Archive – Banking & Fintech

UBS ordered to comply with French request

This content was published on Jul 5, 2016 The Zurich-based bank said it received a disclosure order from the Swiss Federal Tax Administration (FTA) to transfer information based on a French request for international administrative assistance in tax matters. “The request concerns a number of UBS account numbers pertaining to current and former French domiciled clients and is based on data from 2006…

ABB’s ‘Mr Robot’

This content was published on Jul 4, 2016 The former management consultant had taken over the ailing robotics division of Swiss engineering group ABB. Its robots were too expensive and pitched largely at the auto industry, which was in a severe downturn. Operating losses in robotics hit almost $300m in 2009. “It was bleeding like hell,” Mr Spiesshofer recalls. “A lot of people…

Fare dodgers cost Swiss Railways millions

This content was published on Jul 3, 2016 According to a report in the Le Matin Dimanche and SonntagsZeitung, last year 460,000 people were caught on the Swiss Railways network without a valid ticket. Eighty per cent of fare dodgers were issued with a fine of CHF70-90 sent to their home address. But only one in three actually paid the fine. Over 300,000…

Cantons demand higher quotas for non-EU skilled workers

This content was published on Jul 3, 2016 The cantonal economic directors from the three regions have issued a joint demand to the federal government to raise the number of residence permits and work permits for specialists from non-EU states from 6,500 to at least 8,500 a year. This limit was imposed in 2015 following an anti-immigration vote. “The quota system is a…

Roche to cut 350 IT jobs

This content was published on Jul 2, 2016 A spokesman told Reuters that 100 posts would be cut in Switzerland and another 100 in the United States, confirming a report by the Basler Zeitung newspaper. The remainder of the job cuts would be spread across several other countries, mostly in Europe. At the same time, the Basel-based firm plans to add 300 jobs…

Swiss retailers cut plastic bag use

This content was published on Jul 1, 2016

Brexit worries for Swiss watchmakers

This content was published on Jun 30, 2016 “The British vote to leave the European Union, the so-called Brexit, is increasing uncertainty and putting pressure on the Swiss franc,” Jean-Daniel Pasche, president of the Federation of the Swiss Watch Industry, declared on Thursday ahead of the organisation’s annual meeting. The slowdown in the watchmaking industry that has been felt since mid-2015 should continue,…

Glencore paid $5 billion to foreign governments

This content was published on Jun 29, 2016 Glencore was forced to reveal the figures by a new European Union law that addresses allegations of tax dodging by the commodities industry and of corruption within the countries that the raw materials are mined. All of Glencore’s figures are characterized as above-board payments in line with international standards. Swiss pressure group Public Eye greeted…

Swiss tourism industry ‘must be friendlier’

This content was published on Jun 29, 2016 The latest forecast by Zurich’s KOF Swiss Economic Institute predicts that this summer, overnight stays in Swiss hotels will rise by 1.4% compared with 2015, with 1.3% more Swiss guests and 1.5% more foreign visitors. Despite the positive projections in the face of the strong franc, a survey by hotel review portal Holidaycheck shows that…

Pictet private bank seeks to retain the family touch

This content was published on Jun 29, 2016 When pitching for wealthy Asian entrepreneurs as clients, it helps if your bank has your family name on its front door.

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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UBS ordered to comply with French request

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ABB’s ‘Mr Robot’

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Fare dodgers cost Swiss Railways millions

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Cantons demand higher quotas for non-EU skilled workers

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Roche to cut 350 IT jobs

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Swiss retailers cut plastic bag use

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Brexit worries for Swiss watchmakers

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Glencore paid $5 billion to foreign governments

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Swiss tourism industry ‘must be friendlier’

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Pictet private bank seeks to retain the family touch

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