Latest Switzerland News
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Swiss lower house refuses to vote on US bank deal
View Photo AFP/Fabrice Coffrini - A Swiss flag behind a sign for banking giant UBS in Basel last week. Swiss lawmakers refused on Tuesday to vote on a deal with the United States exposing US tax dodgers with ...
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Swiss Parliament Pushes Back on US Banks Deal
ZURICH--Swiss lawmakers have heightened the tension surrounding a plan for the country's banks to collectively come clean to U.S. authorities about their dealings with suspected American tax evaders. The lower house of Switzerland's parliament voted against adopting a plan for banks to step around the Alpine nation's banking secrecy laws and start handing information to the ...
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Swiss bill on bank secrecy blocked
The lower house of Switzerland's parliament has rejected a bill that would allow Swiss banks to pass client information to the US tax authorities. The bill is the result of pressure from the US following revelations that Swiss banks had helped American account holders to evade taxes. The US had demanded action by 1 July, but the Swiss parliament summer session ends this week. The bill ...
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G8 leaders work to develop Syria statement acceptable to all
Group of Eight leaders worked to develop a statement on Syria acceptable to nations wanting a transition of power and Russia, an ally of the Syrian government. Accounts differed from officials Tuesday morning at the G8 summit in Northern Ireland on the prospects of developing a substantive agreement on Syria and the fate of its president, Bashar Assad, to which Russia might sign on, The New ...
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RPT-Fitch Taxable CEFs remain an attractive lending segment under Basel III
Tue Jun 18, 2013 9:03am EDT (Repeat for additional subscribers) June 18 (Reuters) - (The following statement was released by the rating agency) Basel III banking capital requirements are expected to increase borrowing costs across lending segments, and potentially result in diminished availability of bank-provided credit as banks may focus on reducing their exposure to lower rated and more ...
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Lake Zurich may allow permits for alcohol in parks
A sign at the entrance to Henry J. Paulus Park in Lake Zurich warns against bringing alcohol into the park. That could change if the village passes a proposed ordinance ...
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Parliament vote stalls US tax settlement
The House of Representatives has voted against a planned law allowing Swiss banks to hand over data of suspected tax dodgers to the United States. The bill will now go back to the Senate. A majority of opponents on Tuesday argued the law violated Swiss sovereignty and didn't provide eitherenough information about possible consequences or assurances from the US to protect bank employees.The ...
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Swiss Lower House Votes Against Debating U.S. Untaxed Assets Law
Switzerland 's parliament voted against further deliberations of a law allowing Swiss banks to cooperate with the U.S., making it less likely the bill will pass. After almost three hours of deliberations, lawmakers in Bern voted 126 to 67 against discussing the draft law, following recommendations of the economics committee. The proposal has proved controversial among ...
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Parliament puts spanner into tax row settlement
The House of Representatives has given short shrift to a planned law allowing Swiss banks to hand over data of suspected tax dodgers to the United States. However, the parliamentary procedure will ...
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Charting new brain territories
The Lake Geneva region, and the Federal Institute of Technology in Lausanne (EPFL) in particular, is fertile territory for medical technology research and the creation of start-ups. Expectations are high about the impact of the Human Brain Project, an ambitious EUR1 billion (CHF1.2 billion) programme funded by the European Union exploring new ways of mapping the human brain and led by a team at ...
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Lake Zurich hosts inaugural Iron Girl triathlon
Competitors in the inaugural Athleta Iron Girl Lake Zurich listen to the National Anthem before starting the race Sunday. | Cynthia Wolf~For Sun-Times ...
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VIDEO Switzerland vote on bank secrecy
As world leaders grapple at the G8 with the thorny issue of tackling tax evasion - Switzerland's parliament is set to vote on a controversial bill on Tuesday which would allow Swiss banks to pass client information to the US tax authorities. The deal is the result of huge pressure from Washington, in the wake of revelations that some Swiss banks helped American account holders to evade ...
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Expanding Switzerland’s ‘Health Valley’
Backed by billionaires, a major new biotech research initiative in Geneva dubbed 'Campus Biotech' looks set to shift Switzerland's 'Health Valley' up a gear. Coming after major job losses in the region, it is receiving a cautious ...
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White House aide Finding G8 unity on Syria key
Seeking consent on Syria amid a West-Russia schism over its future is a key job of Group of Eight leaders ending their summit Tuesday, a White House aide said. "I think it's fairly evident that there's a difference of view on Syria between the United States and some of our -- well, the former G7 -- and Russia," White House deputy national security ...
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Switzerland Withholds EUR615m In 2012 In EU Interest Tax
According to the Swiss Federal Department of Finance, gross revenue generated from the system of tax retention on interest payments made in Switzerland to European Union (EU) taxpayers, amounted to CHF615.4m (USD666.6m) for the 2012 tax year. This figure compares with the CHF506.5m withheld by the Confederation in 2011. In compliance with the agreement between Switzerland and the EU on the ...
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Lake Zurich trustees vote in favor of forgoing pensions
Lake Zurich trustees Monday night voted in favor of ending their participation in the Illinois Municipal Retirement Fund pension plan because they don't work enough hours to qualify. As part of a random audit, IMRF required Lake Zurich to provide certification that the position of trustee requires a minimum of 1,000 hours ...
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Catbot Swiss ‘cheetah-cub’ robot gets feline biomechanics
Transport Swiss scientists are challenging nature, constructing a 'cheetah-cub' robot that imitates a cat's movements. Though it still lacks a head for guidance and its electricity-supplying tail is way too long, it could be used for exploration and rescue. The quadruped robot with finely mimicked feline morphology was designed at the Biorobotics Laboratory (Biorob) at Ecole ...
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Carl Elsener Businessman who transformed the Swiss Army Knife into a global product
Starting as a teenage apprentice cutler, Carl Elsener went on to turn a relatively simple penknife into the global phenomenon that is the multi-functional Swiss Army Knife. He worked for the Swiss family firm Victorinox for 70 years, 57 of them as CEO, and retained the honorary, almost spiritual title "Senior Leader" until his death at the age of ...
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Switzerland world's most competitive country
Switzerland is frequently pointed to as a model of good governance, prosperity, innovation and stability and is one of the happiest countries in the world. The recent competitive survey by the WEF underscored this, but came with a warning.
Switzerland truly is an impressive country, landlocked and small with no natural resources; it has developed into one of the richest countries in the world and was recently named the most competitive economy in the world. This is due in large part to its banking sector, which is one of the most advanced and its government structure, which is efficient in comparison to many other developed countries. Read more
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