Switzerland http://www.globalpost.com/taxonomy/term/23858/all en 'Davos man' fears more storms, both real and economic http://www.globalpost.com/dispatch/news/thomson-reuters/130108/davos-man-fears-more-storms-both-real-and-economic <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p><body></body></p> <p>* World Economic Forum risk report sets scene for Davos</p> <p>* Income disparity and government debts top risk list</p> <p>* Climate ranks third, extreme weather a growing concern</p> <p>By Ben Hirschler</p> <p>LONDON, Jan 8 (Reuters) - Fragile economies and extreme<br /> weather have combined to crank up the global risk dial in the<br /> past year, creating an increasingly dangerous mix, according to<br /> the World Economic Forum.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130108/davos-man-fears-more-storms-both-real-and-economic" target="_blank">read more</a></p> Davos Economics Economy of Switzerland Environmental Issue Globalization Graub√ľnden Man Made Disaster Natural Disaster Person Career Quotation Switzerland World Economic Forum Thomson Reuters Tue, 08 Jan 2013 13:52:35 +0000 Thomson Reuters 5731486 at http://www.globalpost.com UPDATE 1-Swiss trains collide, 17 injured http://www.globalpost.com/dispatch/news/thomson-reuters/130110/update-1-swiss-trains-collide-17-injured <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(Adds details, background)</p> <p>NEUHAUSEN, Switzerland, Jan 10 (Reuters) - Two Swiss trains collided on Thursday, injuring 17 people, none of them seriously, and closing the line near the German border, police said.</p> <p>The two local trains, one travelling from Winterthur and the other from Schaffhausen, crashed just outside the Neuhausen station in northern Switzerland, not far from the German border.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130110/update-1-swiss-trains-collide-17-injured" target="_blank">read more</a></p> Rail transport in Europe Switzerland Transport in Europe Thomson Reuters Thu, 10 Jan 2013 11:15:16 +0000 Thomson Reuters 5732553 at http://www.globalpost.com PREVIEW-Leaders meet in Davos in bid to beat the odds http://www.globalpost.com/dispatch/news/thomson-reuters/130121/preview-leaders-meet-davos-bid-beat-the-odds <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* World Economic Forum annual meeting Jan. 23-27</p> <p>* Little trust in elite to solve social problems - survey</p> <p>* Key speeches from Italy's Monti, Germany's Merkel</p> <p>By Emma Thomasson</p> <p>ZURICH, Jan 21 (Reuters) - Italian premier Mario Monti will set the tone for beleaguered business and political leaders gathering in Davos this week for the annual World Economic Forum (WEF), with a speech entitled "Leading against the odds".</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130121/preview-leaders-meet-davos-bid-beat-the-odds" target="_blank">read more</a></p> Davos Economics Switzerland Thomson Reuters Mon, 21 Jan 2013 14:00:53 +0000 Thomson Reuters 5737246 at http://www.globalpost.com Brothers sentenced in Switzerland over Moroccan drug ring http://www.globalpost.com/dispatch/news/thomson-reuters/130129/brothers-sentenced-switzerland-over-moroccan-drug-ring <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Part of network smuggling cannabis to France, Spain</p> <p>* Brothers admitted getting cash in plastic bags</p> <p>* One ex HSBC employee, other worked for Geneva firm</p> <p>By Emma Farge</p> <p>GENEVA, Jan 29 (Reuters) - Two brothers who worked for financial firms were sentenced to prison on Tuesday for laundering money through Swiss bank accounts for a Moroccan drug smuggling ring, Geneva authorities said.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130129/brothers-sentenced-switzerland-over-moroccan-drug-ring" target="_blank">read more</a></p> Business Europe Labor Law Privacy Switzerland Thomson Reuters Tue, 29 Jan 2013 20:15:43 +0000 Thomson Reuters 5741207 at http://www.globalpost.com Swiss bank Julius Baer sees profits jump 15% in 2012 http://www.globalpost.com/dispatch/news/afp/130204/swiss-bank-julius-baer-sees-profits-jump-15-2012 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Swiss private bank Julius Baer on Monday posted a 15-percent hike in its 2012 net profit, beating analyst expectations amid healthy cash inflows as global financial markets began bouncing back.</p> <p>Net profit at the bank, which specialises in wealth management, jumped to 298 million Swiss francs ($328 million, 240 million euros) last year, while its assets under management swelled 11 percent to 189 billion Swiss francs, it said in a statement.</p> <p>"We remained well in favour with clients in all our markets in 2012," company chief executive Boris Collardi said in the statement.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/swiss-bank-julius-baer-sees-profits-jump-15-2012" target="_blank">read more</a></p> Economy of Switzerland Investment Julius Baer Switzerland AFP Mon, 04 Feb 2013 09:30:41 +0000 Agence France-Presse 5745130 at http://www.globalpost.com CORRECTED: Swiss bank Julius Baer sees profits jump 15% in 2012 http://www.globalpost.com/dispatch/news/afp/130204/corrected-swiss-bank-julius-baer-sees-profits-jump-15-2012 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Swiss private bank Julius Baer on Monday posted a 15-percent hike in its 2012 net profit, beating analyst expectations amid healthy cash inflows as global financial markets began bouncing back.</p> <p>Net profit at the bank, which specialises in wealth management, jumped to 298 million Swiss francs ($328 million, 240 million euros) last year, while its assets under management swelled 11 percent to 189 billion Swiss francs, it said in a statement.</p> <p>"We remained well in favour with clients in all our markets in 2012," company chief executive Boris Collardi said in the statement.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/corrected-swiss-bank-julius-baer-sees-profits-jump-15-2012" target="_blank">read more</a></p> Economy of Switzerland Investment Julius Baer Switzerland AFP Mon, 04 Feb 2013 13:00:52 +0000 Agence France-Presse 5745308 at http://www.globalpost.com Swiss bank Julius Baer sees profits jump 15% in 2012 http://www.globalpost.com/dispatch/news/afp/130204/swiss-bank-julius-baer-sees-profits-jump-15-2012-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Swiss private bank Julius Baer on Monday posted a 15-percent hike in its 2012 net profit, largely meeting market expectations, but nonetheless saw its share price shrink amid disappointment over its margins.</p> <p>Net profit at the bank, which specialises in wealth management, jumped to 298 million Swiss francs ($328 million, 240 million euros) last year, while its assets under management swelled 11 percent to 189 billion Swiss francs, it said in a statement.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/swiss-bank-julius-baer-sees-profits-jump-15-2012-0" target="_blank">read more</a></p> bank Economy of Switzerland Europe Switzerland AFP Mon, 04 Feb 2013 17:45:41 +0000 Agence France-Presse 5745621 at http://www.globalpost.com UBS suffers $2.7 bn 2012 net loss on Libor-fixing fines http://www.globalpost.com/dispatch/news/afp/130205/ubs-suffers-27-bn-2012-net-loss-libor-fixing-fines-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Swiss banking giant UBS announced on Tuesday a net loss of 2.5 billion Swiss francs (2 billionn euros, $2.7 billion) as fines from the Libor rate-fixing scandal weighed on results.</p> <p>In the final quarter of last year UBS suffered a net loss of 1.8 billion francs when it booked provisions for the combined fines of 1.4 billion francs from regulators as well as restructuring costs.</p> <p>The full-year net loss was higher than expectations, with analysts surveyed by the Swiss financial news agency AWP foreseeing on average UBS to turn in a loss of 2.2 million francs.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130205/ubs-suffers-27-bn-2012-net-loss-libor-fixing-fines-0" target="_blank">read more</a></p> Economy of Switzerland Investment Switzerland UBS AFP Tue, 05 Feb 2013 08:00:27 +0000 Agence France-Presse 5746107 at http://www.globalpost.com UBS suffers $2.7 bn 2012 net loss on Libor-fixing fines http://www.globalpost.com/dispatch/news/afp/130205/ubs-suffers-27-bn-2012-net-loss-libor-fixing-fines-1 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Swiss banking giant UBS announced on Tuesday a net loss of 2.5 billion Swiss francs (2 billion euros, $2.7 billion) as fines from the Libor rate-fixing scandal weighed on results.</p> <p>In the final quarter of last year UBS suffered a net loss of 1.8 billion francs when it booked provisions for the combined fines of 1.4 billion francs from regulators as well as restructuring costs.</p> <p>The full-year net loss was higher than expectations, with analysts surveyed by the Swiss financial news agency AWP foreseeing on average UBS to turn in a loss of 2.2 million francs.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130205/ubs-suffers-27-bn-2012-net-loss-libor-fixing-fines-1" target="_blank">read more</a></p> Business Economy of Switzerland Investment Switzerland UBS AFP Tue, 05 Feb 2013 09:30:31 +0000 Agence France-Presse 5746143 at http://www.globalpost.com Credit Suisse net profit drops 24% in 2012 to $1.5 bn http://www.globalpost.com/dispatch/news/afp/130207/credit-suisse-net-profit-drops-24-2012-15-bn <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Swiss banking giant Credit Suisse said Thursday its net profit fell 24 percent last year to 1.4 billion Swiss francs (1.2 billion euros, $1.5 billion) despite its investment bank unit rebounding into profit.</p> <p>The result was below the 1.7 billion francs pencilled in by analysts surveyed by the Swiss financial news agency AWP.</p> <p>In the final quarter of 2012, however, the bank posted a net profit of 397 million francs, compared to a loss of 637 million francs in the same period the previous year.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130207/credit-suisse-net-profit-drops-24-2012-15-bn" target="_blank">read more</a></p> Economy of Switzerland Investment Switzerland AFP Thu, 07 Feb 2013 08:32:26 +0000 Agence France-Presse 5748541 at http://www.globalpost.com Strong franc makes for bitter year for Swiss chocolate http://www.globalpost.com/dispatch/news/afp/130208/strong-franc-makes-bitter-year-swiss-chocolate <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Swiss chocolate makers were left with a bittersweet taste in their mouths last year as a strong Swiss franc melted away the appetite for their products, the top industry body said Friday.</p> <p>Switzerland's 18 chocolate manufacturers, including such brands as Lindt, Frey and Faverger, sold 4,000 fewer tonnes last year than in 2011 as an "overvalued Swiss franc ... made Swiss chocolate products more expensive abroad and made imported chocolate cheaper," Chocosuisse said in a statement.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130208/strong-franc-makes-bitter-year-swiss-chocolate" target="_blank">read more</a></p> Economy of Switzerland Europe Switzerland AFP Fri, 08 Feb 2013 13:17:37 +0000 Agence France-Presse 5750016 at http://www.globalpost.com Fraudsters hit foreign firm branches in Switzerland-police http://www.globalpost.com/dispatch/news/thomson-reuters/130220/fraudsters-hit-foreign-firm-branches-switzerland-police <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Phone fraudsters ask companies for money transfers</p> <p>* Foreign firms in Switzerland targetted</p> <p>* Employee sent 100,000 francs to account in China</p> <p>GENEVA, Feb 20 (Reuters) - Fraudsters have been telephoning employees at local branches of international companies in Switzerland pretending to be top executives and asking for urgent money transfers, Swiss police said on Monday.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130220/fraudsters-hit-foreign-firm-branches-switzerland-police" target="_blank">read more</a></p> Business Economy of Switzerland Labor Law Swiss franc Switzerland Technology Thomson Reuters Wed, 20 Feb 2013 18:46:16 +0000 Thomson Reuters 5761358 at http://www.globalpost.com Swiss Federal Councillor Schneider-Ammann to visit Kazakhstan http://www.globalpost.com/dispatch/news/asianet/130411/swiss-federal-councillor-schneider-ammann-visit-kazakhstan <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Asianet </div> </div> </div> <!--paging_filter--><p></p><P> Federal Councillor Johann N. Schneider-Ammann will travel on an official visit to Kazakhstan and Azerbaijan between 10 and 13 April. The aim of the economic mission is to strengthen relations with these increasingly important economic partners which are members of the Swiss constituency at the Bretton Woods institutions. The programme includes meetings with representatives of the two governments. Mr Schneider-Ammann will be accompanied on his trip to Astana and Baku by around twenty private sector representatives.</p><P>The aim of the economic mission by Federal Councillor Johann N.</p> <p><a href="http://www.globalpost.com/dispatch/news/asianet/130411/swiss-federal-councillor-schneider-ammann-visit-kazakhstan" target="_blank">read more</a></p> Europe Helvetii Switzerland Technology Asianet Thu, 11 Apr 2013 09:32:58 +0000 Asianet 5810593 at http://www.globalpost.com Swiss president rejects tax information exchange with EU http://www.globalpost.com/dispatch/news/thomson-reuters/130414/swiss-president-rejects-tax-information-exchange-eu <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>ZURICH (Reuters) - Switzerland does not need to consider an automatic exchange of information with tax authorities in the European Union, its president said in a newspaper interview.</p> <p>Switzerland and Austria have come under even more pressure to abandon bank secrecy after Luxembourg accepted to reveal information on EU depositors from 2015. The EU wants to establish this practice as a standard to crack down on tax evasion.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130414/swiss-president-rejects-tax-information-exchange-eu" target="_blank">read more</a></p> Members of the Swiss Federal Council Privacy Switzerland Thomson Reuters Sun, 14 Apr 2013 11:45:34 +0000 Thomson Reuters 5815229 at http://www.globalpost.com Swiss minister seeks level playing field on tax http://www.globalpost.com/dispatch/news/thomson-reuters/130417/swiss-minister-seeks-level-playing-field-tax <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Emma Thomasson</p> <p>ZURICH (Reuters) - The Swiss finance minister said on Wednesday that she wanted all countries to be treated equally in a drive to stamp out tax evasion, addressing concerns that Swiss banks had been unfairly singled out in recent years.</p> <p>"We consider it very important that rules must apply to all and are engaging ourselves for a level playing field in multilateral forums," Eveline Widmer-Schlumpf told Reuters in written responses to emailed questions.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130417/swiss-minister-seeks-level-playing-field-tax" target="_blank">read more</a></p> Europe Privacy Social Issues Switzerland Technology Thomson Reuters Wed, 17 Apr 2013 15:30:12 +0000 Thomson Reuters 5818424 at http://www.globalpost.com