As one case regarding whistleblowers selling account information to German tax authorities is closed, Switzerland is faced with a new whistle-blowing scandal as two Swiss banks employees hand over client information to U.K. tax officials.
Category: Economy
Categories
Germany Says Yes To Growth, Yes To Rigor
Op-ed: Germany has been accused of being anti-growth. But Germany’s Finance Minister Wolfgang Schäuble argues that growth goes hand-in-hand with the budgetary discipline that Europe’s biggest economy holds so dear.
If Athens opts out of the euro zone, the economic union as a whole will probably survive. But it won’t be pretty, especially for Germany, which stands to lose upwards of 100 billion euros, according to economists.
The Pentagon plans to shutter its air base in Mannheim, Germany, meaning the property – which is significantly bigger than the city itself – will soon be on the market. The local government wants to incorporate the space, but fears it’ll end up in the han
EL PAÍS (Spain) BUENOS AIRES — Just days after finalizing the hostile takeover of Spanish-owned oil and gas company YPF, the Argentine government got even more hostile, freezing imports of Spain’s signature delicacy: ham. The Cristina Kirchner administration agreed to the measure at the behest of the Argentine meat industry and farmers, who are looking […]
LES ECHOS (France) PARIS – François Hollande, the French President-elect, has chosen the car he (or rather, his chauffeur) will drive down the Champs-Elysées on Inauguration Day. While outgoing President Nicolas Sarkozy favored the Vel Satis by Renault five years ago, his Socialist successor picked the hybrid DS 5 by Citroën in a “metallic grey” […]
Editorial: President Cristina Kirchner received Congressional approval this week for the Argentine government’s announced takeover of YPF, an oil and gas company. The move will help pay for her government’s pricey social programs. But at what cos
The “100% Made in Africa” sneaker company Sawa is struggling to keep its brand in Africa, faced with corruption and consequences of the Arab Spring. But the touch of local handcraft combined with cheap labor is loaded with potential.
Like other workers, those at the German railway company Deutsche Bahn have clear opinions about those running the show. Now, employee satisfaction will actually weigh on the compensation of senior executives.
Germany’s economy has not quite come “roaring” back. Slowly but surely, however, Europe’s biggest economy is growing, adding jobs and prompting observers to expect even better days ahead.
A federal court in Switzerland rules that rent should not be based solely on market conditions, but on how much the landlord originally paid for the property.
Mercedes, BMW, Porsche and other top automakers know that the Chinese market is huge – and the potential is even bigger. All the best wares are on display in Beijing.
The University of São Paulo is experimenting with “creative currency,” raising virtual cash that can be converted into Brazilian reais to fund culture projects that are very real indeed.
Forget Disneyland and dinosaurs exhibits. Here’s a new way to try to engage the kids that can also help secure their future: the world’s first ever Savings and Finance Museum opens in Turin next month. The mascot is an industrious little
At the World Economic Forum on Latin America in Mexico, AméricaEconomía tries to get a handle on Cristina Kirchner’s nationalization of gas and oil company YPF – and Spain’s fierce reaction. But getting an Argentine to speak frankly on the matter is no si
If you believe recent headlines, Spain is going the way of Greece. But maybe things aren’t really as bad as all that. One Zurich-based economist sees reasons for cautious optimism and thinks a little help from the European Central Bank could go a
Getting ahead these days in the land of Baudelaire and Balzac means mastering the language of Shakespeare – or at least, Zuckerberg. No longer just a plus, strong English is often required for both entry level and top manager slots. But it’s brou
Cell phones contain trace amounts of gold, silver, copper and other valuable minerals. Lawmakers in Germany are cluing into these hidden treasures, but haven’t yet come up with an effective way to harvest them.
Op-Ed: The economic crisis in Spain is prompting many young professionals to seek better opportunities overseas. A popular destination for these so-called mileuristas – educated Spaniards who can’t earn more than 1,000 euros a month – is up-and-coming Chi
Obituary: The former designer and auto company chairman F.A. Porsche has died at the age of 76 after a long illness. He was best known as the designer of the Porsche 911, an icon of 20th century design, but he also went on to create some much smaller gems
From the flower fields of Grasse to the crystal perfume bottles sold in Paris, the process of creating a best-selling and enduring fragrance like Chanel N°5 or Poison by Dior is a long and delicate journey in a cut-throat business where competition and po
Nothing can stop Baidu. The search engine giant holds an 80% share of the Chinese market, thanks to a simple “less is more” philosophy. Part of the “more” are China’s best and brightest engineers, who work to u
Thanks to recent changes from the Argentine Central Bank Charter, the Kirchner administration has access to lots more cash. How will the government spend it? An increasingly likely option is a public buyout of YPF, the affiliate of Spanish energy company
Essay: You would think having more women in the boardroom would lead to more cautious management, but a new study finds that female financial executives tend to take more risks than men — sometimes in a troubling attempt to imitate their male counterpart
Asia is going through its own so-called “Fordist” phase, as countries are introducing minimum wage standards and multiplying some salaries by five in order to turn citizens into consumers. But what does this mean for the rest of the worl
The new status symbol for China’s ultra rich businessmen: a private jet. But before this fad can truly take off, authorities have to loosen up strict regulations governing the domestic airspace.
It took only a few years for this little start-up to become a digital ‘what-to-do’ phenomenon: without any advertising, it has 800.000 readers and growing…
The reassigning of US prosecutors away from foreign tax fraud cases is the latest sign that the standoff between Washington and Bern may be moving rapidly toward a final, negotiated settlement. Heads rolling at top Swiss banks may have helped pave the way
Europe’s job seekers can expect tough years ahead. Cedefop, an EU agency, predicts slow employment growth will continue to come down disproportionately hard on the educated youth. Some are even asking if a university degree is still worth the time and mon
According to a new study published by financial communications network AMO, European firms are becoming more and more proactive in looking for financing from China. The enthusiasm is not shared across the West.
Categories
Will China’s Economy Burst, Japan-Style?
Some nervous observers in China are seeing too many similarities between the current state of the Chinese economy and what happened to Japan in the 1990s. For starters, the super-rich are cranking up real estate values, and the middle class is paying the
Long appreciated in the U.S. as an icon of Italian style, the vespa scooter is now making real inroads into the American mainstream. Last year, it became the top-selling European two-wheeler in the States, with more than 5,300 units sold.
Investment bankers are often young men with too much testosterone. To add a bit of rationality to the global financial system, maybe it’s time banking giants like Goldman Sachs bring on more women and older men.
Climate change is wreaking havoc on Greenland’s sensitive ecosystems. But it is also giving miners and energy explorers easier access to the Arctic island’s valuable natural resources. Greenland is thought to be particularly rich in “rare earth” minerals.
For those firms looking to cash in on the booming Chinese economy, there are as many recent tales of failure and retreat, as those of runaway success. Certain patterns have begun to emerge, both universal and China-specific lessons to be learned.
A possible precedent-setting decision in India has Western drug makers on edge. Indian authorities have told a local firm it can produce a generic version of Nexavar, a cancer drug developed and sold by Bayer, whether the German pharmaceutical giant likes
Wall Street was buzzing this week after Greg Smith quit his top executive job at Goldman Sachs with a scathing criticism of the investment bank in the New York Times. In Switzerland, where banking secrecy is paramount, his public act is virtually unthinka
Brazil is spending freely as it prepares to host the 2014 World Cup. The event is also expected to attract investment from abroad, and possibly boost Brazil’s country brand. But will it singlehandedly boost GDP by 1.5% as one top economist claims?
No longer willing to let top management call all the shots, major investors in many of Germany’s top firms are demanding more of a say in how companies go about their business.
Mickey Mouse muscled his way into the French tourism market in 1992 with the opening of Euro Disney. Now called Disneyland-Paris, the park is France’s top tourism attraction and employs nearly 15,000 people. But not all are thrilled.