Sorry but I think the local news section in the internet presence of the normal newspapers is as close as it gets in Zurich (and radio news of course). Everything in German though. They could be faster but they shine when it's about sport and election results...

http://www.nzz.ch/nachrichten/zuerich/aktuell
http://www.tages-anzeiger.ch/dyn/new...ich/index.html
http://www.20min.ch/news/zuerich/