Switzerland

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Lehman Deal Clears Way For Closure Of Swiss Settlement

Lehman Brothers Holdings Inc's bankruptcy estate has struck a deal to resolve a five-year-long dispute involving its Swiss affiliate, clearing the way to distribute $1.8 billion to creditors, Reuters reported. The deal would enable the estate of Leh ...

Daily Headline - global.abi.org - 02/27/2014 - 22:33 - 0 comments

Swiss Housing Market Bubble Looms Closer, UBS Says

Switzerland’s property market is at greater risk of overheating, raising the question as to whether authorities have done enough to curtail the boom, Bloomberg News reported. The UBS Swiss Real Estate Bubble Index rose to 1.23 points in the fourth quarte ...

Daily Headline - global.abi.org - 02/06/2014 - 00:01 - 0 comments

Swiss Voters Reject High-Pay Initiative

Switzerland stepped back from a movement to control corporate pay, overwhelmingly rejecting an initiative that would have restricted executive salaries to 12 times that of the lowest paid employee, The Wall Street Journal reported. Roughly 65% of Swi ...

Daily Headline - global.abi.org - 11/24/2013 - 20:56 - 0 comments

Switzerland Tightens Rules for Lender Owned by Canton of Zurich

Switzerland's biggest publicly backed lender is being saddled with more stringent rules, in the latest move by regulators in the Alpine nation to corral risk in the financial sector, The Wall Street Journal reported. On Monday, Zurich-based Zuer ...

Daily Headline - global.abi.org - 11/11/2013 - 22:10 - 0 comments

France Puts UBS Under Investigation for Aiding Tax Evasion

A unit of the Swiss bank UBS has been placed under formal investigation in France following allegations that it designed investments to help its clients evade taxes, the International Herald Tribune reported. The move comes more than a year after an ...

Daily Headline - global.abi.org - 06/02/2013 - 23:17 - 0 comments

The Swiss Offer Some Economic Advice to Europe

Switzerland is not a member of the 27-nation European Union and it has its own currency, pegged to the euro. It has escaped the worst of a crisis that has affected countries of the euro zone and charted its own course during the Continent’s economic down ...

Daily Headline - global.abi.org - 05/30/2013 - 19:57 - 0 comments

Swiss Back Executive-Pay Controls

Swiss voters on Sunday overwhelmingly backed a plan giving shareholders sweeping authority over executive pay, the latest in a series of moves aimed at curbing what is seen as excessive remuneration levels at top companies, The Wall Street Journal re ...

Daily Headline - global.abi.org - 03/03/2013 - 21:54 - 0 comments

Switzerland Orders Banks to Hold Buffer for Real Estate

The Swiss government ordered banks to hold additional capital as a buffer against risks posed by the country’s biggest property boom in two decades, Bloomberg reported. Banks will be forced to hold an extra 1 percent of risk- weighted assets linked to do ...

Daily Headline - global.abi.org - 02/15/2013 - 00:17 - 0 comments

Credit Suisse to Accept Vinashin’s Plan to Restructure Its Debt

Credit Suisse Group AG will accept a debt restructuring plan that Vietnam Shipbuilding Industry Group put to its creditors, helping to resolve negotiations surrounding a default that occurred more than two years ago, according to a person familiar with t ...

Daily Headline - global.abi.org - 02/05/2013 - 21:53 - 0 comments

Button-Down Central Bank Bets It All

Switzerland, for decades a paragon of safety in finance, is engaged in a high-risk strategy to protect its export-driven economy, literally betting the bank in a fight to contain the prices of Swiss products sold abroad, The Wall Street Journal repor ...

Daily Headline - global.abi.org - 01/09/2013 - 21:20 - 0 comments

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