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UBS pays Germany €300m in tax fight
Taxes

UBS pays Germany €300m in tax fight

Top Swiss bank UBS settled a long-running legal dispute with Germany on Tuesday by agreeing to pay a fine of €300 million. Germany suspects UBS of having helped account holders hide millions from the taxman.
Painter Baselitz raided in tax avoidance move
Taxes

Painter Baselitz raided in tax avoidance move

One of Germany's highest-earning living artists, Georg Baselitz, saw his lakeside house searched by tax officials at the weekend after his name appeared in stolen files of people who allegedly used UBS Swiss bank accounts to avoid tax.
Chemical giant BASF to axe 500 jobs
Jobs

Chemical giant BASF to axe 500 jobs

German chemicals giant BASF said Tuesday it planned to axe around 500 jobs worldwide, including 350 in Switzerland, in its so-called performance products division over the next two years.