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

Diet ready to take up tax reform legislation for fiscal 2015

Tax reform legislation for fiscal 2015 that would cut the corporate tax rate and formalize the delay in hiking the consumption tax has made it to the Diet, with the Abe administration looking for quick approval. The Cabinet approved the proposed legislation Tuesday. It ...

Feb 16, 2015

Britain's HSBC apologizes over past standards at Swiss bank

HSBC apologized to customers and investors on Sunday for past practices at its Swiss private bank after allegations that it helped hundreds of wealthy clients dodge taxes. Europe’s largest bank said in full-page advertisements in British newspapers that recent media coverage that focused on ...

'Yes we can!' president faces twilight of maybes

Dec 28, 2014

'Yes we can!' president faces twilight of maybes

It was supposed to be a joke. “Are you still president?” comedian Stephen Colbert asked Barack Obama earlier this month. But the question seemed to speak to growing weariness with the president and skepticism that anything will change in Washington during his final two ...

Dec 27, 2014

Ruling camps to exempt renewable energy-related funds from gift tax

The ruling coalition is in final discussions on eliminating the gift tax on money given by parents and grandparents to their children or grandchildren for purchases of solar panels and other renewable energy equipment, informed sources said Saturday. With the ceiling set at ¥5 ...