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....Reports suggest the man may have spied on German tax investigators. Tax authorities in Germany have controversially bought CDs of information from whistleblowers in Swiss banks as they try to catch German residents with Swiss bank accounts. ... [Read full article on BBC ]
Sunday 30th of April 2017 02:18:37 PM
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.... He is suspected of monitoring German tax investigators. Switzerland objects to the practice of buying data stolen from Swiss banks. ... [Read full article on BBC ]
Thursday 4th of May 2017 11:22:21 AM
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Latest Finance News related to Swiss Bank

Swiss 'spied inside German ministry' in tax scandal image
Source : BBC [Read Article] Thursday 4th of May 2017 11:22:21 AM
.... He is suspected of monitoring German tax investigators. Switzerland objects to the practice of buying data stolen from Swiss banks. ...
Swiss 'tax spy' arrested in Germany image
Source : BBC [Read Article] Sunday 30th of April 2017 02:18:37 PM
....Reports suggest the man may have spied on German tax investigators. Tax authorities in Germany have controversially bought CDs of information from whistleblowers in Swiss banks as they try to catch German residents with Swiss bank accounts. ...
Credit Suisse plans £3bn fundraising to boost capital image
Source : BBC [Read Article] Wednesday 26th of April 2017 06:27:10 AM
....That compares with a 302m Swiss franc loss a year ago. Swiss banks are under pressure from regulators to boost capital to protect them from financial shocks. ...
Credit Suisse bosses slash bonuses 40 percent image
Source : Guardian [Read Article] Friday 14th of April 2017 03:10:01 PM
....Credit Suisse bosses have cut their bonuses by 40% in the hope of avoiding an embarrassing protest by shareholders and politicians at the bank’s annual meeting. The bank’s executives, led by chief executive Tidjane Thiam, had proposed paying themselves bonuses totalling 78m Swiss francs (£62m) even though the Swiss bank lost SFr2. ...
Credit Suisse bosses offer to cut their own bonuses by 40% image
Source : BBC [Read Article] Friday 14th of April 2017 01:30:19 AM
....The move follows pressure from Swiss lawmakers and the bank's shareholders to address excessive executive pay. The Swiss bank has posted two straight years of losses but its top 12 executives were awarded 78m Swiss francs ($77m;£62m) in pay this year. ...
Speedboat among £5.1m of assets seized in tax fraud investigation image
Source : Guardian [Read Article] Wednesday 5th of April 2017 06:53:57 PM
.... The Dutch authorities said they suspected the couple, who own a marketing company in Manchester, committed tax fraud via a complex web of companies and offshore bank accounts in several countries. The arrests were part of a fresh Dutch-led crackdown on offshore tax evasion after the leak of thousands of “black” accounts held at Swiss bank Credit Suisse. ...
Jewellery and cars seized as Dutch trigger multi-country tax raids image
.... . They are investigating about 3,800 Dutch-linked accounts in an unnamed Swiss bank following a tip-off they could contain undeclared assets. ...
Credit Suisse embroiled in major global tax evasion investigation image
Source : Guardian [Read Article] Friday 31st of March 2017 08:17:57 AM
....Dutch prosecutors acted after receiving a tip-off on assets hidden within “offshore accounts and policies”, estimated in the millions of euros. They say the information concerns a single Swiss bank, but have so far declined to name the target. ...
UBS charges customers to deposit euros image
Source : BBC [Read Article] Wednesday 22nd of March 2017 03:27:40 PM
. Swiss bank UBS will start charging customers who deposit more than a million euros, as negative interest rates hit banks' profits. ...
UK millionaires think Brexit will make them even richer, survey finds image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 06:35:35 AM
. Most of Britain’s millionaires reckon Brexit will make them even richer, according to a survey by wealth managers at Swiss bank UBS. ...
Goldman Sachs to move hundreds of staff out of London due to Brexit image
Source : Guardian [Read Article] Tuesday 21st of March 2017 05:26:34 PM
.... HSBCboss Stuart Gulliver has said 1,000 roles will move to Paris in about two years, when Brexit becomes effective. Swiss bank UBS has indicated that 1,000 of its 5,000 staff could shift, possibly to Frankfurt or Madrid. ...
Student digs in Britain giving first-class returns image
Source : Guardian [Read Article] Thursday 16th of March 2017 03:40:59 PM
The oil deal, the disgraced former minister, and $800m paid via a UK bank image
....Whatever the explanation, the transfer immediately ran into difficulties. BSI Lugano, a Swiss bank, rejected the payment, citing Etete’s money-laundering conviction. ...
Frankfurt prepares for Brexit bankers: 'Maybe our city will change them' image
Source : Guardian [Read Article] Friday 27th of January 2017 07:15:19 AM
....And while banks and businesses have kept their cards close to their chests regarding any planned moves, there is much anecdotal evidence that some will take place before, not after, Britain’s exit. The decision announced last month by Swiss bank UBS to set up a new entity called UBS Europe SE in Frankfurt is being widely interpreted as the first major Brexit-influenced move. ...
Citigroup plans new operations away from London after Brexit image
Source : Guardian [Read Article] Tuesday 24th of January 2017 07:49:23 PM
.... He told a conference in Dublin he thought many other financial firms with London operations would be working to a similar timescale. The City is rife with speculation that the triggering of article 50 – which is planned for March and will signal the formal negotiations to leave the EU – will lead to major US, Japan and Swiss banks in the UK implementing their Brexit contingency plans. ...
Goldman Sachs stalls plan to move jobs to UK amid Brexit uncertainty image
Source : Guardian [Read Article] Thursday 19th of January 2017 01:15:50 PM
....The warning from Goldman came as other major City employers used the Davos summit in Switzerland to warn that jobs would have to be moved from London. HSBC’s chief executive, Stuart Gulliver, has reiterated that 1,000 roles will “move in about two years’ time, when Brexit becomes effective”, while the Swiss bank UBS has acknowledged that 1,000 of its 5,000 staff could shift, possibly to Frankfurt or Madrid. ...
Deutsche Bank agrees $7.2bn penalty with US regulators image
Source : BBC [Read Article] Friday 23rd of December 2016 03:48:53 AM
US justice department accuses Barclays over mortgage mis-selling image
Source : Guardian [Read Article] Thursday 22nd of December 2016 10:59:23 PM
.... Deutsche’s chief executive, John Cryan, has repeatedly insisted that it will not agree to pay such a penalty for a mis-selling saga that dates back to 2005. Earlier this week Reuters reported that the Swiss bank Credit Suisse had been asked to pay between $5bn and $7bn to settle the long-running investigation. ...
Singapore convicts banker in 1MDB case image
Source : BBC [Read Article] Wednesday 21st of December 2016 09:25:02 AM
....A Singapore banker has been convicted for his role in moving money that had originated from Malaysian state investment fund 1MDB. Yeo Jiawei was working for Swiss bank BSI at the time of the offences. ...
HSBC calls for Theresa May to clarify status of EU nationals image
Source : Guardian [Read Article] Monday 7th of November 2016 12:01:55 PM
.... Gulliver, though, was careful not to put a date on his departure, saying the appointment of the new chairman would “dictate on what timescale and by whom I’m replaced and what stage I retire”. Gulliver has embarked on a strategy to clean up the bank following a series of scandals and the revelations last year about how HSBC’s Swiss banking arm helped wealthy customers dodge taxes. ...
Singapore orders bank closure and fines over 1MDB links image
Source : BBC [Read Article] Tuesday 11th of October 2016 03:27:20 AM
....In July, MAS had announced plans to take "firm regulatory actions" against four major banks over their dealings with 1MDB, which is at the centre of a global corruption investigation. In May, the regulator had closed down another Swiss bank, BSI, for similar violations, the first time it ordered a bank to shut in 32 years. ...
Chinese investors pay A$88.88m for Sydney property image
Source : BBC [Read Article] Wednesday 28th of September 2016 05:19:15 AM
.... They just chose these numbers for luck and as it turned out their luck was with them". According to Swiss bank UBS, the housing market in Sydney "has been overheating since the city became a target for Chinese investors several years ago". ...
London houses are second most over-valued in world - UBS image
Source : Guardian [Read Article] Tuesday 27th of September 2016 12:43:11 PM
. London now has the second most over-valued property market in the world, beaten only by Vancouver in Canada, according to a new “Bubble index” compiled by Swiss bank UBS. ...
UBS says 1,500 jobs may go after the UK leaves the EU image
Source : BBC [Read Article] Tuesday 6th of September 2016 03:39:16 PM
. The Swiss banking group UBS says that up to 1,500 of its jobs in London may be moved abroad once the UK leaves the European Union. ...
Firms giving advice on aggressive tax avoidance could face large fines image
Source : Guardian [Read Article] Tuesday 16th of August 2016 11:01:16 PM
....Firms including PriceWaterhouseCoopers, KPMG, Deloitte and Ernst & Young and a select band of tax lawyers have previously been accused by MPs on the public accounts committee (PAC) of helping major corporate clients to minimise tax by exploiting complex schemes. Thousands of wealthy individuals, meanwhile, were revealed to have avoided tax on their Swiss bank accounts through offshore companies marketed by HSBC and other European lenders. ...
Corporate clone image
Source : BBC [Read Article] Monday 25th of July 2016 11:13:55 PM
....It's certainly something we'd like to believe. When Swiss bank UBS's 44-page dress code, which advised client-facing staff on everything from appropriate underwear to the importance of regular haircuts, was leaked in 2010 it was widely mocked. ...
Singapore seizes $177m as part of Malaysia corruption probe image
Source : BBC [Read Article] Thursday 21st of July 2016 07:11:50 AM
....Singapore is trying to maintain its reputation as a corruption-free international finance and banking hub and is taking a stern stance towards any illicit fund flows. Swiss bank BSI was kicked out of the city in May for "serious breaches" of Singapore's anti-money laundering rules in its business dealings with 1MDB. ...
Ex-UBS trader Kweku Adoboli loses UK deportation appeal image
Source : BBC [Read Article] Wednesday 20th of July 2016 01:04:22 AM
.... . His unauthorised trading lost the Swiss bank £1. ...
'Believe in yourself' image
Source : BBC [Read Article] Monday 11th of July 2016 11:06:02 PM
.... Newswire Thomson Reuters found a strong link between mixed gender boards and a better performance for shareholders when it analysed boardroom diversity at 4,100 listed firms and measured their performance between 2008 and 2013. And Swiss bank Credit Suisse, which looked at the performance of 3,000 companies around the world, concluded that those businesses with at least one woman on the board outperformed those with no women by an average of 2% a year between 2012 and 2014. ...
Shares lifted by strong US jobs figures image
Source : BBC [Read Article] Friday 8th of July 2016 07:48:37 AM
....8%. In London, property shares were doing well after Swiss bank UBS said the sell-off in the sector was "overdone". ...
Property market lull may follow vote to leave EU image
Source : BBC [Read Article] Friday 24th of June 2016 11:58:50 AM
.... . David Tinsley, from Swiss bank UBS, said the Bank of England's Monetary Policy Committee (MPC) was expected to make interest rate cuts and extend its quantitative easing programme. ...
EU referendum: What next for the world's central banks? image
Source : BBC [Read Article] Friday 24th of June 2016 05:12:23 AM
....There are arrangements known as swap lines put in place during the international financial crisis that can be used if necessary. The Italian bank could then get Swiss francs from the European Central Bank (ECB), (and the Swiss National Bank would be able to offer euros to Swiss banks if needed). ...
Banks on high alert as City sets up war rooms and fills cash machines image
Source : Guardian [Read Article] Wednesday 22nd of June 2016 02:50:04 PM
....Some hedge funds are said to have commissioned their own private polls to enable them to take bets on the market. The Swiss bank UBS has already told clients that there could be an increase in volatility and an impact on trading volumes, which could make it difficult to complete all orders immediately. ...
Make UK super-rich pay one-off wealth tax, says Fabian Society image
Source : Guardian [Read Article] Sunday 12th of June 2016 03:47:49 PM
....Related: Recession rich: Britain's wealthiest double net worth since crisis. He said it “sticks in the craw” of nurses, soldiers and small business people that others reduce their taxes “through fictitious film schemes or Swiss bank accounts”. ...
Police search Santander's Madrid HQ in money-laundering inquiry image
Source : Guardian [Read Article] Friday 3rd of June 2016 01:25:48 PM
.... The Spanish tax office believes that as much as €6bn was concealed in these 659 accounts. Related: HSBC files: amnesty deal for Swiss bank's Spanish clients investigated. ...
Police search Santander's Madrid HQ in money-laundering inquiry image
Source : Guardian [Read Article] Friday 3rd of June 2016 01:25:48 PM
.... The Spanish tax office believes that as much as €6bn was concealed in these 659 accounts. Related: HSBC files: amnesty deal for Swiss bank's Spanish clients investigated. ...
BHS collapse: former Mothercare and Burton chief leads rescue bid image
Source : Guardian [Read Article] Tuesday 24th of May 2016 05:17:03 PM
.... It is understood that Tufnell aims to become BHS chairman. He is working alongside Nick de Scossa, a Swiss banker, and José Maria Soares Bento, thought to working with a wealthy family in Portugal. ...
HSBC prepares for AGM shareholder resistance over executive pay image
Source : Guardian [Read Article] Friday 22nd of April 2016 08:30:58 AM
....At last year’s AGM nearly one in four shareholders voted against its pay deals, and the deputy chairman, Sir Simon Robertson, said that neither Flint nor Gulliver would be replaced. At the time, the bank was mired in revelations about the activities of its Swiss banking arm, from which leaked account details showed it had helped customers evade tax. ...
Oil exporters' failure to cap output shakes markets image
Source : Guardian [Read Article] Monday 18th of April 2016 06:02:42 PM
....In initial trading after the deal failed on Monday, Brent crude prices dipped to almost $40 (£28) a barrel, down 7%, before recovering the losses by the end of the London trading day to $43. Norbert Ruecker, the head of commodity research at Swiss bank Julius Baer, said: “Although this was no official meeting of Opec, the organisation has seen a blow to its perceived powerfulness over the weekend. ...
HMRC 'not doing enough' to tackle fraud image
Source : BBC [Read Article] Thursday 14th of April 2016 11:03:30 PM
....But it told the MPs that it did not know how many had been successfully prosecuted. In addition, only one person was prosecuted after a former HSBC employee called Herve Falciani handed over a list of potential tax evaders with Swiss bank accounts in 2015. ...
The super rich live in a parallel world; here's how we bring them back to reality image
....Already, trying to find a safe place to hide your money is a lot more complicated than it used to be. Forget about hopping on a plane to Zurich or Geneva and just walking into a Swiss bank. ...
Obama calls for international tax reform amid Panama Papers revelations image
.... Last year the Tax Justice Network, an activist research group, ranked the US third in its annual financial secrecy index, citing its “wide array of secrecy and tax-free facilities for non-residents”. “How ironic – no, how perverse – that the USA, which has been so sanctimonious in its condemnation of Swiss banks, has become the banking secrecy jurisdiction du jour,” Peter Cotorceanu, a lawyer at the Swiss law firm Anaford AG said in a recent legal journal, according to Bloomberg. ...
Tidjane Thiam earned £5m at Prudential in five months image
Source : Guardian [Read Article] Thursday 31st of March 2016 04:59:29 PM
....7m in 2015 – despite requesting a 40% bonus cut at the investment bank. Tidjane Thiam, who left the Pru on 31 May last year and joined the Swiss bank as chief executive in July, made nearly £50m in his six years at the British insurer. ...
Self-driving cars to hospital robots: automation will change life and work image
Source : Guardian [Read Article] Wednesday 30th of March 2016 04:00:21 AM
.... Robots are outperforming humans in numerous fields and the technology is striding ahead in the workplace. To examine how this transformation will unfold, and its likely impact on business, the Guardian invited senior figures from industry and academia for a roundtable discussion, which was supported by Swiss bank Julius Baer. ...
Credit Suisse to cut another 2,000 jobs image
Source : BBC [Read Article] Wednesday 23rd of March 2016 08:25:31 AM
. Swiss banking giant Credit Suisse has announced that 2,000 jobs will go at its global markets business. ...
HSBC embarks on boardroom overhaul image
Source : Guardian [Read Article] Friday 18th of March 2016 12:29:51 PM
....Flint and Gulliver are in the middle of a three-year strategy, which will end in 2017, aimed at repairing HSBC’s reputation after a £1. 2bn fine imposed by the US authorities for money-laundering, and the scandal exposed by the Guardian and other publications involving the tax affairs of its Swiss banking arm. ...
SFO ends foreign exchange fraud inquiry with no charges brought image
Source : Guardian [Read Article] Tuesday 15th of March 2016 04:05:17 PM
.... That benchmark has since been overhauled as a result of the criticism that erupted as further multimillion-pound fines were levied against banks. Barclays was the first bank to be fined for Libor fixing when it was hit with a £290m fine in June 2012, which triggered the resignation of the chief executive, Bob Diamond – who was not accused of wrongdoing – and wave of other penalties on a wide range of banks, including RBS and the Swiss bank UBS. ...
SFO drops forex market investigation image
Source : BBC [Read Article] Tuesday 15th of March 2016 02:57:08 PM
.... . Six banks - HSBC, RBS, Swiss bank UBS and US banks JP Morgan Chase, Citibank and Bank of America - were collectively fined £2. ...
Oxfam says UK's top 1% took quarter of all new wealth over past 15 years image
....In a report that singled out “wealthy British tax-dodgers” for withholding funds that could be used to fight poverty, the charity called for a crackdown on tax havens. It said that the total net wealth of people in the UK had increased from £6tn in 2000 to £10tn in 2015, based on figures from Swiss bank Credit Suisse. ...
FTSE 100: third week of gains leaves investors scratching their heads image
....Against that backdrop the FTSE 100 suffered its worst opening week to a year since 2000 and continued to tumble until 11 February. Since then, nerves have been calmed by three factors, according to Nick Nelson, head of European equity strategy at Swiss bank UBS. ...
Regulators accuse ANZ of rate-fixing image
Source : BBC [Read Article] Friday 4th of March 2016 03:51:26 AM
.... . Barclays Bank, JP Morgan, Swiss bank UBS, Royal Bank of Scotland and Deutsche Bank have all been fined by financial regulators for this practice, which is seen as market manipulation and corrosive to trust in the financial markets. ...
EU 'CLOSE TO THE EDGE': Europe could COLLAPSE if eurozone plunged into recession again image
....A series of political problems would be created by a fresh downturn, causing serious damage to the single currency's future, a leading investment bank has warned. Economists at Swiss bank Credit Suisse said in research note "Close to the edge" Europe's policymakers must avoid a slump if the monetary union is to survive. ...
Belgium investigates UBS for tax fraud image
Source : BBC [Read Article] Friday 26th of February 2016 11:28:44 AM
. Swiss bank giant UBS is being investigated over money laundering and serious organised tax fraud in Belgium. ...
Are billionaires more likely to be graduates? image
Source : BBC [Read Article] Wednesday 24th of February 2016 12:30:58 AM
.... . A survey of 2,300 billionaires from a Swiss banking group and a Singapore-based financial intelligence firm - the Wealth-X and UBS Billionaire Census - also found high levels of graduates. ...
Swiss 1,000-franc note here to stay, says national bank image
Source : Guardian [Read Article] Tuesday 16th of February 2016 01:37:09 PM
....According to SNB figures, SFr38. 3bn of them were in circulation in 2014, just under 10% of Swiss banknotes but 61% of the total value of cash in paper form. ...
Focus shifts to HSBC boardroom personnel after HQ decision image
Source : Guardian [Read Article] Monday 15th of February 2016 05:15:08 PM
....3bn as well as restore the reputation of the bank battered by a £1. 2bn fine for money laundering and a scandal surrounding the tax affairs of its Swiss banking arm. ...
UK banks expected to pay out £5bn in bonuses image
Source : Guardian [Read Article] Friday 12th of February 2016 06:32:01 PM
....HSBC is the first bank to report its results on 22 February, when the bank is also expected to publish its annual report, which will shed light on how much HSBC’s boardroom executives received during 2015. A year ago, the bank’s results were overshadowed by the Guardian’s revelations about the tax evasion practices deployed by its Swiss banking arm. ...
John Cryan: the Yorkshireman at the heart of Deutsche image
Source : Guardian [Read Article] Wednesday 10th of February 2016 08:58:20 PM
.... Warburg was later taken over by UBS. When the banking crisis was threatening the future of UBS, Cryan was appointed finance director and helped negotiate the government rescue of the Swiss bank. ...
Deutsche Bank shares recover losses image
Source : BBC [Read Article] Wednesday 10th of February 2016 10:21:03 AM
....8bn last year. Meanwhile, Credit Suisse chief executive Tidjane Thiam has told the Financial Times that he believes the Swiss bank's capital position is healthy and that they have "no liquidity issues. ...
If there is a fresh banking crisis, taxpayers deserve to be protected image
Source : Guardian [Read Article] Tuesday 9th of February 2016 07:54:09 PM
.... Nobody has explained why the former Prudential boss will get a bonus in the first place. The Swiss bank has just plunged to a huge annual loss and its share price has halved in six months. ...
Deutsche boss tells staff the bank is 'rock solid' as shares slide image
Source : Guardian [Read Article] Tuesday 9th of February 2016 01:17:33 PM
....”. The chief executive, who is British and has spent much of his career at the Swiss bank UBS, said the bank did not share the market’s concern about whether it had set aside funds to cover fines and other legal matters. ...
Credit Suisse chief asks for 'significant reduction' to annual bonus image
Source : Guardian [Read Article] Monday 8th of February 2016 05:44:20 PM
....Top bankers are being urged to show restraint over bonuses after the head of Credit Suisse tried to quash a row over his pay by asking for his payout to be cut by up to 50%. Tidjane Thiam asked the board of the Swiss bank to cut his pay after a year in which it posted its first loss since 2008. ...
'Cut my bonus' says Credit Suisse boss after bank suffers big losses image
Source : Telegraph [Read Article] Monday 8th of February 2016 12:24:21 PM
. The new boss of Credit Suisse has proposed that its board make a "significant" cut in his bonus after the Swiss bank posted disappointing results last week and announced 4,000 job cuts. ...
French ex-minister in tax fraud trial image
Source : BBC [Read Article] Monday 8th of February 2016 10:05:38 AM
.... . Jerome Cahuzac resigned in 2013 after it emerged he had once held an undeclared Swiss bank account and had lied about it to parliament. ...
What Goldman’s subtle shift says about the problems bedevilling investment banks  image
.... . The Swiss bank unveiled its first annual loss since 2008 and a common equity tier one ratio – used to assess balance sheet strength – that was nearly a full percentage point lower than analysts had expected. ...
El-Erian: Be obsessed with growth image
Source : BBC [Read Article] Thursday 4th of February 2016 07:12:59 AM
.... . In September, Swiss bank UBS said in a note: "Companies in many parts of the world have prioritised dividends and buybacks over capital spending or research and development. ...
New financial MELTDOWN set to sink EU as German banks lose £14,292,610,000.00 in 90 DAYS image
....Standard Charted closed down nearly six per cent, Barclays five per cent and Lloyds, HSBC and RBS all nearly four per cent. Swiss bank UBS also slumped, falling nearly seven per cent, after reporting a surprise outflow of funds from its flagship wealth management business. ...
Five cleared over Libor rate rigging image
Source : BBC [Read Article] Wednesday 27th of January 2016 03:35:36 PM
....The judge has asked the court to consider a majority verdict on the sixth defendant. The six were accused of helping jailed banker Tom Hayes, who worked for Swiss bank UBS, to manipulate the Libor rate that banks use to lend money to one another. ...
Europe's big banks remain wary of doing business with Iran image
Source : Guardian [Read Article] Sunday 24th of January 2016 06:54:51 PM
.... “I know six other ordinary Iranians in the UK who’ve had their bank accounts closed abruptly,” he told the Guardian. A businessman from Switzerland who visited two major Swiss banks this week said he was told they were waiting for other banks to try first and see the reaction of the Americans. ...

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