News | Latest Breaking News Stories & Headlines

Switzerland's biggest bank posted its highest quarterly profit in nearly five years

UBS quarterly results beat expectations

UBS said it is in advanced talks with the US Department of Justice to settle allegations of foreign exchange market rigging.

Business • 05 May 15

Files claimed HSBC's Swiss private banking arm helped clients in more than 200 countries evade taxes

Investigators search HSBC's Geneva offices

Investigators have launched a search of British banking giant HSBC's Geneva offices as part of a money laundering probe, following allegations the bank helped clients evade millions of euro in taxes, Swiss prosecutors said.

News • 18 Feb 15

Switzerland has recorded a 2.4bn franc shortfall in tax revenue

Switzerland sees first budget deficit in a decade

The Swiss government said it suffered its first federal budget deficit in nearly a decade last year following a surprise 9% drop in key sources of tax revenue.

Business • 11 Feb 15

350 people associated with Ireland held accounts with HSBC in Geneva worth a total of €3.1bn

Irish with Swiss HSBC accounts paid €4.5m tax

The world of banking is reeling after it emerged financial giant HSBC was helping wealthy customers hide money from the tax authorities.

News • 09 Feb 15

Swiss private bank Julius Baer has been hit by the recent surge in the franc

Julius Baer to cut 200 jobs in cost savings drive

Swiss bank Julius Baer plans to cut around 100 million Swiss francs ($107m) of costs, including about 200 jobs, due to the recent surge in the Swiss currency.

Business • 02 Feb 15

Rescue helicopters and rescue workers on duty after an avalanche on the Piz Vilan mountain

Death toll in Swiss Alps avalanches rises to 11

Eleven people have died in off-piste skiing accidents in the Swiss Alps despite repeated avalanche warnings over the past four days, police said.

News • 01 Feb 15

Swiss franc soars against the euro after franc-euro floor is scrapped

Switzerland ends euro minimum exchange rate

In a shock announcement, Switzerland's central bank said it was ending a three-year bid to artificially hold down the value of the Swiss franc against the euro.

Business • 15 Jan 15

The Swiss National Bank is imposing a rate of -0.25% on certain bank deposits

Swiss central bank introduces -0.25% interest rate

Switzerland's central bank has announced it was introducing negative interest rates in an attempt to stop the Swiss franc from gaining further value.

Business • 18 Dec 14

A voter casts his ballot in the old town of Fribourg

Swiss reject 'green' immigration cap

Voters in Switzerland have rejected a call for dramatic immigration cuts in the name of saving the environment.

News • 30 Nov 14

Rescue workers search for a missing person after torrential rain in Serra Ricco' near Genoa

Four dead as heavy rains batter Italy

Torrential rain drenched northern Italy again today after mudslides at the weekend led to the deaths of four people, with a fifth person missing.

News • 17 Nov 14

Sergio Ermotti, UBS CEO, says he is confident for its future profits

UBS says tax credits lift profits by a third

A tax bonus helped Swiss banking giant UBS offset the costs of legal action over tax penalties, the bank said today as it announced a 32% net profit rise in the third quarter.

Business • 28 Oct 14

Switzerland cuts growth forecast for this year from 2% to 1.8%

Switzerland lowers growth forecasts for 2014

Switzerland has lowered its growth forecast for 2014 from 2% to 1.8%, the wealthy Alpine nation's statistics agency said today.

Business • 16 Oct 14

Switzerland's slick efficiency, innovation and macro economic stability kept it on top for a sixth year in a row

Swiss economy most competitive once again

The European Union is becoming more competitive but Switzerland, Singapore and the US are the three economies to beat, the World Economic Forum said today.

Business • 03 Sep 14

The Swiss National Bank currently forecasts growth of 2% for this year

Swiss growth evaporates in Q2 as trade slows

Switzerland's economy unexpectedly stalled in the second quarter, showing zero growth as trade took a hit from stagnation in its main export market Europe and falling construction spending.

Business • 02 Sep 14

Chocolate makers are grappling with soaring input costs for raw materials such as cocoa beans and butter

Lindt confirms full-year target as H1 profit rises

Swiss chocolate maker Lindt & Spruengli confirmed its full-year sales and profitability target after net profit rose 14%in the first half.

Business • 19 Aug 14

Enterprise Ireland trade mission to visit Geneva, Zurich and Basel

Enterprise Ireland on trade mission to Switzerland

Enterprise Ireland is starting a three day trade mission to develop business links between Ireland and Switzerland and to increase Irish exports to the Swiss market.

Business • 11 Jun 14

CRH has three subsidiaries operating in the Swiss market

CRH threatened with €98m fine by Swiss authorities

Building materials company CRH faces a €98m fine from Swiss competition authorities as part of a pending investigation into the country’s bathroom fixtures industry.

Business • 30 May 14

76% of Swiss voters dismissed the proposal for a minimum wage of 22 Swiss francs an hour

Swiss voters reject world's highest minimum wage

Swiss voters have rejected proposals to introduce the world's highest minimum wage.

Business • 19 May 14

A woman casts her ballot in Bulle, western Switzerland

Swiss reject minimum wage proposal

Swiss citizens have rejected the world's highest minimum wage of €18 an hour in a vote today, according to first projections.

News • 18 May 14

WEKO opens probe into Swiss, UK and US banks over potential collusion to manipulate foreign exchange rates

Swiss competition authority opens probe

Switzerland's competition commission said it had opened an investigation into several Swiss, UK and US banks over potential collusion to manipulate foreign exchange rates.

Business • 31 Mar 14

Switzerland is home to food giant Nestle and weekend vote has unsettled Swiss businesses

Europe to review ties with Switzerland after vote

European partners have threatened today to review their relations with Switzerland.

Business • 10 Feb 14

Europe to reassess relations with Switzerland

Tánaiste and Minister for Foreign Affairs Eamon Gilmore has warned there may be serious consequences after voters in Switzerland narrowly backed a proposal to curtail immigration from the EU in a referendum.

News • 10 Feb 14

Credit Suisse posted a net profit of 267 million Swiss francs for the fourth quarter

Credit Suisse misses forecast after legal charges

Credit Suisse missed expectations with just a slight improvement in fourth quarter net profit today .

Business • 06 Feb 14

UBS said its net profit for the fourth quarter stood at 917 million Swiss francs

UBS profit beats forecasts after big tax benefit

Switzerland's UBS today reported a larger than expected fourth-quarter profit, bolstered by a big tax benefit and a slimmed down investment bank.

Business • 04 Feb 14

Fire over the weekend at a Swatch plant that treats metals to protect them from rust

Swatch fire seen affecting other watchmakers

A fire that destroyed a workshop at a Swatch Group factory will affect other watch makers it supplies more than the Swiss firm itself.

Business • 30 Dec 13

Switzerland