Archive – Banking & Fintech

Richemont to create up to 2,000 Swiss jobs

This content was published on Nov 11, 2011 The Geneva-based group’s move, which is spread over two years, comes despite the continuing economic crisis in Europe and the strong Swiss franc. “We are hiring staff and we’re going to continue doing so,” said Richard Lepeu, Richemont’s deputy CEO, in a telephone conference on Friday. He added that qualified personnel were needed to respond…

Living in the eye of the financial storm

This content was published on Nov 11, 2011 The 21st Europe Forum, held in Lucerne this week, chose “ways out of the debt crisis” as this year’s theme. Taking place a few days after the G20 summit in Cannes, it couldn’t have been more topical. Harold James, an economic historian at Princeton, pointed out that from the Spanish and French kings of the…

Holcim accused of price fixing in Brazil

This content was published on Nov 11, 2011 The allegations were made upon publication of a report on Thursday, the result of five years of investigation into the matter. The report will now be handed over to the country’s competition authority. The companies concerned could be in line for fines the equivalent of 30 per cent of gross turnover for 2005, the year…

Commission backs tax information concession

This content was published on Nov 10, 2011 The proposal is designed to reinforce a double taxation agreement already reached between Switzerland and the United States, and to end a long-simmering dispute over to what extent Bern will hand over bank client data to US tax officials. The Swiss government hopes that both parliamentary chambers will address this issue before year-end. The proposal…

Banks probed over dictator asset rules

This content was published on Nov 10, 2011 The Swiss financial market regulator (Finma) has moved against four banks which it says have not fulfilled due diligence obligations in relation to dictator’s assets. Finma said it had conducted an “extraordinary audit” of 20 banks’ dealings with politically exposed persons (Peps) in the wake of decisions by the Swiss government to freeze assets belonging…

Customers deceived in expired meat scandal

This content was published on Nov 10, 2011 Last month a lone butcher came forward on the Swiss television consumer programme Kassensturz claiming that packaged meat past its use-by date was routinely taken from the self-service fridges in the store where he worked, removed from its packaging and offered for sale at the open meat counter as fresh meat. On Tuesday, Kassensturz struck…

Retailers not sharing bargains with consumers

This content was published on Nov 9, 2011 The survey, published on Wednesday, shows that some retailers are not passing on the savings to be had thanks to the strong Swiss franc. It said that shoppers in Switzerland were paying too much for clothing, plastic items, vehicles and furniture. It registered only minimal savings on food and beverages, leather goods, shoes, electronics, machines,…

Chagaev office searched by prosecutor

This content was published on Nov 8, 2011 The search was carried out following media reports that a document furnished by Chagaev to prove his solvency was “of doubtful origin”. In a related move, a criminal complaint was lodged with a Neuchâtel judge against the businessman, who has been based in Switzerland for some 20 years and holds four companies in Geneva, as…

Swiss tax evasion storm refuses to clear

This content was published on Nov 8, 2011 French President Nicolas Sarkozy called on Switzerland and ten other so-called tax havens to be “excluded from the international community” for refusing to sign up to an automatic exchange of information agreement. Switzerland is currently playing a game of chess with various other countries in an effort to manoeuvre itself through a global minefield of…

Credit Suisse tells clients of disclosure plans

This content was published on Nov 8, 2011 In a notification letter, the bank told clients that it had recently received a formal request for help from the IRS, which believes that thousands of wealthy Americans are evading taxes by placing their money in Swiss banks. “The IRS is seeking information with regard to accounts of certain US persons owned through a domiciliary…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Richemont to create up to 2,000 Swiss jobs

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Living in the eye of the financial storm

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Holcim accused of price fixing in Brazil

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Commission backs tax information concession

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Banks probed over dictator asset rules

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Customers deceived in expired meat scandal

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Retailers not sharing bargains with consumers

More

Chagaev office searched by prosecutor

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Swiss tax evasion storm refuses to clear

More

Credit Suisse tells clients of disclosure plans

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