A former boss of HSBC, Stephen Green, has stepped down from his position with a financial services lobby group after allegations that the bank helped people dodge taxes.
Tags: Switzerland
Nestlé’s Nespresso provides bigger cups of coffee for Americans
Switzerland is adding another factory for Nespresso, Europe's largest single-serve coffee brand. This is to manufacture capsules uniquely designed for the U.S. consumers where sales growth is bigger than its home continent according to Bloomberg.
Europe is far behind in its electronic waste recycling target
A study conducted by Interpol and the United Nations said that only 33% of Europe's electronic wastes is correctly recycled. A large number of these electronic wastes include computers, cellphones and televisions that are dumped or traded illegally.
Nestle India targets growth in other businesses after Maggi scare
Nestle India Ltd will focus on growing its dairy, coffee and confectionary businesses, its new boss said, as the company battles to bring back its popular Maggi noodles that were pulled from shelves over safety concerns.
Switzerland's UBP to buy RBS's Coutts International
Union Bancaire Privee (UBP) has agreed to buy Royal Bank of Scotland's international private banking business Coutts International, as the Swiss private bank continues to rebuild its asset base in the aftermath of the financial crisis.
Latest News
Swiss financial titans UBS and Credit Suisse are expanding their operations in provincial Poland in a cost-saving drive made more urgent by the surge in the value of the Swiss franc.
British bank HSBC Holdings Plc (HSBA.L) admitted on Sunday failings by its Swiss subsidiary, in response to media reports it helped wealthy customers dodge taxes and conceal millions of dollars of assets.
A jump in the Swiss franc against the euro, which threatens to push the country's economy into recession, is boosting trade in brothels across the border in Germany.
The surging Swiss franc has dealt a double blow to homeowners in Austria, home of the trend for borrowing in the Swiss currency that has devastated mortgage holders across eastern Europe.
"Swiss Made" has traditionally stood for quality, precision and reliability. But after a shock move to scrap the cap on the franc, it could convey a less attractive message: Made more expensive.
Brent crude oil rose more than $2 to around $50 a barrel on Friday after the West's energy watchdog forecast the market sell-off would end, although analysts said a strong rebound soon was unlikely as global output continued to outweigh demand.
The U.S. dollar hit its highest level against major currencies in over 8-1/2 years on Friday on diverging monetary policy between the Federal Reserve and other major central banks, and bullish dollar positions heading into the end of the year.
The cost of lending gold returned to positive territory on Friday for the first time in over a month, capping a dramatic week-long recovery, as robust U.S. jobless data reinforced expectations of higher interest rates next year.
Miami is readying for the 13th installment of Art Basel Miami Beach, among the world’ most important contemporary art fairs, a five-day extravaganza that has become a magnet for high-end real estate and luxury brands to align themselves with the artistic set to attract the world’s biggest spenders.
