Archive – Banking & Fintech

EU approval ratings sink to record low

This content was published on Nov 25, 2012 While 12 years ago a third of the Swiss approved of joining the EU, currently only around one in nine (11.5 per cent) does. Twenty years ago, Swiss voters narrowly turned down the European Economic Area (EEA) or single market. Today only 31.8 per cent would vote in favour of joining the EEA. This trend…

Credit Suisse to pay $120 million for risky bonds

This content was published on Nov 16, 2012 US financial institution JP Morgan Chase, facing similar charges, and Swiss bank Credit Suisse agreed to pay a combined $417 million (SFr394 million) to settle. The SEC says JP Morgan did not tell investors that mortgages tied to the bonds were delinquent. And both banks failed to properly disclose practices that allowed them to profit while…

Corporates condemned for profit poaching

This content was published on Nov 16, 2012 The legal practice of transfer pricing is supposed to ensure that the activities of large companies in multiple locations are fairly taxed. But critics argue that the system is being increasingly manipulated to achieve the opposite effect. Transfer pricing could typically apply to a firm that makes components in one country, assembles them in another…

Sparks fly as cantons face losing tax billions

This content was published on Nov 16, 2012 A showdown with the European Union over corporate tax breaks now has cantons at each other’s throats, with billions of francs of annual revenues at stake. On the line is also Switzerland’s reputation as a tax haven for multinationals. Waiting on the sidelines are thousands of foreign holding firms that benefit from cantonal tax breaks…

The impact of Swiss corporate tax perks

This content was published on Nov 16, 2012

Letting go of atomic energy won’t be easy

This content was published on Nov 15, 2012 Compared with other countries that have also decided to or are considering giving up nuclear power, such as Germany or Japan, Switzerland depends on an energy mix that includes more than 40 per cent of atomic energy. “We have the biggest challenge, which is also compounded by the fact that we have no other power…

Unions show solidarity with European strikers

This content was published on Nov 14, 2012 Demonstrations were held in front of various consulates and a letter was sent to the ambassador of the European Union to Switzerland. Unia, Switzerland’s largest trade union, organised actions of solidarity outside the Spanish, Portuguese and Greek consulates in Bern and Geneva, according to the Swiss Trade Union Federation. In Geneva, protests were also planned in…

Federal Railways keep mum on Apple clock deal

This content was published on Nov 13, 2012 The amount of the settlement was widely reported, following a Swiss newspaper report citing undisclosed sources. “We also got the figure from the Tages-Anzeiger article,” Federal Railways told swissinfo.ch. The settlement was reached in talks held between Apple and the Federal Railways in October, following the appearance of the clock face as part of the…

Tax evasion scandal not over for Swiss banks

This content was published on Nov 9, 2012 The timing of the German probe into UBS could not come at a worse time, with the country’s parliament due to decide on a contentious tax treaty with Switzerland in two weeks. At the same time, a former UBS banker has implicated ex-colleagues during his testimony to a US court. UBS has confirmed media reports…

Looking a gift horse in the mouth

This content was published on Nov 6, 2012 Thanks to the revenue equalising system a share of the bounty flows to many cash-strapped municipalities in canton Zurich. Some members of these communities see the extra money as a blessing, but since Glencore International has been criticised for pollution, others feel accepting the gift is unethical. (SF/swissinfo.ch)

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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EU approval ratings sink to record low

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Credit Suisse to pay $120 million for risky bonds

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Corporates condemned for profit poaching

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Sparks fly as cantons face losing tax billions

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The impact of Swiss corporate tax perks

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Letting go of atomic energy won’t be easy

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Unions show solidarity with European strikers

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Federal Railways keep mum on Apple clock deal

More

Tax evasion scandal not over for Swiss banks

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Looking a gift horse in the mouth

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