Latest Switzerland News
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Zurich Hotel Invites Guests to Live Life to Discover During Renaissance Hotels Global Day of Discovery
View Photo As part of Renaissance Hotel's unique global campaign, "Day of Discovery," the Renaissance Zurich Hotel will be inviting visitors to get a glimpse of one of the best new sports cars, the Jaguar XKR-S convertible. Click here for high-resolution ...
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Paramount srtikes deal to distribute Swiss-made films in Germany
Paramount Pictures, one of the California movie industry's biggest studios, will distribute movies made by a Swiss independent film company in Germany, it was learned this week. The ...
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UPDATE 3-Swiss parliament stalls progress of U.S. tax deal
Tue Jun 18, 2013 12:37pm EDT * Lower house votes against debate * Government warns of pending U.S. indictments * Bern scrambles to limit potential damage if bill rejected * More than a dozen banks under investigation * Bill referred back to upper house for debate, vote By Katharina Bart ZURICH, June 18 (Reuters) - Switzerland's lower house of parliament has stalled a government bid to ...
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Swiss law body stalls bank bill
Switzerland's lower house of parliament has stalled the government's bid to protect the country's banks from criminal charges in the US for helping wealthy Americans evade tax.The lawmakers refused to address a bill aimed at allowing banks to sidestep strict Swiss secrecy laws by disclosing their US dealings to prosecutors, which would help them to strike deals expected to include ...
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Swiss banks US tax-evasion deal on hold
Switzerland’s lower house of parliament has stalled progress on a tax-evasion deal with the US government. Washington is chasing wealthy Americans with cash in secret accounts in banks there. The Swiss government wants to pass a law allowing banks to sidestep the country’s strict secrecy rules and disclose some account holders’ details to US prosecutors. Banks will not be ...
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Swiss Balk at Bank Disclosures to US Authorities
Swiss lawmakers are balking at ending the country's long-time bank secrecy tradition so the financial institutions can tell U.S. authorities about suspected American tax ...
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Former UBS trader charged in Libor case
City of London police have charged a former UBS trader with eight counts of conspiracy to defraud, as part of the investigation into the manipulation of the London interbank offered rate, or Libor, uncovered last year. Britain's Serious Fraud Office says the 33 year old, who also worked for Citigroup, was charged in London on Tuesday with conspiracy to defraud in connection with the ...
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China eyes early Geneva meeting on Syria warns against escalation
The priority for resolving the Syrian conflict is to hold the Geneva peace conference and avoid any action that may escalate tensions, a Foreign Ministry spokeswoman said Tuesday."It is urgent to hold the second peace conference in Geneva as soon as possible and avoid any action that might escalate the situation," spokeswoman Hua Chunying said at a daily press briefing.Hua's ...
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Swiss bank accounts get to stay secret
Credit Suisse is one of hundreds of Swiss banks facing possible U.S. legal action after the Swiss parliament blocked legislation that would have allowed the sharing of account information with U.S. tax ...
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Swiss lawmakers nix bank deal with U.S.
Credit Suisse is one of hundreds of Swiss banks facing possible U.S. legal action after the Swiss parliament blocked legislation that would have allowed the sharing of account information with U.S. tax ...
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Switzerland Pushes Back Against Tax Deal
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 ...
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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 ...
Switzerland Featured
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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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