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Archive for Wed, 18 Jul 2012

Subterranean hotel sold for rock bottom price

Subterranean hotel sold for rock bottom price

In what may be the deal of the century so far, a surprised buyer paid just 1,000 francs ($1,020) at an auction last week for a luxury underground hotel in Switzerland with an estimated value of 3.7 million francs ($3.8 million).

Elderly priest rejects sex abuse claims

An 82-year-old priest who was recently accused of carrying out sexual acts and sadistic punishments on children has said he has nothing to hide.

Credit Suisse boosted by recapitalization plans

Shares in Credit Suisse climbed higher as trading began on Wednesday after the Swiss bank announced steps to increase its capital base and cut costs.

German state buys Swiss data on tax cheats

Authorities in Germany have bought new data on German clients of a Swiss bank suspected of tax fraud, a report said on Wednesday, the second such purchase in a month amid a growing fiscal spat between the two neighbours.

Ticino clamps down on illegal prostitution

Ticino clamps down on illegal prostitution

Authorities in the Italian-speaking part of Switzerland have taken significant action against illegal prostitution, closing down most of the region's brothels in the last few months.