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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.