Switzerland
Swiss May Toughen Cartel Laws to Ease Franc Pain, NZZ Reports
…Schneider-Ammann aims to strengthen laws against price-fixing to ease the economic effect of a strong Swiss franc, reversing earlier policy decisions, NZZ am Sonntag reported today, citing people familiar with the issue. Over the next three weeks, the cabinet…
Swiss to pay 2 bln Sfr for German tax deal-paper
…in secret accounts, a Swiss paper reported. Germany had originally sought a payment of 10 billion francs but this was seen as too much for big banks UBS , Credit Suisse to manage, the SonntagsZeitung reported, citing unnamed sources involved in the talks. …
Swiss pay price for economy
…the franc’s surge. “The strong franc is causing enormous damage to our economy,” said Peter Lauener of Switzerland’s trade union federation SGB. “The Swiss National Bank has no choice but to set an upper limit on the value of the franc if we don’t want to…
UMDNJ professor admits he hid more than $2.5M from the IRS in Swiss bank accounts
PRINCETON — As associate director of the Cancer Institute of New Jersey and former director of its breast cancer research, Michael Reiss is well known for his work in the field of cancer therapy. But in the criminal justice system, the Princeton resident
Swiss Watch Makers Face Scrutiny in EU
By Goran Mijuk ZURICH—Swiss watch manufacturers are facing regulatory scrutiny in the European Union amid an industrywide investigation that aims to establish whether luxury watch makers such as Cie. Financière Richemont SA are refusing to supply spare p
Cancer Researcher Says He Used Swiss Accounts to Hide Assets From U.S.
…in November, was released on a $200,000 bond. Reiss had an account at Zurich-based UBS, the largest Swiss bank, starting in 2000 and transferred the assets in that account to another Swiss bank in 2002, prosecutors said in a statement. In 2003, he opened…
Swiss Stocks Close Out Dismal Week With Another Slide
…biggest losses during the session came from economically-sensitive stocks as well as from insurers. Swiss Life dropped 4.4 percent. ZFS retreated 2.5 percent. The major U.S
Switzerland pays price for fiscal sanity
…Switzerland’s trade union federation SGB, said tens of thousands of jobs were at risk unless the central bank sets an upper limit for the value of the franc. The Swiss National Bank’s announcement Wednesday that it would lower interest rates and pump money…
Swiss Stocks Fall Again
…fears. The simmering debt crisis in Europe is serving to add fuel to fire. Following the footsteps of the Swiss Central Bank, the Bank of Japan also announced measures to arrest the appreciation of the yen, which was brought about by the extreme risk aversion…
Swiss CPI Drops Again Keeping SNB On Its Toes
THE TAKEAWAY: CPI declines more than expected > Deflation may be creeping in > EURCHF climbs on intervention fears Consumer prices in Switzerland have come in showing a bigger decline than was forecast bringing deflation concerns back into view and may i
Swiss Franc (CHF) Technical Major Currencies (2011-08-05)
The bearishness seen yesterday and earlier today was expected but extended further than our estimations, yet this decline didn’t negate our suggested positive expectations, especially while Stochastic and RSI are positive. the upside movement is expected
Swiss consumer price inflation falls more-than-expected
…– Consumer price inflation in Switzerland fell more-than-expected last month, official data showed on Friday. In a report, Swiss Federal Statistical Office said that Swiss consumer price inflation fell to a seasonally adjusted -0.8%, from -0.2% in the preceding…
Swiss stocks – Factors to watch on Aug 5
ZURICH Aug 5 (Reuters) – The following are some of the main factors expected to affect Swiss stocks on Friday: A former UBS AG banker has been charged with helping at least 38 U.S. taxpayers hide at least $215 million in hidden Swiss accounts, federal
Swiss Stocks Plunge On Worries About European Debt, U.S. Economy
…fears. The simmering debt crisis in Europe is serving to add fuel to fire. Following the footsteps of the Swiss Central Bank, the Bank of Japan also announced measures to arrest the appreciation of the yen, which was brought about by the extreme risk aversion…
Swiss Action Not Enough
…of liquidity” to the money market over the next few days. A figure of CHF 80 billions was mentioned. The bank warned that the strength of Swiss Franc is “threatening the development of the economy and increasing the downside risks to price stability”, and…
Swiss Stocks Enter Bear Market After Longest Decline Since 1994
…economy prompted investors to buy the Swiss franc, reducing the value of exporters’ revenue. The broader Swiss Performance Index dropped 3.3 percent today. “There are worries about the global economy,” said Urs Beck, equities portfolio manager at Zuercher…
Why Japanese and Swiss intervention could be good for gold
…currency in the world. So now both the Swiss and the Japanese have been taking action this week. Switzerland cut its base rate to 0.25% (from 0.75%) and began printing billions of francs.
Euro drops to session lows vs Swiss franc
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Swiss Stocks Advance, Snapping Longest Losing Streak Since 2000
…high on Feb. 18 as Europe’s debt crisis and the slowing global economy prompted investors to buy the Swiss franc, reducing the value of exporters’ revenue. The broader Swiss Performance Index sank 0.6 percent today. To contact the reporter on this story: Corinne…
Swiss-German tax treaty undermines prospects for European tax cooperation
…citizens. This interest would then be taxed at 35%, from which Holland would keep a quarter and France the rest. The Swiss-German treaty will strengthen the hand of holdouts Austria and Luxembourg, who also pay anonymous withholding taxes rather than sharing…
