How long, O Lord, how long?
Nowhere is recovery in view, but a slump is threatening every economy, and global depression is in prospect. ‘How long…
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Wealth
Silent nights in Manhattan
I like the nightlife; I like to boogie. But it seems these days my boogieing is less rave and more…
ByGuardian: Interest rate 0.5%, quantitative easing begins
The Bank of England has cut interest rates by half a point to another record low and begun the process…
ByBelieve the CIA
The CIA’s many critics will prefer to believe that the destruction was motivated by a desire to eliminate evidence. The…
BySondheim on the stock exchange
Gene takes their money, blows it on a Park Avenue rental, pawns a car and requires a bailout. Sound familiar?…
ByUBS can’t turn over client identities
March 5 (Bloomberg) — An executive for UBS AG, Switzerland’s largest bank, said its country’s laws prevent it from turning…
ByMadoff gives up investment business, artwork
NEW YORK — Bernard Madoff has agreed to give up the rights to his investment business and his company’s prized…
ByMillionaires’ confidence plunges
An index which measures the confidence of US millionaires, the Spectrem Millionaire Investor Index, has fallen its second-lowest level ever.…
ByCoutts cuts 150 jobs in the UK
Coutts & Co has started a process of cutting staff numbers as as part of an efficiency drive by its…
ByBreaking: Response to US tax havens act
They say the sequel is always worse than the original. The latest incarnation of US legislation targeting offshore financial centres…
ByDresdner staff preparing to sue for bonuses
Hundreds of Dresdner Kleinwort staff are preparing legal action to recover tens of million of pounds of unpaid bonuses, after…
ByReuters: Switzerland needs to co-operate
GENEVA, March 3 (Reuters) – Switzerland must increase its cooperation with foreign countries on tax cheats to avoid being made…
ByGuardian: UBS picks new chairman
Severely damaged Swiss bank UBS today turned to the country’s political establishment to help secure its battle for survival by…
ByGuardian: AIG biggest loss ever, Dow below 7,000
The crisis-stricken insurance company AIG has crashed $61.7bn (£43bn) into the red with the biggest corporate loss in US history…
ByReuters: Congressional bills target tax havens
WASHINGTON (Reuters) – Offshore tax havens used by rich Americans in Switzerland, the Cayman Islands and other nations are targeted…
ByMass for New Yorkers
Only in New York would you find getting into a church for a special service as tricky as getting an…
BySunday Times: Buffett: ‘I did dumb things’
Warren Buffett admitted yesterday that he did “some dumb things” in 2008, as the world’s richest investor announced that Berkshire…
ByFamily businesses best placed for recession
A new report from Barclays Wealth and the Economist Intelligence Unit (EIU) has singled out family businesses as being particularly…
ByFT: Swiss minister combats US name drive
Switzerland’s justice minister will on Monday meet her US counterpart in a crucial week in UBS’s efforts to fight attempts…
ByTUC: £4bn lost to UK through tax havens
Tax avoidance by wealthy UK residents through tax havens costs UK tax payers at least £4 billion a year, according…
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