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Nestlé accused in US of 'slave labour' cat food
Nestlé headquarters in Vevey in the canton of Vaud. Photo: Nestlé

Nestlé accused in US of 'slave labour' cat food

2 days ago

UPDATED: Swiss-based food giant Nestlé on Friday rejected allegations that it had knowingly allowed its Fancy Feast cat food to contain fish from a Thai supplier suspected of using slave labour.

US penalizes UBS for dealing with 'terrorist'
Photo: UBS

US penalizes UBS for dealing with 'terrorist'

3 days ago

UBS, Switzerland's largest bank, has agreed to pay American authorities $1.7 million to settle "apparent" violations of rules banning transactions benefiting officially designated terrorists, the US Treasury Department said on Thursday.

Monsanto drops bid to buy Swiss rival Syngenta
Photo: AFP

Monsanto drops bid to buy Swiss rival Syngenta

August 26, 2015

US seed giant Monsanto dropped its campaign to acquire Syngenta on Wednesday, ending hopes to add a Swiss pesticides giant it had seen as key to expanding its global reach.

Swiss watchmakers jittery over China chaos
Share prices of Swiss watchmakers like Richemont shed serious value after the recent Chinese currency cut. File photo: AFP

Swiss watchmakers jittery over China chaos

August 26, 2015

Swiss watchmakers are facing turbulent times in one of their top markets, as the already shrinking luxury sales in China are compounded by the recent devaluation of the yuan.

Minister: Swiss banks must 'do better'
Swiss banks have for years been trying to clean up their image. Photo: Martin Abegglan

Minister: Swiss banks must 'do better'

August 25, 2015

Thousands of so-called "politically exposed persons", or PEPs -- a category that includes heads of state and other top officials -- hold Swiss bank accounts, a Swiss foreign ministry official said on Monday.

Singapore frees assets of sued Swiss art dealer
Photo: Caroline Bishop

Singapore frees assets of sued Swiss art dealer

August 25, 2015

Singapore's highest court has unfrozen the assets worth millions of dollars of a Swiss businessman and art dealer sued by a Russian billionaire for fraud.

Swiss stock exchange falls on ‘Black Monday’
Photo: Kazuhiro Nogi/AFP

Swiss stock exchange falls on ‘Black Monday’

August 24, 2015

The SIX Swiss stock exchange plunged 3.44 percent on Monday morning following sharp falls in the Asian markets.

Glencore posts heavy losses in first six months
Photo: AFP

Glencore posts heavy losses in first six months

August 19, 2015

UPDATED: Swiss mining giant Glencore on Wednesday reported a first-half loss of $676 million, a performance hit by what the company called the worst commodities market since the financial crash of 2008-09.

Syngenta to jettison flower seeds business
Photo: AFP

Syngenta to jettison flower seeds business

August 19, 2015

Swiss agricultural products giant Syngenta said on Wednesday that it would sell its flower seeds business.

LafargeHolcim to sell two Indian cement plants
New Swiss company's logo. Image: LafargeHolcim

LafargeHolcim to sell two Indian cement plants

August 17, 2015

Swiss-based cement giant LafargeHolcim said Monday that it was selling some of its operations in India to Birla Corporation Limited for 750 million francs (€692 million, $767 million).

Franc at lowest euro level since February
Photo: AFP

Franc at lowest euro level since February

August 11, 2015

The mighty Swiss franc dipped on Monday to its lowest value against the euro since February as the European common currency rose above 1.083 francs in foreign exchange trading late in the day.

Pilatus seals training aircraft deal with Jordan
Photo: Pilatus Aircraft

Pilatus seals training aircraft deal with Jordan

August 10, 2015

The Jordanian airforce will buy nine Pilatus training aircraft for fighter jet pilots, the Swiss company said on Monday, without divulging the price tag on the deal.

Large losses dent profits for Zurich Insurance
Photo: Zurich Insurance Group

Large losses dent profits for Zurich Insurance

August 06, 2015

Swiss firm Zurich Insurance reported first half net profits of $2.1 billion (€1.9 billion) on Thursday, down three percent over the same period last year, following large losses in its general insurance business.

Ex-UBS trader jailed in UK for Libor rigging
Former UBS trader Tom Hayes. Photo: Leon Neal/AFP

Ex-UBS trader jailed in UK for Libor rigging

August 03, 2015

A trader who worked for UBS and Citigroup on Monday became the first person to be convicted in Britain of rigging the Libor inter-bank lending rate.

EXPAT GUIDE | Presented by Greenback
Taxes in Switzerland: the easy way
Photo: MoneyImages/Flickr

Taxes in Switzerland: the easy way

July 28, 2015

Tax season is daunting enough at home – let alone in a foreign country. That’s why expats David and Carrie McKeegan started Greenback, the tax company designed specifically for American expats. The Local talked to the couple about how to handle taxes in Switzerland.

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