Geneva

Geneva Motor Show to highlight greener, smaller cars

Geneva Motor Show to highlight greener, smaller carsGeneva  - Next month's Geneva Motor Show is expected to be a little more upbeat than the gloomy Detroit event in January, where manufacturers displayed their cars on poorly-lit stands or stayed away altogether.

Analysts expect car makers to showcase "green" concepts during the show March 5-15 that will hopefully lift them out of the worst crisis in the industry for decades. The trend is toward electric cars, hybrid models, downsized combustion engines and smaller cars.

CERN pushes back particle accelerator restart date

Geneva - Scientists have again pushed back the restart date of the giant particle accelerator along the French-Swiss border by another six weeks, CERN announced, saying even this schedule was "tight."

By September, the Large Hadron Collider (LHC) should be operational again with particle collisions set to take place about a month later, the announcement made late Monday said.

The LHC, operated by the European Organization for Nuclear Research - known by its French acronym CERN - has been turned off since September last year following a malfunction which caused damage to integral parts just about a week after the first experiment.

Red Cross warns Zimbabwe past "worst case scenario"

swiss flagGeneva - Warning that the cholera crisis in Zimbabwe had surpassed the initially estimated "worst case scenario," the International Federation of Red Cross Societies said Tuesday that it was also concerned the outbreak would spread more aggressively to other countries.

"We have reached more than the worst case scenario for Zimbabwe," said John Roach, the head of the IFRC's Africa division, noting that the number of suspected cases was on the verge of the 70,000 mark.

UBS to cut jobs after larger-than-expected fourth quarter losses

Geneva - UBS, Switzerland's largest bank, announced restructuring plans on Tuesday after reporting losses of 8.1 billion Swiss francs (6.9 billion dollars) in the fourth quarter of 2008.

The bank's total 2008 losses amounted to more than 19.6 billion francs, going beyond the expectations of many analysts. The bank said it would cut an additional 2,000 jobs at its investment wing.

"UBS has had an encouraging start to the year," the bank reported in a statement, saying that it had positive net new money. "However, financial market conditions remain fragile as company and household cash flows continue to deteriorate."

Zurich drops tax breaks for wealthy foreigners

Zurich drops tax breaks for wealthy foreigners Geneva  - Though the biggest issue of Sunday's Swiss referendum was the open market and free movement agreements with Europe, other issues were also at stake, including a proposal to scrap a unique tax break for wealthy foreigners in Zurich.

Local media reported Monday that some 53 per cent of voters in Zurich, the financial hub of the Alpine country, voted to do away with a system that enabled wealthy foreigners to pay taxes as a lump sum, based on their home expenses and not their income.

China's economic advances praised, political elements criticized

China MapGeneva - China received praise Monday for economic growth, during a Uni

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