Jean-Claude Biver, chairman at Hublot, explains that other countries are compensating for losses in China and that the group is focusing on general-end luxury.» Read More
Osama bin Laden did not put any of his billions of dollars in assets into Swiss banks, Patrick Odier, the Swiss Bankers Association chairman, told CNBC Wednesday.
Glencore’s appetite for risk in commodities trading is bigger than that of leading Wall Street banks, according to information released by the banks underwriting the trading house’s multibillion-dollar flotation, the FT reports.
Glencore is facing a big increase in its tax bill following its $60 billion initial public offering after paying almost no corporate taxes on its trading business for years in spite of bumper profits, reports the FT.
Actelion shareholder Elliott Advisors, having already called for a management overhaul at the Swiss biotech concern, says all options, including a sale of the company, need to be on the table at Actelion's shareholder meeting in May.
The most sought-after pundits have been signed to long-term contracts worth over $100,000; some even have deals with several outlets. "As long as you have an English accent," one expert joked, "you'll work." The New York Times reports.
Glencore made a speculative bet on rising wheat and corn prices in the early stages of last summer’s Russian drought, when senior traders at the Swiss-based company publicly urged Russia to impose a grain export ban. The FT reports.
An estimated half million Americans have a painful decision to make between today and August 31 — admit to the IRS that they’ve been hiding secret offshore bank accounts, or take their chances the government won’t find out about their secret horde and possibly send them to jail.
Roche's cancer drug Avastin remains a growth driver for the company despite disappointing sales in the US and Europe as a result of regulatory restrictions, Chief Executive Severin Schwan told CNBC on Thursday.
The century-old tradition of burning a straw effigy bearing a strong resemblance to a snowman to drive out evil winter spirits in the center of Zurich marks the official end to snowy winters in Zurich.
At least two sons of Col. Muammar el-Gaddafi are proposing a resolution to the Libyan conflict that would entail pushing their father aside to make way for a transition to a constitutional democracy under the direction of his son Seif al-Islam el-Qaddafi, a diplomat and a Libyan official briefed on the plan said Sunday, the New York Times reported.
There is one market, far away from Asia, which may surprise in 2011: the USA, according to Frederic de Narp, CEO and President of diamond giant Harry Winston.
As Europe struggles to come to grips with its debt crisis, which has deepened with the collapse of Portugal’s government after it pushed for yet another round of budget cuts, three numbers stand out: 12.4, 9.8 and 7.8, reports the New York Times.
Credit Suisse boss Brady Dougan took $14 million in pay in 2010, despite the bank's shares losing a quarter of their value, while rival UBS CEO Oswald Gruebel waived his bonus after a much smaller share price fall.
As Japan’s nuclear crisis intensified Wednesday, governments across Europe remained at odds over whether to scale back nuclear power programs or continue plans to expand, reports the New York Times.
Oil prices are driven by a supply shock rather than increased demand due to a stronger world economy, so investors in currencies look to "risk" rather than "macro" factors, David Bloom, global head of foreign exchange research at HSBC, wrote in a market note.
Jurgen Hambrecht, the CEO of German chemical company BASF, was voted the top CEO in his sector by both buy-side and sell-side analysts, while Deutsche Bank's CEO Josef Ackerman and Banco Santander's Alfredo Saenz Abad split the honors in the financial services sector, according to a survey by Institutional Investor.
Switzerland has also moved to freeze the assets of the Libyan regime. But it seems unlikely that Colonel Gaddafi and his cronies would be stashing their wealth in Zurich these days.
A US tax evasion investigation that has prompted charges against several Swiss bankers has expanded to include Israeli and Asian banks, according to lawyers close to the probe. The FT reports.
Many economists think he should be the next person to run the European Central Bank. But among government leaders in Berlin and Paris, where many of Europe’s most important decisions are made, Mario Draghi, the governor of the Bank of Italy, generates a palpable lack of enthusiasm, reports the New York Times.
An unfortunate turn in Swiss-Libyan diplomatic relations in 2008 may now have a silver lining for the Alpine economy.