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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…

Strong franc claims jobs at Bobst manufacturer

This content was published on Nov 8, 2011 The company will axe 420 jobs by the middle of 2013 from its sites in Lausanne, according to a statement issued on Tuesday. The losses are expected to be channeled through the suspension of short-term contracts, early retirements and natural wastage. It expects to make SFr77 million ($85.4 million) in savings this year and another…

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…

Wealth gap could provoke a social explosion

This content was published on Nov 7, 2011 Mäder, who teaches at Basel University and last year published a study entitled “How the Rich Think and Live”, tells swissinfo.ch that there could be a social explosion unless things change. Low wages need to be raised and the social insurance system modernised to help make society fairer again, he says. Mäder has been studying…

Central bank urged to intervene against euro

This content was published on Nov 7, 2011 The commission said the SFr1.20 minimum exchange rate, fixed by the SNB in September, was not enough. However the commission voted 16-6 against the idea of a package of measures to counter the strong franc, rejecting any direct political intervention for the moment. Its stance echoed that of Economics Minister Johann Schneider-Ammann who on…

Employers and workers face difficult times

This content was published on Nov 7, 2011 A statement issued by the Employers’ Association on Monday says employers should be able to increase working hours and reduce wages. It should also be possible “in certain exceptional cases” to pay cross-border workers in euros. The head of the association, Valentin Vogt, told journalists that if the franc remains at its current level against…

Legal challenge to UBS data handover fading

This content was published on Nov 7, 2011 Only 100 cases have been upheld – or partially upheld – with 4,100 out of the 4,450 data transfer requests already honoured by Switzerland. An important test case in the US courts has also failed to give UBS clients legal protection. In August 2009, the Swiss government concluded a treaty with the US to sidestep…

Consumers “should question nanotechnology”

This content was published on Nov 6, 2011 What does sun cream have in common with stain-proof fabrics and a refrigerator that kills odours? All of these were manufactured using nanotechnology with substances invisible to the human eye and that have incredible potential but also pose unknown risks. Nanoparticles are already found in more than 1,000 over-the-counter products and there are more than…

National bank may again move to devalue franc

This content was published on Nov 6, 2011 The SNB moved in September to set a minimum exchange rate of SFr1.20 to the euro, as jittery global investors flocked to the currency as a safe haven in increasingly unstable global financial markets. Speaking to the newspaper NZZ am Sonntag, Hildebrand said the franc was still overvalued, but did not speculate on whether the…

Sarkozy takes swipe at “tax havens”

This content was published on Nov 4, 2011 At the meeting in Cannes, Sarkozy listed 11 states, including Switzerland, which – he said – do not have any legal framework governing the exchange of tax information. Besides Switzerland, Sarkozy named states like Barbados, Botswana, Panama, Uruguay, the Seychelles and Vanuatu. “We don’t want to have tax havens any more. Our message is very…

Internal: Archive

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Internal: Archive

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Swiss tax evasion storm refuses to clear

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Strong franc claims jobs at Bobst manufacturer

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Credit Suisse tells clients of disclosure plans

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Wealth gap could provoke a social explosion

More

Central bank urged to intervene against euro

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Employers and workers face difficult times

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Legal challenge to UBS data handover fading

More

Consumers “should question nanotechnology”

More

National bank may again move to devalue franc

More

Sarkozy takes swipe at “tax havens”

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