Archive – Banking & Fintech

Government takes action in UBS files case

This content was published on Jul 8, 2009 In a letter addressed to the Miami court where UBS faces a hearing next week, the government said UBS was prevented from disclosing the data under Swiss banking secrecy laws. UBS is refusing to provide information sought by the US Internal Revenue Service (IRS) on 52,000 American holders of Swiss bank accounts. The Swiss justice…

Swiss hit with worst unemployment in years

This content was published on Jul 8, 2009 According to figures released on Wednesday by the State Secretariat for Economic Affairs (Seco), 5,125 more people were out of work in June than in May. Figures comparing June 2009 with June 2008 show more than 48,700 people are now out of work, a rise of 53.3 per cent. The figures are based on the…

Leuthard hopes for bank settlement

This content was published on Jul 7, 2009 The Internal Revenue Service (IRS) wants to force UBS, Switzerland’s second biggest bank, to reveal information about some 52,000 US account holders whom it suspects of tax evasion. The bank argues that it would violate Swiss banking secrecy laws if it complied with the US request. Leuthard told journalists that Switzerland hoped for a quick…

Geneva and Zurich even dearer for expats

This content was published on Jul 7, 2009 The most expensive cities in the world are now Tokyo and Osaka in Japan, with Moscow in third place, the Mercer consulting company says in its 2009 report. While most European cities have become relatively less expensive in comparison with 2008 because of currency fluctuations, Geneva has moved into fourth place, up from eighth, and…

US has far fewer UBS account names than hoped

This content was published on Jul 7, 2009 The Justice Department was responding to UBS, which asked a federal judge in Miami last week to order the Internal Revenue Service (IRS) to reveal how many undeclared accounts of American clients it had discovered at the bank. US authorities are suing UBS in a civil case to try to obtain details about the 52,000…

Job cuts and site closures follow Ciba takeover

This content was published on Jul 6, 2009 A total of 3,700 jobs will go, of which 530 will be in Switzerland, and BASF may close as many as 23 of Ciba’s 55 sites, BASF said on Monday. A majority of the job losses will be at Ciba although some cuts will affect BASF staff. Most of the cuts will be carried out…

UBS loses its top ranking managing the wealthy

This content was published on Jul 6, 2009 Consultants Scorpio Partnership said that Bank of America rose to the number one position after taking over Merrill Lynch last year and now managed $1.5 trillion (SFr1.64 trillion) for the rich. UBS has suffered massive outflows at its core wealth management business after losing billions of francs in the United States subprime mortgage business. Its…

Swiss airline reduces winter flights

This content was published on Jul 5, 2009 Between the end of October and the end of March there will be 18 instead of 21 flights a week to New York from Geneva or Zurich, confirmed spokesman Franco Gullotti. He added that on most other long-haul journeys there would be six instead of seven flights a week. Already in September three planes on…

Defence minister criticises “unreliable” US

This content was published on Jul 5, 2009 Maurer told a Sunday newspaper that Switzerland must insist on the law and not buckle – “better to lose with dignity than make concessions with the powerful”, he said. Maurer, a member of the rightwing Swiss People’s Party, claimed there were serious internal tensions within the US government and said it was “logical” that the…

Post bosses plead for banking licence

This content was published on Jul 3, 2009 Chairman Claude Béglé said it was unfortunate that the government came out against granting such a permit, since the company already had the necessary the know-how. He is hopeful that parliament might change its mind, but added that Swiss Post was also willing to cooperate with partners in the banking business. The PostFinance unit presently…

Page 688 of 1641

First … 686 687 688 689 690 … Last

Archive – Banking & Fintech

Popular Stories

Most Discussed

Archive – Banking & Fintech

More

Government takes action in UBS files case

More

Swiss hit with worst unemployment in years

More

Leuthard hopes for bank settlement

More

Geneva and Zurich even dearer for expats

More

US has far fewer UBS account names than hoped

More

Job cuts and site closures follow Ciba takeover

More

UBS loses its top ranking managing the wealthy

More

Swiss airline reduces winter flights

More

Defence minister criticises “unreliable” US

More

Post bosses plead for banking licence

Popular Stories

Most Discussed