Archive – Banking & Fintech

PaineWebber shareholders endorse UBS takeover

This content was published on Oct 24, 2000 In a statement on Tuesday, UBS said its $10.8 billion (SFr19.33 billion) merger with PaineWebber should take effect in early November, following the completion of all necessary regulatory approvals. UBS said it would publish preliminary third-quarter figures on Thursday, a month earlier than previously announced. It explained that this was to ensure maximum transparency and…

Search goes on in Gondo

This content was published on Oct 24, 2000 The search is now concentrating on the lower part of the village, near the Diveria River. The rescuers say work has been difficult because of the large amount of mud and rocks in the area. Crews have also been clearing away the wreckage as well as the remains of the mudslide. Their aim is to…

Swisscom shares on the rise after reports of impending bidding war

This content was published on Oct 23, 2000 Shares originally rose five per cent when the market opened following the report in the German magazine “Der Spiegel”. At the end of the day’s trading, Swisscom shares had gained SFr11, reaching a closing price SFr409. “Der Spiegel” says Vodafone has made the better offer so far. Swisscom, which was partly privatised two years ago,…

Spain to ratify EU accords with Switzerland this year

This content was published on Oct 23, 2000 “This issue raises no problems,” said Couchepin, after holding talks with the Spanish secretary of state for European affairs, Ramon de Miguel, during a two-day visit to Spain. Only one country, Austria, has so far ratified the accords, but all the other EU states are expected to follow suit by the middle of next year.…

Government clings to banking secrecy in face of mounting pressure

This content was published on Oct 23, 2000 “There’s no chance of Switzerland being forced to abandon this principle, at least as long as we’re cooperating in an efficient way to solve the real problems,” Villiger told swissinfo. Speaking to journalists in Geneva, Villiger expressed his anger at the clichéd view of Switzerland as a money-laundering paradise and repeated that banking secrecy was…

Swiss banks credited with leading battle against money laundering

This content was published on Oct 23, 2000 The FT says a dozen of the world’s biggest banks, including Switzerland’s UBS and Credit Suisse, have agreed to the guidelines in an effort to head off criticism of their involvement in high profile money laundering cases. The paper credits Swiss banks with leading the initiative, and says the guidelines have been put together in…

Swiss stock exchange firms up blue chip deal with British partner

This content was published on Oct 23, 2000 Under the agreement, the new exchange is expected to be operational on the SWX’s EBS trading platform by the end of next March. SWX will then cease trading in all its Swiss blue chip shares. “The creation of virt-x is a major step forward for pan-European equity trading,” said Swiss Exchange chief, Antoinette Hunziker-Ebneter. “It…

Crossair moots job cuts in bid to save money

This content was published on Oct 23, 2000 The carrier, which is part of the SAirGroup, said it is studying downsizing possibilities because of the economic situation and the refusal of the majority of its pilots to accept a new collective working agreement. The company is thinking of discontinuing services on some loss-making routes. This would mean selling between five and 10 Saab…

Economics minister on official visit to Spain

This content was published on Oct 23, 2000 Last year, Spain was Switzerland’s ninth largest trading partner, taking in Swiss exports worth SFr3.4 billion ($1.9 billion). This year trade has continued to grow; at the end of August Swiss exports to Spain had increased by 11.2 per cent, while imports from Spain were up by 17.3 per cent. “Spain has experienced rapid economic…

Swiss banks lead charge against dirty money

This content was published on Oct 23, 2000 A package of measures to combat money laundering will be announced at the beginning of next week. Switzerland’s largest bank, UBS, confirmed on Monday the 12 banks had agreed to further the fight against dubious funds. The measures are known as the “Wolfsberg guidelines”, after the UBS training centre in Switzerland where they were agreed…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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PaineWebber shareholders endorse UBS takeover

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Search goes on in Gondo

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Swisscom shares on the rise after reports of impending bidding war

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Spain to ratify EU accords with Switzerland this year

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Government clings to banking secrecy in face of mounting pressure

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Swiss banks credited with leading battle against money laundering

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Swiss stock exchange firms up blue chip deal with British partner

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Crossair moots job cuts in bid to save money

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Economics minister on official visit to Spain

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Swiss banks lead charge against dirty money

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