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Government won’t join UBS bailout

This content was published on Feb 27, 2008 But in an interview given ahead of the bank’s extraordinary shareholder meeting on Wednesday, Couchepin criticised chairman Marcel Ospel, saying he should hand back some of his more than substantial salary. Shareholders are being asked to approve a SFr13 billion ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor. But they are…

Survey denies small business “inspectionitis”

This content was published on Feb 26, 2008 A survey revealed an average 1.9 inspections per company in the past five years, while a third said they had received no visits at all. But business leaders said the findings were too positive. The State Secretariat for Economic Affairs (Seco) asked 1,600 firms about the frequency and nature of inspections since 2003. A third…

Leuthard broaches tax affair issue

This content was published on Feb 25, 2008 She said that although the tax evasion fight was a concern to both Switzerland and Liechtenstein, both countries should retain autonomy in their fiscal affairs. This meant managing their own fiscal law and any improvement of legislation in this domain, she said. Her comments came after Swiss Finance Minister Hans-Rudolf Merz said on Saturday that…

Litigation adds to UBS worries

This content was published on Feb 25, 2008 UBS suffered a SFr4.38 billion loss in 2007 as a result of write-downs to the tune of SFr20 billion. It faces a stormy shareholder meeting on Wednesday to vote on a rescue plan. HSH Nordbank initiated legal proceedings in New York on Monday after UBS refused to discuss a settlement. The German bank claims UBS…

Surprised by spring

This content was published on Feb 24, 2008 A man enjoys the unseasonable sunshine on the shores of Lake Geneva on February 24 (KEYSTONE LAURENT GILLIERON)

Corporate tax breaks scrape through in polls

This content was published on Feb 24, 2008 A ban on training flights by the Swiss Air Force over tourist regions, proposed by a leading environmental group, was overwhelmingly rejected. The proposal on banning training flights was rejected by about 68 per cent of the vote, with 32 per cent in favour, according to officals. But the fiscal reform proposal passed with a…

Merz plays down tax investigation

This content was published on Feb 23, 2008 The Germans are interested in a particular kind of foundation in Liechtenstein which does not exist under Swiss law, he told Swiss radio. “I cannot imagine why there should be any problem for Switzerland.” Although some of the money held by the foundations in Liechtenstein is invested in Swiss banks, that does not mean the…

Switzerland considers sanctions in Chad case

This content was published on Feb 22, 2008 It said that it would need several weeks to formulate its response to the government of Chad, which receives development assistance from Switzerland. Media reports that Chad had outfitted the Pilatus PC-9 trainer with bombs and was using it to attack positions in the Darfur region in neighbouring Sudan first appeared in January. On Friday,…

Sweet firms taste export success

This content was published on Feb 22, 2008 Around three-quarters of Swiss made confectionery goes abroad and in the last year exports rose by 13.7 per cent to 20,772 tonnes, the confectionery and biscuit manufacturers’ association Biscosuisse reported. In the past five years export turnover and volume of sales have risen by around 30 per cent. Biscosuisse described the domestic market as “more…

Top banker tries to explain his “Nazi” comment

This content was published on Feb 22, 2008 Private banker Pierre Mirabaud drew a comparison between how the intelligence agency – the Bundesnachrichtendienst – was now cracking down on tax evaders and the secret police of the Nazis. His remarks came in an interview with French-language television on Wednesday. Mirabaud was asked whether Swiss bank employees could be tempted to disclose information, after…

Internal: Archive

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Internal: Archive

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Government won’t join UBS bailout

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Survey denies small business “inspectionitis”

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Leuthard broaches tax affair issue

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Litigation adds to UBS worries

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Surprised by spring

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Corporate tax breaks scrape through in polls

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Merz plays down tax investigation

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Switzerland considers sanctions in Chad case

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Sweet firms taste export success

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Top banker tries to explain his “Nazi” comment

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