Switzerland

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Glencore To Buyback $1.25 Billion Of Bonds To Cut Debt

Glencore, the miner and commodity trader, has announced plans to repurchase up to $1.25bn of bonds as part of an ongoing plan to reduce debt and leverage, the Financial Times reported. The buy back is targeting bonds that mature in 2018 and 2019 with ...

Daily Headline - global.abi.org - 10/03/2016 - 18:05 - 0 comments

Geneva Set To Cut Corporate Tax Rate By More Than 10%

When the European Union pressured Switzerland to scrap tax breaks for foreign companies, Geneva had most to lose. Now, the canton that is home to almost 1,000 multinationals is set to use tax to burnish its appeal, the Irish Times reported. Geneva wi ...

Daily Headline - global.abi.org - 08/25/2016 - 22:56 - 0 comments

Guaranteed Income for All? Switzerland’s Voters Say No Thanks

Swiss voters on Sunday overwhelmingly rejected a proposal to guarantee an income to Switzerland’s residents, whether or not they are employed, an idea that has also been raised in other countries amid an intensifying debate over wealth disparities and dw ...

Daily Headline - global.abi.org - 06/05/2016 - 21:27 - 0 comments

Swiss Open Criminal Proceedings Against BSI Over Malaysia Fund Allegations

The authorities in Switzerland said on Tuesday that they had begun criminal proceedings against one of the country’s oldest banks, BSI, after allegations that it had laundered huge sums for “politically exposed” individuals linked to a scandal-plagued Ma ...

Daily Headline - global.abi.org - 05/24/2016 - 23:40 - 0 comments

Glencore Agrees to Sell Minority Stake in Agriculture Business

The Swiss commodities and mining company Glencore said on Wednesday that it had agreed to sell a 40 percent stake in its agriculture business to Canada Pension Plan Investment Board for $2.5 billion in cash. The deal is the latest move by Glencore to red ...

Daily Headline - global.abi.org - 04/06/2016 - 20:19 - 0 comments

UBS Faces Money Laundering and Fraud Inquiry in Belgium

A Belgian magistrate judge is investigating whether the Swiss bank UBS engaged in fraud, money laundering and other crimes in an effort to help wealthy individuals avoid taxes, the Brussels prosecutor’s office said on Friday, the International New York ...

Daily Headline - global.abi.org - 02/28/2016 - 22:35 - 0 comments

Fears Recede At Glencore As Banks Line Up To Join Debt Restructuring

Concerns about the financial health of the commodities company Glencore have receded after its banks queued up to take part in a multi-billion-dollar debt restructuring, The Guardian reported. Glencore said its 37 main lenders offered up to $8.4bn (£ ...

Daily Headline - global.abi.org - 02/17/2016 - 21:09 - 0 comments

Conyers Dill & Pearman - Alert - Bermuda: Solvency II

A new year signals a new beginning and the start of the year is traditionally a time when we approach the future with greater focus and new resolve. To help manage your time as you navigate the opportunities and challenges of the year ahead, we’ve grou ...

Resource Article - twallace@abiwor... - 02/12/2016 - 12:00 - 0 comments - 0 attachments

Banque Heritage To Take On Client Assets From Bank Hottinger

Switzerland's Banque Heritage said on Wednesday it would take on client assets from wealth manager Bank Hottinger, which regulators put into bankruptcy last month, Reuters reported. The agreement is expected to be among a host of deals and closures ...

Daily Headline - global.abi.org - 11/18/2015 - 22:51 - 0 comments

Glencore Puts Copper Mines Up For Sale In Bid To Slash $30 Billion Debt Pile

The ailing mining and trading giant Glencore has intensified efforts to slash its $30bn (£20bn) debt pile by putting copper mines in Australia and Chile up for sale, The Independent reported. Glencore said it was ready to spin off the Cobar mine in N ...

Daily Headline - global.abi.org - 10/12/2015 - 19:28 - 0 comments

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