ZURICH, March 11 (Reuters) – Swiss voters rejected a
proposal to increase employees’ annual minimum paid holiday
entitlement to six from four weeks on Sunday after firms warned
it might hurt competitiveness and threaten jobs.
The initiative was put forward by trade union
Travail.Suisse, which argued that four weeks holiday was
insufficient because the pressure of work had increased so much
in recent decades, causing rising stress and health problems.
ZURICH (Reuters) – Swiss National Bank board member Jean-Pierre Danthine faced growing criticism on Sunday, over transactions uncovered by an audit launched after central bank chief Philipp Hildebrand was forced to quit after a big currency trade by his wife.
Christoph Blocher, a senior figure in the right-wing Swiss People’s Party who led calls in January for Hildebrand’s head, told Der Sonntag newspaper Danthine might have to go too.
BASEL, Switzerland, Feb 23 (Reuters) – Swiss private
bank Sarasin, rattled by uncertainty over its ownership
and a data leak on the account of the former central bank head,
expects clients to withdraw more assets this year as it seeks to
make sure all their accounts are taxed.
Sarasin said clients withdrew a net 2.4 billion Swiss francs
($2.63 billion) in the second half of 2011 as assets under
management slipped 6.7 percent in 2011 to 96.4 billion francs,
mainly due to sluggish market performance.