Word: zuricher
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...Sweat It If euro price inflation is making you sweat, better wear gloves. Researchers at the University of Zurich have found that one- and two-euro coins can cause bad skin reactions when exposed to sweat, releasing 320 times the amount of nickel allowed under E.U. rules...
...Back to Basics H Switzerland's Zurich Financial Services will ax 4,500 jobs as it tries to cut $1 billion in costs. The company, which lost billions after an aggressive expansion, is returning to its insurance roots...
...former bank economist and the Swiss member of the parliament spearheading a move to add banking secrecy to the constitution as a fundamental right. The proposal by his Swiss People?s Party is now working its way through parliamentary committees, but already it has won significant support. Two cantons, Zurich and Aargau, have voted to back the initiative, and several other cantons are considering throwing their weight behind it too. With polls conducted earlier this year showing that three in four Swiss support banking secrecy, any attempt to persuade the citizens to lift it "doesn?t stand a ghost...
...accounts belonging to relatives of the former Nigerian dictator Sani Abacha. And it was the Swiss in the autumn of 2000 who tipped off Peru that Vladimiro Lenin Montesinos Torres, the former head of Peruvian intelligence, had stashed away about $114 million in five Swiss accounts. Judicial authorities in Zurich blocked the accounts after the banks themselves reported their suspicions. The Swiss ambassador in Lima then informed the Peruvian government and urged it to open an international criminal investigation, with which Switzerland cooperated. In addition, it was fierce international pressure that led the Swiss to disclose information about thousands...
...Along Zurich?s Bahnhofstrasse, home to the nation?s biggest banks and priciest jewelers, nerves are fraying. These are tough times for the Swiss financial services sector, which accounts for more than 10% of the nation?s gross domestic product and approximately 6% of jobs. The long slide of world stock markets is taking its toll on profitability and forcing bankers to work particularly hard to calm their well-heeled clients. Swiss banks have also borne the brunt of a successful tax amnesty mounted earlier this year by Giulio Tremonti, Italy?s Finance Minister. Italians repatriated assets valued...