Swiss raid HSBC in money laundering probe

Feb 19, 2015

Swiss raid HSBC in money laundering probe

Swiss authorities on Wednesday raided British banking giant HSBC’s Swiss unit as part of a money laundering probe into the bank, which has been accused of helping clients to dodge millions of dollars in taxes. The investigation comes just days after HSBC Switzerland became ...

Feb 18, 2015

France issues warrants for UBS managers in tax fraud case

French judges on Tuesday issued arrest warrants for three former managers at Swiss bank UBS over allegations it helped customers hide money from the taxman in Switzerland. The three managers, one of whom was in charge of wealth management in Europe, are based in ...

Expert denies authenticating 'lost' Leonardo

Feb 12, 2015

Expert denies authenticating 'lost' Leonardo

Assertions that an eminent scholar had authenticated a portrait by Leonardo da Vinci tantalized art lovers with the prospect of a new masterpiece and inflated a backroom bidding war worth tens of millions of euros. Only Carlo Pedretti, longtime director of the Leonardo center ...

Feb 5, 2015

U.S. teen survives 48 hours lost in Swiss Alps

A 19-year-old American student who disappeared over the weekend while skiing in the Swiss Alps was rescued after 48 harrowing hours lost in the snow, police said Wednesday. After searching for more than two days, rescuers finally found the teen, who went missing while ...

Jan 20, 2015

Shocking Switzerland

The Swiss National Bank's move to abandon currency market intervention has profound implications for the international financial system.

What happened to the Swiss franc?

| Jan 17, 2015

What happened to the Swiss franc?

One of the world’s safest investments — the Swiss franc — has swung wildly this week after the central bank in Switzerland announced it would scrap its policy of limiting the rise of the currency. It may seem like an arcane move, but it’s ...

Jan 16, 2015

Casualties from Swiss shock spread from New York to New Zealand

Casualties mounted from the Swiss currency shock as a U.S. online brokerage said client debts threatened to push it out of compliance with capital rules and a New Zealand-based dealer went out of business. FXCM Inc., a New York-based company that offers foreign exchange ...

Switzerland stuns markets by giving up on currency peg

Jan 16, 2015

Switzerland stuns markets by giving up on currency peg

Rarely has one statement prompted such a dramatic move in currency markets. The Swiss franc achieved a turbo-charged liftoff Thursday after the country’s central bank bowed to the inevitable and ditched an increasingly expensive policy to limit the export-sapping rise of the currency. Within ...

Austrian crooner Udo Juergens, 80, dies in Switzerland

Dec 22, 2014

Austrian crooner Udo Juergens, 80, dies in Switzerland

Austrian crooner Udo Juergens, whose more than 50-year career was studded with hits in languages ranging from German to Japanese, died on Sunday following a heart attack. He was 80. Juergens, who also held Swiss nationality, took ill while walking in the countryside in ...