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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An unfortunate turn in Swiss-Libyan diplomatic relations in 2008 may now have a silver lining for the Alpine economy.
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A new law devised to help Greece crack down on tax cheats is only one of the many efforts Greek authorities have made over the past year to change what has long been a way of life in this country — rampant tax evasion. But so far, to little avail. The New York Times reports.
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The Egyptian military defends the country, but it also runs day care centers and beach resorts. Since the ouster last week of President Hosni Mubarak, of course, the military also runs the government. And some say it has already begun taking steps to protect the privileges of its gated economy, reports the New York Times.
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Spanish savings banks, which have been ordered to raise more capital by the government, are facing an uphill struggle to persuade investors to help them improve their balance sheets, reports the New York Times.
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Bradley Birkenfeld once lived the high life as secret Swiss banker at UBS in Geneva. Then he delivered some of the world’s best-kept secrets to the US government, expecting a great reward. And now he sits in federal prison in Pennsylvania.
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Delays in the announcement of the bonuses at UBS were not due to executives' unhappiness about the size of the bonus pool, UBS CEO Oswald Gruebel told CNBC Tuesday.
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Switzerland has witnessed an inflow of Russian oil traders, bolstering the country’s claims to be the world’s leading trading center for physical oil, industry executives said. The FT reports.
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The French financial markets regulator has begun to require hedge funds and other investment managers to disclose their short positions when they reach 0.5 percent of a company’s outstanding stock, reports the New York Times.
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A central banker need not be loved, but at the least he should command respect — and in Britain these days Mervyn King cannot count on either, reports the New York Times.
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As protests continued for a 12th day, Egypt's newly named vice president and other top military leaders were discussing steps to limit President Mubarak’s decision-making authority and possibly remove him from the presidential palace in Cairo, the NYT reports.
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When the heads of the EU meet in Brussels on Friday, they will hear new ideas on how to save the euro, delivered by Mrs. Merkel and the French president, Nicolas Sarkozy, but written largely in Berlin, reports the New York Times.
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The use of technology and learning from other countries are two good ways to boost the US education system, Bill and Melinda Gates, cofounders of the charitable organization the Bill and Melinda Gates Foundation, told CNBC Friday.
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Top management at Google plans no major changes in its direction, even though two of the top executives shifting roles in April, CEO Eric Schmidt told CNBC Friday.
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The U.K.'s most recent GDP showing was disappointing, but the government can policy make adjustments to improve future performance, Britain's Chancellor of the Exchequer George Osborne told CNBC Friday.
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Cash is flowing briskly again, two years after the worst economic crisis since the Great Depression, and is fueling the global economic recovery, JPMorgan Chase CEO Jamie Dimon told CNBC.
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China's red-hot economy is fueling inflationary gains in commodities prices, but inflation in emerging markets is nevertheless 'looking manageable" at this point, Dow Chemical boss Andrew Liveris told CNBC in Davos.
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"I think there is much more confidence now that we've got a sustainable expansion. It is not a boom," says the U.S. Treasury Secretary.
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The US needs to change the way it is spending money if it wants to ensure a sustainable recovery, Joseph Stiglitz, economy professor at Columbia and a Nobel prize laureate, told CNBC Friday from Davos.
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Bank of America does not need to raise fresh capital to comply with the new regulations shaping the financial world and the quality of its credit portfolios is getting better, CEO Brian Moynihan told CNBC.
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Royal Dutch Shell is seeking to grow organically and sees demand for oil and gas rising over the next years, CEO Peter Voser told CNBC Friday in an interview from Davos.