Banking Latest News: Switzerland Charges Man With Selling Bank's Client Data to Germany

Wochit 0:56 mins

Swiss prosecutors have charged a German IT expert with selling client data from private bank Julius Baer in Zurich to the German tax authorities. An accomplice, identified only as a retired German tax inspector, was under investigation, the prosecutors said in a statement. The Federal Reserve's gradual exit plan from printing money has shifted the world's central bank landscape and thrown financial markets into a spin. The U.S. central bank has pumped $85 billion a month into its economy but has now said it will slow that rate and maybe halt it by mid-2014. Britain has kicked off the process of appointing advisors for the sale of its shares in Lloyds Banking Group and Royal Bank of Scotland , asking investment banks to submit proposals by July 8th.

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