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100-carat yellow diamond fetches $16 million at auction in Geneva

A 100-carat yellow diamond sold for 14.5 million Swiss francs ($16.3 million,11.9 million euros) at auction in Geneva on Tuesday. The 110.09 carat diamond went unsold at first, with the bids too low, before the Sotheby’s auctioneer unexpectedly announced that the diamond was going back under the hammer, explaining that…

Forget drive-in movie theaters. Zurich now has drive-in ‘sex boxes’

The Swiss city of Zurich on Thursday unveiled a sex drive-in which local authorities say will enable them to keep closer tabs on prostitution, a year after voters backed the plan. Due to be opened officially in a ceremony on August 26, the nine so-called “sex boxes” are located in…

Swiss Space Systems aims for low-cost satellite service

A new Swiss-based company said Thursday it would offer low-cost satellite launches which it claims could be a quarter of current market rates. Swiss Space Systems-S3 said its goal was to offer launches for 10 million Swiss francs (8.1 million euros, $10.5 million) using unmanned suborbital spaceplanes that could carry…

Swiss anti-choice activists seek to ban abortions for ‘economic’ reasons

Swiss pro-lifers launched an initiative Tuesday to ban abortions in the country for economic reasons, saying the practice costs hundreds of billions in lost tax revenues. The “Protect life to remedy the loss of billions” initiative was launched by an independent group which needs to gather more than 100,000 signatures…

UBS announces 3,500 job losses

Swiss banking giant UBS on Tuesday announced plans to shed 3,500 jobs in order to make savings of some 2 billion Swiss francs (1.8 billion euros, $2.5 billion). UBS aims to make the personnel cuts “through redundancies as well as natural attrition”, the bank said in a statement.…

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