Europe Top News and Analysis Switzerland


  • Huge Glencore IPO Brings Secretive Firm to Market Sunday, 15 May 2011 | 7:04 PM ET
    The Glencore logo seen in front of the Swiss commodities giant's headquarters in Baar.

    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.

  • Strauss-Kahn.jpg

    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.

  • Avoiding Greece’s Lehman Moment Tuesday, 10 May 2011 | 2:13 AM ET
    A man walks outside the Bank of Greece headquarters during a demonstation against government's austerity measures in central Athens.

    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.

  • No Bin Laden Assets In Switzerland: Banker Wednesday, 4 May 2011 | 3:34 PM ET

    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 Has Bigger Risk Appetite Than Wall Street Tuesday, 3 May 2011 | 12:29 AM ET
    The headquarters of the Swiss commodities giant Glencore in Baar, Switzerland.

    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 Poised for Tax Bill Surge Thursday, 28 Apr 2011 | 2:49 AM ET
    The Glencore logo seen in front of the Swiss commodities giant's headquarters in Baar.

    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 Battle Heats Up Ahead of AGM Tuesday, 26 Apr 2011 | 12:46 PM ET

    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.

  • Britons in Demand for US Coverage of Royal Wedding Monday, 25 Apr 2011 | 8:06 AM ET
    Prince William and Kate Middleton

    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 Traders Urged Russia to Ban Grain Exports Monday, 25 Apr 2011 | 5:46 AM ET

    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.

  • tax_magnifying_glass.jpg

    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 Avastin Still Growth Driver: CEO Thursday, 14 Apr 2011 | 7:46 AM ET

    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.

  • Snowman Predicts a Long Hot Summer Tuesday, 12 Apr 2011 | 6:20 AM ET

    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.

  • Gaddafi Sons Said to Offer Plan to Push Father Out Monday, 4 Apr 2011 | 2:03 AM ET
    Libyans wave the French flag as they parade on a 155mm Howitzer belonging to Muammar Gaddafi forces in the eastern rebel-held city of Benghazi on March 21, 2011.

    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.

  • US Consumers Warm Up to Luxury Again Friday, 25 Mar 2011 | 11:52 AM ET

    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.

  • Some Weigh Restructuring Portugal’s Debt Friday, 25 Mar 2011 | 3:22 AM ET
    lisbon portugal

    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 Bags $14 Million Despite Share Slump Thursday, 24 Mar 2011 | 10:28 AM ET
    Credit Suisse

    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.

  • For Europe and China, Nuclear Crisis Renews Fears Thursday, 17 Mar 2011 | 4:50 AM ET
    Nuclear Power Plant

    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.

  • What Currencies Will Benefit From High Oil Prices? Monday, 14 Mar 2011 | 1:36 AM ET
    Dollars and Yen

    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.

  • Who Are Europe's Best Executives? Wednesday, 9 Mar 2011 | 1:42 AM ET

    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.

  • Gaddafi Wants to Abolish Switzerland Monday, 28 Feb 2011 | 9:48 AM ET
    Libyan leader Muammar Gaddafi

    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.