GENEVA — Switzerland’s federal criminal court on Wednesday convicted two top managers of a Saudi oil company on charges including fraud and money laundering in a vast scam that swiped at least $1.8 billion from a Malaysian state-owned investment fund. PetroSaudi executive Tarek Obaid, a Saudi-Swiss dual national, received a seven-year sentence and British-Swiss associate...
Tag: business
Post
Post
Style Edit: La Prairie’s revolutionary Life Matrix Haute Rejuvenation Cream
It’s really a shift from the more traditional way of doing anti-ageing to something that is more future-oriented. Every client has a different lifestyle, skin conditions, genetic predispositions. I don’t want this old classification just addressing two parameters, oiliness and hydration. It’s really more about the holistic conditions of the skin in terms of health...
Post
Swiss corporate air travel picks up above European average
Listen to the article Listening the article Toggle language selector English (US) English (British) Generated with artificial intelligence. Swiss business people are travelling by air more often again. In the first half of the year, the number of tickets purchased by Swiss companies rose by 10%, according to a survey published on Wednesday by corporate...
Post
Switzerland moves towards cashless future with instant payments
State AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington D.C.West VirginiaWisconsinWyomingPuerto RicoUS Virgin IslandsArmed Forces AmericasArmed Forces PacificArmed Forces EuropeNorthern Mariana IslandsMarshall IslandsAmerican SamoaFederated States of MicronesiaGuamPalauAlberta, CanadaBritish Columbia, CanadaManitoba, CanadaNew Brunswick, CanadaNewfoundland, CanadaNova Scotia, CanadaNorthwest Territories, CanadaNunavut, CanadaOntario, CanadaPrince Edward Island, CanadaQuebec, CanadaSaskatchewan, CanadaYukon Territory, Canada Zip Code Country United States of...
Post
Bayer pharmaceutical group cuts 150 jobs in Basel
Listen to the article Listening the article Toggle language selector English (US) English (British) Generated with artificial intelligence. German pharmaceuticals and agrochemicals group Bayer is to cut around 150 of its 1,000 full-time jobs in Basel. This content was published on August 21, 2024 – 10:28 + Get the most important news from Switzerland in...
Post
Swiss company coming to Spartanburg with $8.4 million investment, scores of new jobs
SPARTANBURG — A Swiss company is coming to Spartanburg County, bringing dozens of jobs and millions of dollars. Sky Composites, a Switzerland-based company, is moving its U.S. headquarters to Spartanburg County. It had locations across the nation and now will have one facility in the Upstate. The company specializes in composite materials related to manufacturing, processing...
Post
Switzerland Is Getting Squeezed Between China and the US
(Bloomberg) — Back in 2013, several dozen Swiss business representatives traveled to Beijing to attend the signing of a free-trade agreement between Switzerland and China, toasting the success with champagne. Implemented the following year, the FTA was hailed in a PricewaterhouseCoopers LLP report at the time as a landmark accord that “recasts the international trade...
Post
Thousands more UBS jobs could be cut, newspaper reports
UBS has completed the acquisition of the failed Credit Suisse bank Keystone / Michael Buholzer Listen to the article Listening the article Toggle language selector English (US) English (British) Generated with artificial intelligence. Swiss banking giant UBS could shed a further 18,000 jobs by the end of 2026 to meet its post-Credit Suisse takeover cost...
Post
Hermès heir’s $13B fortune has seemingly vanished after he vowed to award huge chunk to his gardener
The multibillion-dollar fortune belonging to the reclusive Hermès heir has seemingly vanished months after he promised to donate a large chunk of his colossal inheritance to his gardener. Nicolas Puech, 81, the largest individual shareholder of the French fashion house, was told by a Swiss court on July 12 that his wealth manager, Eric Freymond, cannot be...
Post
Hong Kong Tycoon Adrian Cheng to List His Venture Fund in Switzerland
(Bloomberg) — Hong Kong property tycoon Adrian Cheng is listing his venture fund C Capital on the Swiss Stock Exchange through a merger. The company will merge with Swiss-listed investment firm Youngtimers AG and the entity will be renamed C Capital AG upon approval and completion of the transaction, according to a statement Monday. After...
Post
Teck closes sale of B.C. coal mining operations to Swiss giant Glencore after federal approval | CBC News
Teck Resources Ltd. says it has completed the sale of its remaining 77 per cent interest in its steel-making coal business to Glencore PLC. The news comes as no surprise following the announcement last week by the federal government that it had approved the sale of the operation to the Swiss commodities giant. Vancouver-based Teck received $7.3 billion US...
Post
High immigration from Europe reflects strong Swiss employment growth
The State Secretariat for Economic Affairs (SECO), the Swiss Trade Union Federation and the Swiss Employers’ Association on Monday presented the 20th report on the free movement of persons accord between Switzerland and the EU, which came into force in 2002. Keystone / Adrian Reusser Around 68,000 people moved to Switzerland from other European countries...