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Switzerland

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  • Will Swiss Banks Have to Reinvent Themselves? Monday, 24 Aug 2009 | 3:10 AM ET
    UBS

    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.

  • More Europe Banks Identified in US Tax Probe: Report Wednesday, 19 Aug 2009 | 4:19 AM ET

    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.

  • US Builds Crime Cases on Clients of UBS Friday, 14 Aug 2009 | 4:28 AM ET
    UBS

    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.

  • UBS Sued over 77-Year-Old Lady's $26 Million Loss Wednesday, 29 Jul 2009 | 4:24 AM ET
    UBS

    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.

  • UBS Can't Comply with US Request: Internal Memo Friday, 10 Jul 2009 | 3:43 AM ET
    UBS

    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.

  • Settlement Anticipated in UBS Secrecy Case Tuesday, 23 Jun 2009 | 6:01 AM ET
    UBS

    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.

  • Secretive Swiss Commodities Trader Mulls IPO: Report Friday, 19 Jun 2009 | 4:23 AM ET

    Glencore International, the discreet commodities trading house based in Switzerland, is considering listing on the stock market, the Financial Times reported Friday.

  • UBS Replaces Investment Bank Chief with Co-CEOs Monday, 27 Apr 2009 | 12:46 PM ET
    UBS

    UBS surprisingly replaced Jerker Johansson as the head of its investment bank on Monday with two of its senior executives.

  • Swiss Banker Who Broke Secrecy Rules To Be Jailed Friday, 24 Apr 2009 | 6:15 AM ET

    A Swiss court has increased the prison sentence handed to a former banker who broke the country's strict banking secrecy laws.

  • Novartis Drug Approved as Kidney Cancer Treatment Monday, 30 Mar 2009 | 6:09 PM ET

    A drug from Novartis has won U.S. approval as a treatment for patients with kidney cancer that has returned after treatment with older drugs.

  • 'Swiss Gigolo' Gets 6 Years in BMW Heiress Case Monday, 9 Mar 2009 | 1:07 PM ET
    Helg Sgarbi

    A man dubbed "the Swiss gigolo" by the German media was sentenced to six years in prison Monday for defrauding Germany's richest woman of $9 million (euro 7 million) and attempting to blackmail her for tens of millions more.

  • Geneva Motor Show: Fast Cars and the Credit Crisis Tuesday, 3 Mar 2009 | 11:13 AM ET
    Mercedes

    Geneva is hosting auto manufacturers from all over for the globe this week for the 79th International Motor Show. It’s no secret that the auto industry has been hit particularly hard since the onset of the recession, but as the as this year’s motto says, "the show must go on."

  • Tax Suspicions Grow on Swiss Accounts Thursday, 26 Feb 2009 | 7:00 AM ET
    UBS

    Federal authorities suspect the scandal over Americans’ secret offshore accounts at UBS, the big Swiss bank, runs far deeper than they believed only a week ago.

  • Rich Americans Sue UBS to Keep Names Secret Wednesday, 25 Feb 2009 | 9:00 AM ET

    UBS was sued on Tuesday in a Swiss federal court by wealthy American clients seeking to prevent the disclosure of their identities as part of a tax-evasion investigation by the United States Justice Department.

  • Should Swiss Banks Be Private? Thursday, 19 Feb 2009 | 7:12 PM ET

    Switzerland on Thursday embarked on a struggle to defend a landmark decision allowing bank giant UBS to transfer client data to the United States in a tax settlement that experts say will dilute bank secrecy laws, Reuters reported.

  • Charts Predict: Avoid Ghouls with a Silver Bullet Wednesday, 18 Feb 2009 | 6:11 AM ET

    Investors looking for havens to hide their cash are faced with only “ghoulish” options, but the Swiss franc, German Bobl and silver are the best of a bad bunch, Nicole Elliott, technical analyst from Mizuho Corporate Bank, told CNBC.

  • Warren Buffett says he is "delighted" to have an opportunity to increase Berkshire Hathaway's investment in Swiss Re by 3 billion Swiss francs, or about $2.6 billion.  Berkshire's cash infusion is seen as a vote of confidence in the troubled reinsurer, which is bolstering its capital position in an effort to save its credit rating.  As usual, however, Buffett will be well paid for his support.

  • Roche Sees Slower Growth as Profit Drops 5% Wednesday, 4 Feb 2009 | 4:46 AM ET

    Swiss drug maker Roche sees growth slowing this year after its 2008 profit fell 5 percent and missed expectations, hurt by a loss of pandemic Tamiflu sales and the strong Swiss franc.

  • BlackBerrys of the Rich and Famous Friday, 30 Jan 2009 | 2:47 PM ET

    I know the secret to success. It begins with an empty inbox for your email.

  • Jamie Dimon Interview Friday, 30 Jan 2009 | 9:16 AM ET

    Her's what the JPMorgan Chase boss has to say about the bank bank concept and the lending environment.