Heat Is On For Swiss Commodities Sector

Heat Is On For Swiss Commodities Sector by Samuel Jaberg, swissinfo.ch

Voters last month rejected a proposal to ban speculation in food products but not as overwhelmingly as had been expected. Another people's initiative dubbed “For Responsible Business” is now directly aimed against the commodities sector which has a strong presence in Switzerland and is regularly targeted by civil society organizations.

“The business world has realised how unpopular it is. It will need to work hard to improve its image,” the Le Temps newspaper wrote the day after the Feb 28 vote initiated by the Young Socialists. They had hoped to outlaw financial instruments that allow speculation in food products.

The text may have been rejected but more than 40%...