financing. The Basel-based retail chain said in a statement on Monday its aim was to strengthen its online presence and retain...

The goal of sustainable finance is to divert more funds into environmentally and socially responsible projects. Keystone / Laurent Darbellay Extra rules will only be imposed on the sustainable finance sector if banks fail to properly police themselves, says the Swiss government. The hands-off regulatory approach to ethical investing has been welcomed by financial players, but criticised by NGOs. Unveiling a report on sustainable finance on Friday, Finance Minister...

The Swiss gold refining industry has once again come under scrutiny with a report that criticises the lack of control over imports of the precious metal. The Federal Audit Office says it is too easy for illegal imports to enter the country and that sanctions are inadequate. Most of the world’s gold passes through Switzerland to be transformed from raw material and refined. It’s a business that can range in value between CHF60 and CHF90 billion ($70-90 billion)...

The hospitality sector including restaurants were one of the biggest recipients of financial support during the crisis. Keystone / Pablo Gianinazzi An interim report on government pay-outs to businesses during the Covid-19 crisis has revealed that there is suspected abuse in less than 1% of cases. Тhe Federal Audit Office investigated some 94,000 coronavirus loans amounting to CHF11.4 billion ($12 billion). It found indications of abuse in about 400 cases, which...

A hotel in Zurich: there are a lot less jobs going in this sector right now. Keystone / Gaetan Bally New job offers have dropped by over a quarter in Switzerland due to the Covid-19 pandemic, with hotel, restaurant, and personal services sectors worst hit. Between April and June, job postings went down by 27%, the human resources firm Adecco Switzerland reported on Tuesday. Anna von Ow, a University of Zurich researcher who worked on the report, said the collapse in...

Roche’s HQ, overlooking the Rhine river in Basel. Keystone / Georgios Kefalas It was the start of one of the most unusual cross-cultural marriages when Roche bought a controlling stake in Chugai Pharmaceutical for $1.4bn back in 2002, promising arm’s length management. In the course of the 18 months of negotiations it took to reach a deal, Chugai, a Japanese pioneer in biotechnology, presented a single sheet of paper with a list of conditions it would not budge on,...