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Court rules against stolen Swiss data use

This content was published on Feb 1, 2012 The ruling by the Court of Cassation was published on Tuesday, and upheld a February 2011 decision by the Court of Appeal. It cannot be contested. The data was stolen in 2007 by a former employee of the HSBC private bank and handed over to the French tax authorities. The court said it could not be…

Rubik gives EU new hope for Swiss tax accord

This content was published on Feb 1, 2012 On February 2, high level experts from the 27-member block will meet in Copenhagen to revisit the debate on taxation of savings accounts. The basis of their discussion is a recently-penned Danish memo on “recent international developments” which the country believes justify new talks. A first step will be the need to convince Luxembourg and…

Credit Suisse to shed jobs in New York

This content was published on Feb 1, 2012 The Zurich-based company cited economic reasons when it filed with the department on Monday. The posts are scheduled to go between early March and May this year. Victoria Harmon, a Credit Suisse spokeswoman, told Bloomberg that the figures were part of dismissals announced last year. The bank said in November that it would be shedding…

Roche records rise in profit in 2011

This content was published on Feb 1, 2012 In a statement on Wednesday, the pharmaceuticals firm said that it had seen a strong performance in 2011 despite the impact of currency effects and the challenging market. Its profit for 2010 was SFr8.89 billion. The Basel-based company said net income attributable to shareholders grew seven per cent to SFr9.3 billion from SFr8.7 billion the…

Breaking the bank?

This content was published on Jan 31, 2012 A US probe into Swiss banks allegedly aiding tax evasion by Americans has claimed its first victim. Switzerland’s oldest private bank broke itself up due to the pressure of the US investigation and others have begun to hand over sensitive data. Should Switzerland continue to fight its corner or bend to the will of the…

Gambling funds culture, sport and pensions

This content was published on Jan 31, 2012 The constitutional amendment will come to a nationwide vote on March 11 amid increasing competition from game operators abroad following the partial liberalisation of the gambling and betting regulations in Switzerland more than ten years ago. The vote on money games – one of five issues to be decided on – may seem a simple…

Bank client emails in the hands of US

This content was published on Jan 31, 2012 Full access to the information will only be provided when a tax agreement is in place between the two countries. Swiss Finance Minister Eveline Widmer-Schlumpf informed a parliamentary economics commission that Credit Suisse and seven other Swiss banks wanted to make concessions to the United States by offering information about client relations. According to research…

ABB to buy Thomas & Betts for $3.9 billion

This content was published on Jan 30, 2012 Under the terms of the deal, which will see ABB broaden its inroads into the world’s largest market for low-voltage products, ABB will pay $72 per share in cash for Thomas & Betts, a 24 per cent premium over the stock’s closing price on Friday. Zurich-based ABB, which makes products used by oil, mining and…

Goodbye, adieu, ciao etc

This content was published on Jan 29, 2012 It’s always the same every year: a nervous, dynamic buzz of activity to start with followed by an exhausted, out of body experience when you leave. Day one in Davos is all about queues, impatience, jostling and journalists sticking down bits of paper to lay claim to their section of desk. The open plan media…

IMF asks Swiss to add to eurozone crisis fund

This content was published on Jan 29, 2012 Christine Lagarde made the appeal to Swiss Finance Minister Eveline Widmer-Schlumpf on the sidelines of the World Economic Forum in Davos. The amount requested was not made public. Widmer-Schlumpf said contributions by various countries were being sought. It now had to be discussed by the cabinet, she said, adding: “We need to do everything to reduce instability…

Internal: Archive

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Internal: Archive

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Court rules against stolen Swiss data use

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Rubik gives EU new hope for Swiss tax accord

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Credit Suisse to shed jobs in New York

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Roche records rise in profit in 2011

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Breaking the bank?

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Gambling funds culture, sport and pensions

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Bank client emails in the hands of US

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ABB to buy Thomas & Betts for $3.9 billion

More

Goodbye, adieu, ciao etc

More

IMF asks Swiss to add to eurozone crisis fund

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