Ellen's Swiss News World
ZURICH, SWITZERLAND – Bank UBS issued a carefully worded press release Tuesday 30 October to explain how it plans to cut 10,000 jobs by 2015, but for many London employees of its investment bank, the news was delivered in a more jarring fashion. Hundreds of staff reportedly showed up for work Tuesday only to discover [...]
ZURICH, SWITZERLAND – The rumours have been swirling hard for five days, that Switzerland’s largest bank, UBS, would cut 10,000 jobs, more than 15 percent of its work force, and close its investment bank. Tuesday morning 30 October UBS clarified: it will indeed reduce its payroll to 54,000 jobs by 2015 from today’s 64,000 as [...]
GENEVA, SWITZERLAND – One of the stranger sagas in bank robberies in the area is drawing to a close, with the thief awaiting sentencing after being convicted of trying and nearly succeeded in robbing the UBS just below Cornavin train station in Geneva. The Tribune de Geneve in a feature article 16 October recounts the [...]
ZURICH, SWITZERLAND – Bradley Birkenfeld, released on good behaviour from a US prison 1 August (the Swiss national holiday) after 2.5 years of his 40-month sentence for failing to disclose his part in tax fraud (conspiracy to defraud) crimes, has been awarded $104 million for blowing the whistle on US clients of bank UBS. Birkenfeld’s [...]
GENEVA, SWITZERLAND – Nine of the world’s largest banks registered plans with US authorities mapping out what should be done if they run the danger of failing. The US Federal Deposit Insurance Corporation and the Federal Reserve released Tuesday 3 July portions of the so-called “living-wills” for the banks, which were required by the 2010 [...]
ZURICH, SWITZERLAND – Bank UBS is being accused of lack of due diligence by Swiss-based rainforest advocacy group Bruno Manser Fund (BMF). The charges are made in a filing with the Zurich public prosecutor and are linked to corruption in Malaysia in the forestry industry. A month earlier, Geneva Social Democrat Carlo Sommaruga filed a [...]
GENEVA, SWITZERLAND – Bank and gas station robberies have become more frequent in western Switzerland in recent months, and police have stepped up efforts to catch them. Canton Valais’s operation Cobra bore fruit early Wednesday 25 April after a night-long mountain forest manhunt near the resort of Crans-Montana, with a dragnet that involved 200 police [...]
GENEVA. SWITZERLAND – A Swiss-based currency trader, Kai H, lost a case Monday 26 March where he claimed investment bank JP Morgan owed him millions. He sought 10 times what the bank said it promised to pay him when it hired him in 2010. The trader filed the claim in London’s Queens Court division of [...]
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