The Local Switzerland

What's the best way to make money on your investments in Switzerland?

Fri, 03 Jan 2020 13:00:07 +0100

You must have noticed by now that your bank savings accrue very little interest these days — well below 1 percent. And rates are not likely to go up in the foreseeable future.

Why the outlook for the Swiss economy in 2020 is positive

Thu, 02 Jan 2020 15:20:22 +0100

The outlook for the Swiss economy heading into 2020 is mainly positive although there was some bad news.

4.5 million francs stolen from armoured car in Bern

Sun, 08 Dec 2019 17:54:59 +0100

A Swiss court on Friday revealed for the first time that an armoured truck had been robbed in Thunstetten, in the canton of Bern.

Swiss man admits spying on German tax officials out of 'patriotism' and profit

Thu, 26 Oct 2017 14:06:47 +0200

A Swiss man accused of spying on German tax officials admitted to the espionage operation on Thursday, and told a court he acted out of "patriotism" as well as for profit.

Swiss banks list long-dormant accounts

Wed, 16 Dec 2015 18:30:13 +0100

For anyone who may have forgotten about their fortune sitting idle in a Swiss bank account, a list published Wednesday is a must read.

Switzerland ready to freeze Yanukovych funds

Thu, 27 Feb 2014 18:50:00 +0100

Switzerland said on Thursday it was prepared to freeze any funds Ukraine's ousted president Viktor Yanukovych might have in Swiss banks.

40 Swiss banks agree to reveal hidden accounts

Mon, 23 Dec 2013 10:01:00 +0100

Swiss banks are scrambling ahead of a December 31st deadline to decide whether to join a US programme aimed at zooming in on lenders that helped Americans dodge taxes.

Swiss banks want more foreign tax deals

Thu, 18 Oct 2012 11:20:00 +0200

Switzerland should try to reach more deals like those it has signed with Austria, Britain and Germany to stem tax evasion, Geneva's 80-member banking association said on Wednesday.

Swiss best at tracing illegal assets: banks

Thu, 18 Oct 2012 11:14:44 +0200

Other countries should follow Switzerland's lead when it comes to tracing illegal assets hidden in their national banks, Geneva's 80-strong banking association said Wednesday.

Spanish savers move money to Switzerland

Wed, 17 Oct 2012 17:06:00 +0200

Crisis-hit savers in Spain are transferring their their money to Switzerland for safety, the head of Geneva's 80-strong banking association said on Wednesday.

UBS manager charged over tax evasion: source

Fri, 29 Jun 2012 18:48:00 +0200

French authorities have charged a manager with the local affiliate of Swiss bank UBS in connection with a probe into alleged tax evasion, a judicial source told AFP on Friday.

US presses for tax deal with Switzerland

Thu, 21 Jun 2012 17:45:00 +0200

The United States announced steps Wednesday toward an elusive tax deal with Switzerland, as well as another with economic partner Japan.

Swiss must stop helping tax cheats: top banker

Thu, 03 May 2012 15:53:00 +0200

Switzerland must shed its role as a bank haven for tax cheats and end disputes with foreign tax authorities, the chairman of the country's biggest bank UBS said on Thursday.

Zurich police evict Occupy protesters

Tue, 15 Nov 2011 12:58:00 +0100

Police made a number of arrests on Tuesday morning as anti-capitalist protesters were evicted from a park in central Zurich.

ATM theft on the rise in Switzerland

Thu, 03 Nov 2011 15:49:00 +0100

Fraudsters have stolen more than 9.2 million francs through doctored ATMs since January, Swiss federal authorities have said.

Singing Geneva banker: 'The global economy is about to crash'

Thu, 27 Oct 2011 16:55:00 +0200

A tuneful banker is causing a stir in Switzerland with his infectious and disarmingly jolly song about impending global financial doom.

Swiss get closer to German tax dodging deal

Mon, 08 Aug 2011 14:16:57 +0200

Swiss President Micheline Calmy-Rey said a tax evasion deal with Germany that will levy a 26 percent withholding tax on new German assets in Swiss banks, will be signed “shortly”.

Surging franc pushes SNB into the red

Fri, 29 Jul 2011 12:02:00 +0200

The Swiss National Bank has announced a consolidated loss of Sfr.10.8 billion for the first half of 2011 largely as a result of the surging value of the Swiss franc.

US sues UBS over dodgy subprime securities

Thu, 28 Jul 2011 12:07:18 +0200

A US housing regulator filed a $900 million lawsuit against Swiss bank UBS on Wednesday over risky mortgage-backed securities it sold to mortgage giants Fannie Mae and Freddie Mac.

UBS expects ex-Bundesbank chief Weber to be next chairman

Fri, 01 Jul 2011 13:13:00 +0200

Swiss banking giant UBS said on Friday it intends to appoint former German central bank chief Axel Weber as its next chairman, saying that he will be nominated to the board in 2012 and take the post in 2013.