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Julius Bär bank to pay US $547 million over tax fraud
Photo: Fabrice Coffrini/AFP

Julius Bär bank to pay US $547 million over tax fraud
2 days ago

Swiss private bank Julius Bär says it has finalized an agreement with US authorities, paying $547 million to end a criminal investigation into claims that it helped rich Americans dodge taxes.

Swisscom to cut 700 jobs after revenues slip
Photo: Swisscom

Swisscom to cut 700 jobs after revenues slip
3 days ago

Switzerland’s biggest telecom company is cutting 700 jobs after announcing a 20 percent drop in net profits for 2015 from the previous year.

Credit Suisse posts first net loss since 2008
Photo: AFP

Credit Suisse posts first net loss since 2008
3 days ago

Credit Suisse, Switzerland’s second largest bank, ran 2.42 billion francs in the red in 2015, its first loss in seven years.

Restructuring hits ABB's bottom line for 2015
ABB headquarters in Zurich. Photo: ABB

Restructuring hits ABB's bottom line for 2015
February 03, 2016

Swiss-based engineering giant ABB's profits plunged by a quarter last year due to the cost of overhauling its structure and activity portfolio.

Swatch profit tumbles on strong Swiss franc
Photo: Getty Images/AFP/File

Swatch profit tumbles on strong Swiss franc
February 03, 2016

Swatch's net profit dropped 21 percent in 2015 as a strong franc slammed the world's biggest watch group.

Board backs ChemChina bid to buy Syngenta
Photo: AFP

Board backs ChemChina bid to buy Syngenta
February 03, 2016

UPDATED: Syngenta's board has backed an offer by China National Chemical Corp to buy the Swiss pesticide giant for $43 billion.

UBS shares slide despite soaring profits for 2015
Photo: AFP

UBS shares slide despite soaring profits for 2015
February 02, 2016

The share price of UBS dropped on Tuesday after Switzerland's largest bank posted soaring profits for 2015 — aided by tax benefits.

Kuoni board backs Swedish takeover bid
Photo: Kuoni

Kuoni board backs Swedish takeover bid
February 02, 2016

The board of Swiss travel group Kuoni is asking shareholders to accept a takeover bid by Swedish investment fund EQT.

Paris court confirms tax fraud charges against HSBC
Photo: AFP

Paris court confirms tax fraud charges against HSBC
February 01, 2016

A French court is confirming charges against British banking giant HSBC Holdings PLC as part of a tax fraud probe involving its Swiss unit.

Costly US fine slashes Julius Bär profits
Photo: Michael Buholzer/AFP

Costly US fine slashes Julius Bär profits
February 01, 2016

Swiss private bank Julius Bär says its net profit plummeted in 2015 due to a provision linked to a US probe into its role in helping Americans evade taxes.

Credit Suisse hit by US penalty for 'dark pools'
Photo: AFP

Credit Suisse hit by US penalty for 'dark pools'
February 01, 2016

Credit Suisse and Barclays will pay $154.3 million combined to settle charges that they violated American federal securities laws over their so-called "dark pools" trading.

Sweden's EQT 'best suited' to take over Kuoni
Photo: Kuoni

Sweden's EQT 'best suited' to take over Kuoni
January 29, 2016

Swiss travel group Kuoni says it considers Swedish investment fund EQT the best suited to take it over, but that no final decisions about a buyout have been made.

Startups
Swiss rush to support 'sexy' startup trend
Startup Weekend is one of many events in Switzerland to help entrepreneurs. Photo: Martin Gysler

Swiss rush to support 'sexy' startup trend
January 28, 2016

With startups in the Swiss news on an almost daily basis, launching your own business has never been trendier. But exactly how easy does Switzerland make it? The Local’s Caroline Bishop finds out.

Roche profits fall due to strong Swiss franc
Photo: Roche

Roche profits fall due to strong Swiss franc
January 28, 2016

Swiss pharmaceutical giant Roche says its net profits in 2015 fell by five percent as a strong Swiss franc ate into the company's robust sales of diagnostics and cancer medications.

Currency swings hit Novartis bottom line
Photo: Sebastien Bozon/AFP

Currency swings hit Novartis bottom line
January 27, 2016

Swiss pharmaceutical giant Novartis notched higher profits in 2015 thanks to asset sales but otherwise saw profits dented by a stronger dollar.

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