Friday 27th January, 2012
Swiss bank felled by U.S. tax dispute
Switzerland's oldest private bank, Wegelin & Co., says it is selling most of its business to the Raiffeisen Group amid a dispute with U.S. authorities over tax-cheating ...
Davos Open Forum gives lessons in leadership
But while participants in the meeting - which takes place on the sidelines of the World Economic Forum - agreed on the need to think out of the box, they gave few details on which path was the best ...
Swiss Re’s Chief Economist Sees Fed Actions Calming Debt Crisis
Swiss Re’s Chief Economist, Kurt Karl, has predicted that the decision by the Federal Reserve to maintain the target fed funds rate at zero to 25 basis points would help calm some of the ...
Swiss Private Bank Wegelin Agrees to Sale Amid U.S. Tax-Evasion Crackdown
General SourcesWegelin & Co., the 270-year-old Swiss private bank, agreed to a sale to Switzerland's Raiffeisen Group after coming under investigation in the U.S. for allegedly helping Americans evade ...
UPDATE 4-Oldest Swiss bank falls victim to US tax probe
General Sources's oldest bank, broke itself up on Friday, buckling under the pressure of a long-running campaign by U.S. authorities against tax cheats hiding cash in secret Swiss accounts. The ...
US tax scandal brings down Wegelin
Swiss InfoSwitzerland's oldest private bank, Wegelin & Co, will sell most of its business to the Raiffeisen Group amid a dispute with United States tax ...
Chechen Owner of Swiss Soccer Club Arrested Amid Bankruptcy Probe
Spero NewsProsecutors in Switzerland say they have arrested the Chechen owner of a Swiss soccer club after the team filed for bankruptcy. The provisional arrest of Bulat Chagaev, owner of the Neuchatel ...
Switzerland important in control of cargo transit through Georgia-Russia borders
News.AzDavit Bakradze hosted Swiss delegation. Chairperson of the Parliament of Georgia Davit Bakradze hosted the delegation of the Foreign Affairs Department of Switzerland today and discussed bilateral ...
Women's World Cup Super-Combined Results
General SourcesST. MORITZ, Switzerland (AP) -- Results Friday from a women's World Cup super-combined event on the Engiadina course (downhill run followed by slalom): 1. Lindsey Vonn, United States, 2 ...
New Africa emerging to defy the odds
Swiss Info"Sub-Saharan Afica is continuing to resist the financial crisis thanks to its previous sound macro-economic policies. Growth in some countries is back to where it was before the crisis ...
Swiss money missing from Romney disclosure
UPIRepublican presidential hopefuls Newt Gingrich (L) and Mitt Romney greet each other prior to the CNN Florida Republican Presidential Debate in Jacksonville, Fla., Jan. 25, 2012. UPI/Mark ...
Transocean Rises After U.S. Court Indemnity Ruling: Zurich Mover
General SourcesJan. 27 (Bloomberg) -- Transocean Ltd. rose the most in almost five months in Swiss trading after a U.S. court ruled that BP Plc must indemnify it for pollution-related economic damage claims ...
WISeKey Hosts the Davos Swiss Night at the World Economic Forum in Cooperation with Hublot
General SourcesSwitzerland to become a member in such a short time; other technology companies with the distinction include Google and Facebook. WISeKey is using its new status with the WEF to promote Swiss ...
Swiss Stocks Holding Steady
General Sources1/27/2012 7:37 AM ET (RTTNews) - The Swiss stock market is showing a fractional gain in mid-day trading on Friday.With little definitive news to drive the overall market, stocks have bounced around ...
Forex - Swiss KoF Goes Negative
FXstreetUSD selling continued for the majority of yesterday's session. EM & commodity currencies have been a primary recipient to inflows. USDTRY sank to 1.7862, while USDRUB gapped lower at the ...
Swiss Prosecutors Mull Extending Chagaev Arrest
RIA NovostiSwiss prosecutors said Friday they were considering keeping Chechen businessman Bulat Chagaev in detention for the weekend after arresting him over suspected fraud at his Swiss SuperLeague side ...
We're Coping in Low-Rate Environment: Zurich CEO
General Sources, is going to likely have an impact on industries like insurance that depend on investment income. But Zurich Financial Services CEO Martin Senn says the insurer is coping well in a low interest ...
Swiss National Bank May Weaken Franc ‘Any Day Now,’ Deutsche Bank Says
General SourcesSwiss National Bank may sell the franc "agressively" in the coming days to protect its ceiling for the currency against the euro, Deutsche Bank AG said. "Central bank intervention ...
Switzerland: KOF Leading Indicator drops to -0.17 in January
General SourcesFXstreet.com (Barcelona) - The Swiss KOF Leading Indicator fell to -0.17 points in January, following 0.01 points registered the previous month, according to data released today by KOF Economic ...
Logitech Cuts Forecasts on Euro, Slowing Sales: Zurich Mover
BusinessWeekJan. 26 (Bloomberg) -- Logitech International SA, the world’s biggest maker of computer mice, dropped the most in nine months in Zurich trading after cutting full-year forecasts for the third ...
LCP moves further into Swiss market
European PensionsPensions and investment consultants Lane Clark & Peacock has expanded its Swiss operations with the launch of LCP Asalis. The new investment consulting practice will provide bespoke, ...
Swiss economy still suffering
European PensionsThe prospects for the Swiss economy have changed marginally in the latest Financial Market Test Switzerland, conducted by Credit Suisse in cooperation with the Centre for European Economic ...
Recession looms for Swiss economy
European PensionsThe Swiss economy is set to slide into recession in 2009, predict experts at Credit Suisse. Switzerland’s real economy finally felt the full force of the financial crisis in late 2008. ...
Swiss economy will neither boom nor bust
European PensionsThe Swiss economy is expected to neither boom nor go bust in 2009, according to economists at Credit Suisse. Thus far, the Swiss economy has proven to be robust, and although the current ...
Zurich Ireland outperforms market despite slump in new Life Insurance business
European PensionsThe Irish branch of Zurich (Eagle Star Life) has revealed that for the six months ending June 2008 it has outperformed the market, with Pensions Annual Premium new business of €47.4 ...
Aberdeen opens in Zurich
European PensionsAberdeen Asset Managers (Aberdeen) has opened new offices in Zurich, allowing enhanced levels of business in Switzerland, where the group has already been present for ten years. Aberdeen ...
BW Switzerland Opens Hotel Catering to Tall Guests >
Best WesternBest Western Switzerland Opens Hotel Catering to Tall GuestsBERN (Sept. 24, ...
Swiss Franc December Pivot at 9176 is of Interest
General SourcesThe USDCHF slid just below the 12/8 pivot (9176) before closing near its high today. The near term pattern is an inverse of the EURUSD so one should treat the decline from 9379 as a diagonal. A wave ...
Vonn leads 2nd downhill practice run in St. Moritz
General SourcesST. MORITZ, Switzerland (AP) -- Lindsey Vonn took advantage of perfect weather and changes to the course to lead a training run Thursday for a World Cup downhill race. She improved upon her first ...
Romney failed to disclose income from Swiss bank
Deseret NewsAnn Romney failed to list investment income from a Swiss bank account on financial disclosure forms filed last year. Other income was missing from the disclosure documents required of presidential ...
DM Barak Meets with Swiss DM Maurer
IMRA) Defense Minister Ehud Barak today (Thursday), 26.1.12, at the World Economic Forum in Davos, met with Swiss Defense Minister Ueli Maurer. The two men discussed a host of regional issues, ...
Switzerland buys tri-mode aircraft
UPIMANASSAS, Va., Jan. 26 (UPI) -- U.S. company Aurora Flight Sciences says it has its first customer for its Centaur Optionally Piloted Aircraft -- Switzerland. The Swiss Department of Defense has ...
Switzerland Must Be ‘Vigilant’ on Risks of Franc Limit, FSB Says
General SourcesJan. 26 (Bloomberg) -- The Swiss National Bank’s franc limit against the euro may cause the country’s economy to overheat if authorities aren’t vigilant to its effects, according ...
Young Boys lets Sutter discuss move to Blackburn
General SourcesBERN, Switzerland (AP)—Swiss club Young Boys says Switzerland defender Scott Sutter has left its winter training camp in Spain to open contract talks with Blackburn. Young Boys says in a ...
World Economic Forum in Switzerland: Global Elites Celebrating Hypocrisy
Infowars IrelandNew American January 26, 2012 Global elites -- many of the 2,500 of them billionaires -- are spending a few days in Davos, Switzerland, attending ...
Swiss finmin hopes US tax row solved this year
Times of IndiaDavos at solving a dispute with the United States over untaxed money stashed in secret Swiss bank accounts and hopes for a deal this year, its finance minister said on Thursday. "We hope to ...
Gingrich Attacks Romney Over Swiss Accounts
Business Week"We aren’t that stupid and you aren’t that clever," Gingrich said, referring to Romney, at a campaign stop today in Mount Dora, ...
Swiss sprinter Pascal Mancini sues doctor
General SourcesMancini was mistakenly injected with nandrolone instead of cortisone, an anti-inflammatory painkiller, last September.Mancini will skip the indoor season, including the world championships in ...
Prosecutors arrest Swiss club Xamax's owner
General SourcesChagaev was taken into custody by Geneva cantonal prosecutor Yves Bertossa. His provisional arrest was ordered after a hearing held Thursday afternoon. Another hearing was scheduled for Friday, ...
Apax Said to Plan $1.5 Billion Orange Switzerland LBO Financing
General SourcesJan. 26 (Bloomberg) -- Apax Partners LLP plans to raise 1.4 billion Swiss francs ($1.5 billion) of loans and bonds for its leveraged buyout of France Telecom SA’s Orange Switzerland ...
China forecast to remain global growth engine
Swiss InfoThe prospects of continued Chinese economic growth remain excellent despite obstacles to stimulating consumer spending, the World Economic Forum (WEF) has ...
Swiss Club Xamax Lose Ban Appeal
RIA NovostiA Swiss club belonging to Chechen businessman Bulat Chagaev have lost their appeal against their expulsion from the league over financial irregularities, the Swiss Football League said Thursday. ...
Swiss club Neuchatel Xamax files for bankruptcy
General SourcesNEUCHATEL, Switzerland (AP)—Amid a deepening crisis and spiraling debts, Neuchatel Xamax said Thursday it would file for bankruptcy after the Swiss league withdrew its license to play. The ...
Swiss International Hotels & Resorts Announce Expansion in Greater China
General SourcesSwiss International Hotels today announced it has signed an agreement with HuaYuan Group of Xiamen, China to develop Swiss International Hotels in Greater China. The transaction, assisted by ...
Schneider-Ammann Says Swiss Franc Cap Was Important Step to Help Economy
General SourcesSwiss central bank 's decision to impose a franc ceiling of 1.20 versus the euro was the "most important step" to help bolster the economy. "The first and second quarter ...
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