Mar 21, 2015

Switzerland, Luxembourg both plan to join China-led development bank

Switzerland and Luxembourg are planning to join the Beijing-backed Asian Infrastructure Investment Bank, China’s Finance Ministry said, the latest European nations to sign up to the multilateral lender which has drawn skepticism from the United States. Britain, France, Germany and Italy have already announced ...

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 ...