With Credit Suisse Group AG poised to become the first bank in more than a decade to admit to a crime in the U.S., regulators have been reaching out to some of the firm’s biggest business partners to avert a panic, according to a person briefed on those communications.
The Swiss People’s Party plans to file a motion in parliament calling for the Swiss central bank to be subjected to “disciplinary supervision” by the government or legislature, SonntagsZeitung reported, citing Deputy Chairman Christoph Blocher in an interview.
Zurich’s auction houses are attracting a growing number of international buyers for Swiss art, reflected in higher prices for artists including Ferdinand Hodler, Albert Anker and the Giacometti family.
For almost eight decades, many Swiss bankers had an easy job taking in often untaxed money from wealthy customers from around the world. Now, the country’s first female finance minister is changing the way Switzerland’s 300 banks are doing business.
Switzerland’s 165-year-old draft is set to withstand a third abolition attempt in two decades as voters in a Sunday referendum are seen backing a military tradition that has shaped generations of business executives.
Switzerland, the nation that hasn’t gone to war with a foreign power since Napoleon, is reluctantly debating a generational taboo: ceding monetary independence to win a battle over its runaway currency.