Archive – Banking & Fintech

Taxation agreement signed with Australia

This content was published on Jul 30, 2013 The government said the new DTA, signed in Sydney, would contribute to the further positive development of bilateral economic relations between Switzerland and Australia, which unlike Switzerland is a member of the G20. According to a statement on Tuesday by the State Secretariat for International Financial Matters (SIF), Switzerland and Australia have agreed that both…

Driver error suspected in train crash

This content was published on Jul 30, 2013 Jean-Christophe Sauterel, spokesperson for Vaud cantonal police, said “the current hypothesis is that the train coming from Payerne ignored a signal.” Further fatalities have not been ruled out as work continues on separating the two trains. The initial investigation has found that the 54-year-old conductor of the train from Payerne saw the oncoming train, activated the emergency brake and evacuated his…

Eyes to the skies

This content was published on Jul 30, 2013 Air traffic controllers now have the benefit of high-performance radars. But, just as they did 30years ago, they still put their trust in their most important instruments – their eyes. (Pictures: Reuters, Keystone, RDB and Ex-press)

Banks start controversial US data handover

This content was published on Jul 26, 2013 Credit Suisse and Zurich Cantonal Bank have admitted to being the first Swiss banks to get government approval to transfer the so-called “leaver lists” to the US under the terms of a recently brokered deal. Earlier this month, the Swiss government decided to grant banks special permission to release the names of their employees and…

Settlement confirmed for UBS

This content was published on Jul 26, 2013 The Federal Housing Finance Agency (FHFA), which oversees the two companies known as Fannie Mae and Freddie Mac, announced the settlement Thursday. The agency had sued UBS and 17 other major banks over their sales to Fannie and Freddie of about $196 billion in mortgage securities that soured when the housing market collapsed in 2007.…

Swiss banks pay out millions to Austria, Britain

This content was published on Jul 25, 2013 The Finance Ministry said on Thursday that Britain had received CHF372 million (as opposed to the CHF500 million anticipated when the deal was signed) and Austria, CHF515 million. “Switzerland thereby fulfilled an obligation which is set out in the bilateral withholding tax agreements with the two countries,” a ministry statement said. More clients had opted to…

CEO of telecom operator found dead

This content was published on Jul 24, 2013 An inquest will determine the circumstances of his death, but police are currently treating the death as suicide. Further details were not given out of respect for the family. He was separated from his wife, with whom he had three children. Schloter, a German national, joined Swisscom in 2000 as the head of the firm’s…

UBS results impress despite hefty legal bills

This content was published on Jul 22, 2013 The bank said it had settled a dispute with the United States Federal Housing Finance Agency (FHFA) over the sale of mortgage related securities and paid CHF100 million to Britain under the terms of a tax deal between the two countries. UBS will chalk up CHF865 million ($919 million) in legal bills, impairment of financial…

Voting on what to buy at night

This content was published on Jul 22, 2013 “Easing of the labour law for convenience stores”, is the official name of the referendum. (SRF/swissinfo.ch)

Global corporate tax plan wins Swiss approval

This content was published on Jul 20, 2013 Swiss cantons have dismissed the idea that the proposed regulations could make them less attractive venues for foreign firms. But some observers feel the proposals do not go far enough to make a real difference or that they will be too difficult to implement. The corporate tax crackdown was drawn up by the Organisation for…

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