Swiss bank UBS said Tuesday it is banning its private bankers from traveling overseas amid a tax evasion probe by the U.S. government. The global travel ban, which came into force April 1, applies to private bankers in the Wealth Management & Swiss Bank and Wealth Management U.S. divisions, the bank said. UBS, Switzerland's largest bank, is in a legal battle with the U.S. officials over its unwillingness to divulge the names of American clients it helped to avoid paying ...

Hundreds of people were feared dead on Tuesday after high winds and heavy seas capsized boats carrying African migrants heading for Europe off the coast of Libya. "A tragedy has happened off the Libyan coast with at least two boats going down ... with obviously hundreds of people going down at sea," Jean-Philippe Chauzy with the International Organization for Migration in Geneva, Switzerland, said Tuesday, citing diplomatic officials in Tripoli and Libyan officials. The vessels departed Sunday and were heading ...

Secretary of State Hillary Clinton was coy Monday about whether she would meet Iranian delegates at an international conference on Afghanistan, and she urged Tehran to play a positive role in helping stabilize its neighbor. "I believe that there will be an opening by this conference that will enable all the countries, including Iran, to come forward," Clinton told reporters aboard her plane en route to The Hague for Tuesday's conference. "The fact that they accepted the invitation to come ...

Over the next week CNN has special coverage of one of the world's biggest gatherings of the luxury industry from Basel, Switzerland, bringing you the views of the people behind some of the biggest brands. In this time of economic upheaval, these brands are being put to the test. People are spending their hard-earned money much more carefully. If they're going to shell out thousands of dollars for a timepiece or a trinket they want to know it's worth ...

Baby, it's cold outside. But the early spring chill doesn't deter Thomas B. from taking a brisk walk along Appenzell's hilly trails to enjoy the green landscape of this rural canton in northeast Switzerland. There's a good reason why Thomas, 24, doesn't give out his last name: he is concerned that his bosses at a nearby bank may not like his unconventional hiking attire consisting of shoes, socks, a backpack — and nothing else. Thomas isn't just some nature nut ...

European champions Manchester United will play Porto in the quarterfinals of this season's Champions League, while Liverpool and Chelsea were drawn to face each other in the knockout stages for the fourth time in five seasons. English sides dominated the eight-team draw in Nyon, Switzerland, with Arsenal making up a quartet of Premier League clubs chasing European football's top prize. The Gunners were drawn to face Spanish side Villarreal, who will be seeking revenge for their defeat by Arsenal at ...

Top seed Rafael Nadal had to save five match points before beating Argentina's David Nalbandian 3-6 7-6 6-0 to reach the quarterfinals of the Masters Series tournament at Indian Wells. The fourth round match in California finished at 2 am local time on Thursday morning with world number one Nadal racing through the decider after surviving the scares in the second set. Nalbandian had not dropped a set against Nadal in their previous two matches and made a confident start ...

The White House scrambled on Monday to get ahead of the latest outrage stemming from the bailout of failed corporate behemoth American International Group : $165 million in bonus pay for executives in one part of the firm, which is now 80% controlled by American taxpayers. President Barack Obama took to the podium in the East Room to tag AIG by name, calling its financial predicament a product of "recklessness and greed." The President said he has asked Treasury ...

Prince Charles has sent a condolence message to the family of a wealthy British couple who ended their lives together at a euthanasia clinic in Switzerland, according to media reports. Peter and Penelope Duff from Bath, England, died in Zurich on February 27, according to a statement released Thursday by their family. Both had terminal cancer. Prince Charles sent the message to the couple's son-in-law, Simon Conibear, who works as a development manager at his "model village" in Poundbury, Dorset, ...

The Pakistani government recently announced a truce with the Taliban and allowed it to set up Islamic courts in the country's Swat Valley. Reports abound that girls will no longer be allowed to go to school, that brutal beatings are taking place for minor infractions, and the list goes on. NEW YORK (CNN) -- The Pakistani government recently announced a truce with the Taliban and allowed it to set up Islamic courts in the country's Swat Valley. Reports abound that ...