Archive – Banking & Fintech

UBS France accused of abetting tax evasion

This content was published on Apr 1, 2012 Antoine Peillon’s new book claims that the Swiss bank’s employees secretly sought out customers to convince them to hide their money outside the country. “These employees were selling a turnkey solution for tax evasion, including legal advice, transporting money, and almost always the creation of a dummy company in some exotic tax paradise,” writes the…

German tax officials face Swiss arrest

This content was published on Mar 31, 2012 The Federal Prosecutor’s Office said that it had sought legal assistance from German authorities in an investigation of the theft of Credit Suisse data. Federal prosecutor Michael Lauber confirmed on Swiss public radio on Saturday that there were serious indications of intelligence gathering carried out against the Credit Suisse bank and that a request for…

Poultry overtakes beef on Swiss plates

This content was published on Mar 30, 2012 Average per capita meat consumption was 53.74kg, an increase of 0.2 per cent, the sector’s umbrella group Proviande said on Friday. Eighty per cent of meat consumed came from within Switzerland, little change on 2010. All types of meat apart from pork, game and rabbit showed an increase in per capita consumption. Despite a 1.7…

Tax evasion deal with Germany remains stalled

This content was published on Mar 30, 2012 The deal needs approval by the German parliament’s upper house, which represents Germany’s 16 states and where Chancellor Angela Merkel’s centre-right government lacks a majority. The states governed by opposition Social Democrats want tougher terms than originally negotiated. Switzerland has proposed changes but the German finance ministry said opposition-led states informed the government on Friday…

Ex-minister cancels appearance after threats

This content was published on Mar 30, 2012 The 63-year-old Green politician had been invited by Winterthur Theatre to talk about global challenges, sustainability and a better world, but he said having to do this under massive police protection was a contradiction. A local anti-capitalism association, critical of Fischer’s current work for energy and oil companies, had called for him to be forced…

Railways attract record number of passengers

This content was published on Mar 29, 2012 This record figure was accompanied by net profit of SFr338.7 million ($375 million), up from SFr298.3 million the previous year, the federal railways said on Thursday. It added it would continue to expand its network and service and focus more on efficiency and customer needs. The company admitted its “problem child” remained the cargo division,…

Price pressure eats into Migros profits

This content was published on Mar 28, 2012 Migros reported a SFr192 million ($212 million) fall in profits to SFr659 million while sales revenue sank 0.9 per cent to SFr24.9 billion. The results of both Migros and rival group Coop – which saw profits drop eight per cent last year – have been affected by Swiss consumers buying more goods in cheaper neighbouring…

UBS threatens legal action over book claims

This content was published on Mar 28, 2012 UBS has reacted by threatening legal action against the book’s author, French journalist Antoine Peillon, who claims to have gathered evidence from several former UBS employees. “Ces 600 milliards qui manquent à la France” (The 600 billion missing from France) claims that UBS trained its staff to target prominent and wealthy French clients and help…

Windmills and cheese

This content was published on Mar 27, 2012 Windmills and cheese

Thriving housing market threatens debt trap

This content was published on Mar 26, 2012 Swiss households took on SFr28 billion in additional loans in 2010 to bring the total pot to SFr632 billion ($690 billion). Concerns centre on lax lending standards and a tax quirk that discourages people from paying off debt. In addition to approving a previous recommendation to crack down on mortgage lenders, the taskforce urged the…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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UBS France accused of abetting tax evasion

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German tax officials face Swiss arrest

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Poultry overtakes beef on Swiss plates

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Tax evasion deal with Germany remains stalled

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Ex-minister cancels appearance after threats

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Railways attract record number of passengers

More

Price pressure eats into Migros profits

More

UBS threatens legal action over book claims

More

Windmills and cheese

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Thriving housing market threatens debt trap

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