Black money: HSBC tax evasion suspects in India told to get a lawyer
Customers of HSBC in India, suspected of tax evasion, have been given a 30-day timeframe to get a lawyer in Switzerland to manage or challenge the disclosure of their names in the official gazette.
Mar 31, 2015, 19:01 PM IST
Black money: India offers cash reward to HSBC whistleblower
As per rules, up to 30 percent of the tax amount realised could be offered to whistleblowers who provide specific information on illegal funds.
Mar 23, 2015, 17:30 PM IST
Automatic info exchange talks with India at 'earliest': Swiss
The assertion from Switzerland, which has been long perceived as a safe haven for stashing illicit wealth, comes close on the heels of the Alpine nation inking an initial pact for automatic exchange of tax information with European Union.
Mar 22, 2015, 15:11 PM IST
Switzerland, Luxembourg plan to join China-led development bank
Switzerland and Luxembourg are planning to join the Beijing-backed development bank AIIB, China`s finance ministry said, the latest European nations to sign up to the multilateral lender which has drawn scepticism from the United States.
Mar 21, 2015, 11:44 AM IST
Holcim and Lafarge revise terms to get merger back on track
Switzerland`s Holcim and France`s Lafarge have agreed new terms for their plan to create the world`s biggest cement company, giving unhappy shareholders in the Swiss firm a better deal.
Mar 20, 2015, 17:19 PM IST
UK unveils new measures to combat tax evasion
Corporations linked to offshore tax evasion by investors in Britain will face criminal sanctions under government plans unveiled Thursday, a month after an international scandal over tax-dodging in Switzerland.
Mar 20, 2015, 10:47 AM IST
Switzerland halves growth forecast as strong franc bites
Switzerland on Thursday halved its growth forecast for 2015 as the strong franc bit into the country`s exports, but the central bank said it was keeping its monetary policy unchanged.
Mar 19, 2015, 15:56 PM IST
Lafarge-Holcim merger hits roadblock
The USD 40-billion mega merger between Holcim and Lafarge to create world's largest cement group has hit a roadblock with Swiss giant Holcim rejecting the deal in the present form, including on 'governance issues'.
Mar 16, 2015, 18:33 PM IST
Black money: RBI closely watching probe against HSBC
The Reserve Bank Thursday said it is keeping a close watch on global banking major HSBC, which is facing multi-nation probe including by Indian tax authorities for alleged tax evasion and money laundering at its Swiss units.
Feb 26, 2015, 17:21 PM IST
Black money: HSBC bosses say sorry for 'unacceptable' practices
HSBC bosses on Wednesday apologised for "unacceptable" failings at the banking giant's Swiss division when they were grilled by British MPs over allegations it had helped rich clients dodge taxes.
Feb 26, 2015, 09:29 AM IST
Swiss central bank under scrutiny after franc shock
Six weeks after a fateful decision that blasted its currency skywards, Switzerland`s central bank is coming under intense scrutiny, with critics calling for changes to its insular policy practices and century-old ownership structure.
Feb 25, 2015, 23:26 PM IST
Switzerland flexes parliamentary muscle as scrutiny of HSBC intensifies
The move is an unusual show of parliamentary influence over Swiss financial regulator FINMA, which said that it had taken note of the committee`s decision and would make itself available for inquiries.
Feb 19, 2015, 22:54 PM IST
Black Money: Swiss police search HSBC offices; bank faces laundering probe
Geneva`s public prosecutor searched the premises of HSBC Holdings PLC in Geneva on Wednesday and said it had opened a criminal inquiry into allegations of aggravated money laundering.
Feb 18, 2015, 15:00 PM IST
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.
Feb 17, 2015, 17:59 PM IST
Black money: I-T dept to file complaint against HSBC Geneva
The Income Tax department is soon expected to file a complaint against HSBC bank, Geneva, for allegedly "abetting" tax evasion in India by way of unauthorisedly operating accounts of its citizens in its overseas branch.
Feb 16, 2015, 19:11 PM IST
Credit Suisse board takes 25 pct pay cut after U.S. tax fine
Board members of Credit Suisse are taking a 25 percent pay cut and bonuses for top staff are being slashed after a hefty fine from U.S. authorities, the bank said as it also set out a range of measures to tackle the surge in the Swiss franc.
Feb 12, 2015, 17:18 PM IST
HSBC `SwissLeaks` leaker urges more support for whistleblowers
The man who stole the trove of secret files that sparked a global scandal over banking giant HSBC`s alleged assistance to wealthy tax dodgers called Monday for more protections for whistleblowers.
Feb 10, 2015, 04:36 AM IST
Swiss govt says HSBC list from 'stolen data'
With a new 'HSBC list' of Swiss bank accounts revealing over 1,000 Indian names, Switzerland today said these are from "stolen data" -- an assertion that might make it difficult for India to get details on these accounts without any additional evidence.
Feb 09, 2015, 17:07 PM IST
Indians rank 16th on leaked HSBC list; Swiss on top
With total funds of USD 4.1 billion, Indians rank 16th on the new leaked HSBC list of Swiss bank account holders from over 200 countries, while people from Switzerland itself are on the top.
Feb 09, 2015, 13:34 PM IST
Black money: Swiss govt says cooperating intensely with India
Under pressure to act on black money front, Switzerland has said it is intensely pursuing cooperation with India, even as the bilateral ties remain "tense" over its refusal to share bank account details on the basis of stolen data.
Feb 08, 2015, 14:20 PM IST
