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President Barack Obama may have just spiced up the debate about global banking regulation, but the prospects for success for the president’s latest initiative remain mired in the challenge of a combative Congress and a fierce Wall Street lobby.
At this year’s Davos, I think it is important we enter this meeting with the idea of change. There are plenty of signs of change, but we are still struggling with how to deal with it. In some cases, we are in complete denial.
The global financial crisis, at its heart, has turned out to be a crisis of values and trust. At the grass roots level, people feel that corporations, driven by individual and/or organizational greed and the pursuit of profit, will stop at nothing to achieve these goals – even at the risk of bringing down entire global economic systems.
A year ago, the opinion makers at the annual World Economic Forum in Davos were so riveted by fears of global warming that they paid little attention to another threat. Not this year.
The World Economic Forum's closely watched Global Risks report says there's a "significant chance" of a second financial crisis, but, hey, things are looking a lot better than they were at this time last year.
Developing economic powerhouses like China, India and Brazil will lead global growth this year, while the US, Europe and Japan will lag.
Warren Buffett's Berkshire Hathaway will take on some risk that a cautious Swiss Re doesn't want right now, in a deal strengthening ties between the two companies.
When the Swiss delegation around Environment Minister Moritz Leuenberg boards the train to Copenhagen on December 16th, its journey of more than 1,000 km to the world’s biggest climate meeting in history will not just send a signal by travelling more CO2-friendly than many of their colleagues. It will set the stage for the country’s urgent plea to the world to seal a deal.
Switzerland's privacy watchdog is taking legal action to force Google to make changes to its Street View service.
Robert McCann, the former head of Merrill Lynch's brokerage unit, was named the head of UBS's private client group.
The clock is ticking for Switzerland’s watchmakers – and it looks like the G20 can do something to stimulate their Christmas sales.
The IRS is extending the Wednesday deadline for international tax dodgers to apply for an amnesty program in order to give a rush of applicants more time to prepare their paperwork.
Switzerland should be wiped off the map and its land divided between France, Italy and Germany. That is what Libyan leader Colonel Gaddafi is calling for in a motion he filed to the United Nations, according to newspaper reports.
Ex-wives are hot on the heels of the US government in going after thousands of Americans whose secret Swiss bank accounts could soon be open to scrutiny, according to a report from Time Magazine.
There is no doubt the landmark tax deal between the US and Switzerland this week is a success for UBS, Switzerland’s biggest bank by assets under management. But it may turn out to be the beginning of more headaches for the rest of the Swiss banking industry.
Nearly 10 more Swiss and other European banks holding wealthy US citizens accounts were identified using a tax-evasion amnesty program in the US, the Wall Street Journal reported on its Web site Wednesday.
Federal prosecutors are building criminal cases against 150 wealthy American clients of the Swiss banking giant UBS as part of a continuing investigation into tax evasion, a person briefed on the matter said Thursday, the New York Times reported.
Swiss banking giant UBS is being sued in Hong Kong for allegedly duping a 77-year-old woman into buying highly risky derivative investments that cost her nearly $26 million in losses.
When the Swiss bank UBS and federal prosecutors face off in a Florida courtroom on Monday, the focus will be whether UBS must disclose the identities of thousands of its American clients, but much more could be at stake as well, the New York Times reported.
The Justice Department may drop a closely watched legal case aimed at forcing the Swiss bank UBS to divulge the names of 52,000 wealthy American clients suspected of offshore tax evasion, a United States official briefed on the matter said Monday, the New York Times reported.