Search Results for: taxes
Switzerland, Italy Working To Remedy Tax Disputes
July 31st, 2014
Swiss President Didier Burkhalter has called for a constructive, coherent, and balanced approach to the resolution of a number of outstanding tax issues with Italy. Burkhalter made the comments during a meeting with Matteo Renzi, Italy’s Prime Minister, after ...
New York Governor involved in BNP deal to get $1 billion more for NY state fund
July 31st, 2014
Only days before U.S. authorities reached a landmark $8.97 billion settlement with BNP Paribas over the bank’s dealings with countries subject to U.S. sanctions, New York Governor Andrew Cuomo intervened to ensure the state government got a much bigger ...
EU Practiced Its Russian Sanctions in Cyprus
July 30th, 2014
Europe’s new financial sanctions against Russia will be among the first meaningful ones the West has introduced since the Ukraine crisis started. But punishing rich Russians is not exactly new territory for the EU — it has been doing ...
Deutsche Bank Posts 29 Percent Net Profit Drop
July 29th, 2014
Deutsche Bank AG posted a 29 percent drop in second-quarter net profit Tuesday, hit by what it described as higher taxes, declining revenue and political instability affecting the markets. Germany’s largest bank said its net profit in the April-June ...
Lew Can Use Tax Rule to Slow Inversions according to Ex-Official
July 28th, 2014
The U.S. Treasury Department should use immediate stopgap regulations to make offshore transactions known as corporate inversions less lucrative, said the department’s former top international tax lawyer. The administration can unilaterally limit inverted companies from taking interest deductions in ...
Money laundering investigation for UBS AG by French magistartes
July 25th, 2014
UBS is under formal investigation by French magistrates for money laundering regarding whether the bank helped wealthy French customers evade taxes. The bank has been ordered to pay bail of €1.1 billion by Sept 30. In case the bank ...
Julius Baer expects to settle U.S. tax case in months
July 21st, 2014
Julius Baer (BAER.VX) expects to strike a deal with U.S. authorities in a matter of months to settle a criminal investigation into the Swiss bank’s role in helping wealthy Americans evade their taxes, its chief executive said on Monday. ...
Credit Suisse to report biggest loss since 2008 linked on Tax Fine
July 21st, 2014
Credit Suisse Group AG (CSGN) is poised to report its biggest quarterly loss since the collapse of Lehman Brothers Holdings Inc. after being fined $2.6 billion for helping American clients evade taxes. The bank will tomorrow post a loss ...
European Stocks Drop for a Second Day on Ukraine Conflict
July 18th, 2014
European stocks fell for a second day, paring a weekly advance, amid concern that conflict between Ukraine and Russia is deepening. U.S. index futures were little changed, while Asian shares declined. Air France-KLM and Deutsche Lufthansa AG dropped at ...
Morningstar settles $61 million trade secret suit
July 18th, 2014
Morningstar, the Chicago investment research firm, settled a trade secret suit with Business Logic, a Chicago-based developer of financial software, for $61 million. Business Logic provided Ibbotson Associates with software for tracking and managing individuals’ 401(k) accounts in 2003. ...
