Credit Suisse said Friday it was deceived by three former employees accused by US prosecutors of orchestrating $2 billion in dodgy loans to Mozambique, and pledged to cooperate with a US investigation.
The United States has the world's most competitive and innovative economy, a World Economic Forum ranking showed Wednesday, after a methodology shift helped unseat Switzerland after nearly a decade on top.
As part of a new international initiative, Switzerland's tax authority is sharing information on its notoriously secret banking system with foreign partner agencies.
Berlin on Tuesday asked the Swiss ambassador to clarify the case of an alleged Swiss spy suspected of monitoring German finance investigators who pursue cross-border tax cheats.
Swiss mining giant Glencore, hit by a collapse in commodities prices, announced on Monday a series of extraordinary measures to eliminate roughly a third of its $30 billion dollar (27 billion euros) net debt.
The Swiss justice authorities say they are investigating Brazilian firm BTP Odebrecht in connection with the massive corruption probe targeting Brazil's state oil company Petrobras.
Swiss banking giant Credit Suisse is set to sign a document admitting it had unwittingly run a "criminal enterprise" in its past wooing of US tax dodgers, media reported on Sunday.
British regulators on Thursday fined an ex-Credit Suisse trader for attempting to rig the price of government bonds in order to profit from the Bank of England's quantitative easing programme.
Switzerland's second largest bank, Credit Suisse, used elaborate measures to find wealthy clients and help an estimated 19,000 US customers evade American tax authorities, a scathing report from a Senate inquiry said on Tuesday.
<p>Swiss private bank Julius Bär posted a 26.8-percent fall in full year profits on Monday despite healthy cash inflows from emerging markets.</p>
<p>Switzerland's central bank said on Friday that it expects to post a significant profit for 2011 after taking advantage of rising gold prices and positive foreign currency trades.</p>
<p>The Swiss central bank said on Thursday it would continue to enforce its cap on the franc's exchange rate against the euro, pledging to buy "unlimited" foreign currency if necessary.</p>
<p>Bern and Washington could arrive within the next three or six months at a deal to regularise assets hidden by American taxpayers in Swiss banks, Julius Bär boss Boris Collardi said on Saturday.</p>
<p>The Swiss central bank said on Monday that high gold prices helped to lift its nine-month profits to 5.8 billion francs ($6.7 billion) despite massive losses on some of its foreign currency positions.</p>
<p>Demonstrators are expected to gather on Saturday in the Swiss cities of Zurich, Geneva and Basel for protests modelled after the anti-Wall Street marches against US authorities and the banking industry.</p>
<p><span lang="ES">Why did Switzerland’s currency surge into overdrive, and has enough been done to rein in the runaway franc? Contributor <strong>Meritxell Mir</strong> caught up with economist <strong>David Meier</strong> to get the lowdown on the risk of a Swiss slowdown.</span></p>
<p>Hungary's Prime Minister Viktor Orban proposed on Monday a plan to fix foreign exchange rates to help Hungarians with foreign-denominated loans hit by a soaring Swiss franc.</p>
<p>Switzerland has been "disproportionately" affected by volatility on the foreign-exchange market due to the eurozone's financial crisis, a US official said Wednesday.</p>
