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American clients who each hid more than 1 million Swiss francs in undeclared bank accounts with UBS AG between 2001 and 2008 could have their details turned over to the U.S. government, Swiss officials said Tuesday.
Switzerland has opened its own investigation into the case of a nuclear physicist France suspected of al-Qaida links, an official said Sunday.
Switzerland's government said Wednesday it would forbid the Swiss bank UBS AG from complying with any court-ordered transfer of data on tens of thousands of American clients to the U.S. government, and would consider seizing documents to prevent that.
Switzerland is bracing for a monumental change in a tradition of banking secrecy that survived pressure from Nazi Germany, World War II and numerous other crises over the last 75 years.
UBS AG said Wednesday that former Swiss President Kaspar Villiger will replace Peter Kurer as chairman of the board next month in an attempt to bring the bank back to profitability and deal with a major U.S. tax evasion probe.
Swiss International Air Lines said Tuesday that it had lost permission to land in Libya, which has been cutting links since Swiss police arrested dictator Moammar Gadhafi's son this year.
The world's most comprehensive legalized heroin program became permanent Sunday with overwhelming approval from Swiss voters who simultaneously rejected the decriminalization of marijuana.
Former UBS AG Chief Executive Peter Wuffli has renounced 12 million Swiss francs ($10.2 million) in payments he was to receive under his contract when Switzerland's largest bank fired him as the subprime crisis began, the bank said Sunday.
Switzerland's top prosecutor charged 10 people with laundering more than $1 billion dollars during a decade-long mafia cigarette smuggling operation, Swiss authorities said Monday.
German-born billionaire Klaus J. Jacobs, who built the world's leading chocolate and temporary staffing firms, has died of cancer, his family company Jacobs Holding said Thursday. He was 71.
Swiss authorities have widened a corruption investigation linked to arms deals by the British aerospace company BAE Systems PLC, prosecutors said.
The incoming chairman of UBS AG, Peter Kurer, said the Swiss bank would stick to its integrated business model, despite massive write-downs caused by the subprime mortgage crisis, according to a newspaper interview published Saturday.
UBS AG, already wincing from massive write-downs caused by the subprime crisis, has taken another blow as a former CEO is pushing the Swiss bank to separate its private client operations from the stumbling investment unit.
The U.S. has demanded to see a Swiss contract for natural gas supplies from Iran to see whether it violates an American sanctions law against Tehran, the U.S. Embassy in Switzerland said Sunday.
Swiss authorities have frozen an investigation into CIA operatives suspected of illegally transporting an abducted Egyptian Muslim preacher through Swiss airspace, an official said Friday.
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