Switzerland
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Switzerland is set to bow to years of pressure from the EU by overhauling the system of tax privileges that has helped entice thousands of multinational firms to the country.
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For now, at least, investors seem to believe that the United States has enough shock absorbers to comfortably withstand a default by Greece, the New York Times reports.
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Market volatility and uncertainty in the euro zone are limiting the options for the Swiss National Bank (SNB), which held rates at the historic low of 0.25 percent Thursday, Chairman Philipp Hildebrand told CNBC.
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Human resources consultant ECA International has drawn up its latest list of the world’s most expensive cities for U.S. expatriates. Check out the list!
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Bond traders and officials at the European Central Bank have been unified in their warnings that a restructuring of Greece’s debt would set off an investor panic similar to the one that followed the bankruptcy of Lehman Brothers, the New York Times reports.
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Forget LinkedIn (for five minutes)... it's IPO Tuesday and we're not gonna mention the social network again on this page. Time to line up for the Russian Google, a Swiss commodities giant and America's toxic assets survivor. Here's what we're watching...
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Given this type of market volatility, conventional wisdom would suggest this isn’t the best environment or time for a commodity company to raise capital through an initial public offering. Glencore though, doesn’t appear unduly concerned about the wild market moves.
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Europe’s banking regulator will unveil the results of a third round of stress tests of its banks next month, but analysts have little hope that they will calm investors' nerves.
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The French finance minister, Christine Lagarde, was on a panel at the World Economic Forum in Davos this January when her usual smile turned into a frown. Next to her, Robert E. Diamond Jr., chief executive of Barclays and one of the most powerful bankers in the world, thanked regulators and finance ministers for their role in shaping a better environment after the financial crisis.
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The S&P 500 and MSCI emerging market index are both sitting on healthy gains since the start of the year but the Swiss SMI is range bound around 6,500 points. Why? One analyst believes it is all down to the weak dollar.
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High energy prices, expensive air fares, natural disasters, security concerns, high unemployment and a weak dollar may all keep Americans at home. The question is whether it literally means their own home.
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Swiss-based commodity trader Glencore is set to unveil the pricing of its mammoth $12 billion dual IPO in London and Hong Kong later this week, and in what will be be the biggest IPO of the year and the largest in the UK to date, its shares are expected to start regular trading on the London exchange on May 24 and in Hong Kong just one day later.
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The managing director of the IMF, Dominique Strauss-Kahn, was taken off an Air France plane in New York on Saturday and arrested in the sexual attack of a maid at a Midtown Manhattan hotel, the authorities told the NY Times.
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Restructuring Greece’s debt is both desirable and inevitable, despite insistence from European Union officials over the weekend that the idea is off the table, reports the New York Times.
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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.
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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.
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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.
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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.
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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.
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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.
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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.