This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-25076879

The article has changed 4 times. There is an RSS feed of changes available.

Version 2 Version 3
Swiss voting no to capping bosses' pay at 12 times poorest paid Swiss vote no to capping bosses' pay at 12 times lowest paid
(about 2 hours later)
Early results suggest Swiss voters are saying "no" to a proposal to bring in a law that would limit executive pay to 12 times that of the lowest paid. Swiss voters have rejected a proposal that would have limited executive pay to 12 times that of the lowest paid.
Our correspondent in the country says the big business cantons, Zurich and St Gallen, are showing clear majorities against. The referendum saw 65.3% vote against the plan with 34.7% in favour.
There are many more votes still to count, but it is clear the initiative cannot pass now. The country is home to a range of giant businesses, including pharmaceutical companies Novartis and Roche, the insurance groups Zurich and Swiss Re and the banks UBS and Credit Suisse.
The Young Socialists, who proposed it, have admitted defeat. The rules would have given Switzerland the world's toughest pay rules and some of the lowest executive salaries.
The new rules would have given Switzerland the world's toughest pay rules and some of the lowest executive salaries - which business leaders said would limit foreign investment. Business leaders said that would limit foreign investment and the government was also opposed to the proposal.
The government was also opposed to the move. The Young Socialists, who proposed the measure, admitted defeat.
It is the second time this year that Swiss voters have been balloted on the issue.It is the second time this year that Swiss voters have been balloted on the issue.
In March they did back strict limits on bonuses and golden handshakes.In March they did back strict limits on bonuses and golden handshakes.
IrritationIrritation
There has been widespread public anger at revelations that some of Switzerland's chief executives are earning more than 200 times what their employees take home.There has been widespread public anger at revelations that some of Switzerland's chief executives are earning more than 200 times what their employees take home.
Some Swiss have been further irritated that these high levels of pay are being given to executives whose firms have been cutting jobs.Some Swiss have been further irritated that these high levels of pay are being given to executives whose firms have been cutting jobs.
Although this proposal may have been defeated, the issue of high salaries and a widening wage gap has not gone away. Although this proposal has been defeated, the issue of high salaries and a widening wage gap has not gone away.
Early next year, Switzerland will hold another referendum on a guaranteed minimum wage.Early next year, Switzerland will hold another referendum on a guaranteed minimum wage.
Switzerland's system of democracy means citizens can call nationwide votes on issues that concern them.Switzerland's system of democracy means citizens can call nationwide votes on issues that concern them.