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Business 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. A former chairman of Tesco, the world's No.3 retailer, said that restoring the store group's fortunes could take up to three years and appealed to investors to give Chief Executive Phil Clarke sufficient time. A survey showed that U.S. consumer sentiment improved in late June, ending the month close to a near six-year high set in May, as optimism among higher-income families rose to its strongest level in six years.

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