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Major lender says it has ‘no US tax cheats’

This content was published on Dec 13, 2013 Other smaller banks have opted to declare presumed guilt despite some not knowing if they count tax cheats among their clients or not. The treaty signed by the two countries in August allows Swiss banks to avoid criminal prosecution by coming clean about their US involvement by the end of this year. In a short…

Another kind of development aid

This content was published on Dec 12, 2013

Villagers give Glencore tax to affected nations

This content was published on Dec 11, 2013 In the small village of Hausen am Albis, home to 3,300 people, a shout of joy and loud applause greeted the result of a vote in early December – residents had just accepted an initiative to give part of the tax windfall indirectly generated by Glencore to development aid projects abroad. Hausen am Albis was…

Supermarket banks sign up to US tax probe

This content was published on Dec 11, 2013 Banks had until Monday to inform the Swiss Financial Market Supervisory Authority (FINMA) whether they would take part in the scheme. Migros Bank said on Wednesday that 370 of its 825,000 clients – mostly Swiss citizens residing temporarily in the US or clients with dual nationality – came under the criteria of the scheme brokered…

US tax deal could prove deadly for small banks

This content was published on Dec 10, 2013 Big banks, which sparked the US crackdown by knowingly or recklessly harbouring untaxed assets, have the financial clout to absorb costs and fines. But regional institutions, making up one in four of all Swiss banks, may face a harsher ultimate penalty, despite shouldering a far lesser burden of guilt than larger rivals. In August, Switzerland…

More and more firms treating burnout

This content was published on Dec 10, 2013

US tax deal could prove deadly for small banks

This content was published on Dec 9, 2013 Big banks, which sparked the US crackdown by knowingly or recklessly harbouring untaxed assets, have the financial clout to absorb costs and fines. But regional institutions, making up one in four of all Swiss banks, may face a harsher ultimate penalty, despite shouldering a far lesser burden of guilt than larger rivals. In August, Switzerland…

EU ambassador warns over immigration vote

This content was published on Dec 8, 2013 In an interview with Swiss national television on Saturday evening, Richard Jones said Switzerland would have to revoke the bilateral agreement on the free movement of persons accord if Swiss people accepted the Swiss People’s Party’s initiative to limit mass immigration on February 9. This would have a knock-on effect and mean the cancelling of…

Nestlé drops Givaudan from balance sheet

This content was published on Dec 6, 2013 The Swiss multinational’s entire stake is valued at as much as CHF1.08 billion ($1.20 billion). “I think the cash will be used for bolt-on deals and may help to enable a small buyback potentially within the next 18 months,” Jon Cox, an analyst at Kepler Cheuvreux, told the Reuters news agency. The maker of KitKat…

Scientists show how cancer cells repair DNA

This content was published on Dec 5, 2013 Thanos Halazonetis from the University of Geneva and colleagues in Finland, Germany, the United States and Sweden identified a repair process that had previously been observed in yeast but not in humans, according to a study published online by the journal Science on Thursday. For cells to divide, they must replicate their DNA which consists…

Internal: Archive

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