ZURICH, June 11 (Reuters) – Switzerland’s Eveline
Widmer-Schlumpf, a lone woman in the male bastion of Swiss
finance, is short of friends as she seeks to end the country’s
reputation as a haven for tax cheats, but has a track record of
getting her own way.
The 57-year-old finance minister has already taken tough
decisions in response to the global financial crisis, which hit
the liquidity of the country’s vast banking industry and looks
likely to end the secrecy that has underpinned it.
ZURICH, June 11 (Reuters) – Mondelez International,
the world’s second-biggest coffee producer, is going head to
head with Nestle by launching capsules compatible with
its rival’s Nespresso system to steal a share of the premium
The capsules will be sold under the Jacobs and Carte Noire
brands in Germany, France, Austria and Switzerland in the second
half of the year – the biggest challenge yet for the $4.4
billion Nespresso brand that has sued many copycat rivals.
GENEVA (Reuters) – The world’s wealthy will continue to trust their fortunes to stable, neutral Switzerland even as a clampdown on tax evasion undermines the country’s secrecy laws, Swiss bankers said.
“The worn-out cliche has it that the sector was built on banks offering shelter to tax frauds and illicit money. This is a gross distortion,” former Deutsche Bank (DBKGn.DE: Quote, Profile, Research, Stock Buzz) head Josef Ackermann told the Reuters Global Wealth Management Summit in Geneva.