Archive – Banking & Fintech

Thousands of jobs on the line at Zurich Insurance

This content was published on Feb 11, 2016 On Thursday, Zurich reported a fourth-quarter loss, stemming from damage claims, including the Tianjin disaster in China and storms in the United Kingdom and Ireland. 2015 was a difficult year for the company, and the latest results have led the insurance firm to make definitive plans for a cost-saving programme. Zurich said last year that…

Swiss defence firms ‘make in India’

This content was published on Feb 9, 2016 It is easy to forget you’re in India when cruising along Hyderabad’s outer ring road. The eight-lane expressway that encircles the southern Indian city of over 6.7 million inhabitants allows cars to reach 120 km/h compared with the sluggish 10 km/h in downtown rush hour traffic. The expressway also takes you to India’s first aerospace…

Julius Baer signs final deal with the US

This content was published on Feb 5, 2016 The accord means the bank will pay a pre-agreed sum of $547.25 million (CHF 544.15 million), but it will not be prosecuted. Julius Baer made an announcement in the early hours of Friday morning that a Deferred Prosecution Agreement had been signed. In a statement from the US Department of Justice (DoJ), Acting Assistant Attorney…

Credit Suisse rebuilding gets off to painful start

This content was published on Feb 4, 2016 Huge write downs and job losses get Credit Suisse off to a rocky start along the path to restructuring.

ChemChina buys Syngenta in record Chinese deal

This content was published on Feb 4, 2016 Syngenta’s board voted unanimously to accept the offer, which will be finalised by the end of 2016. SyngentaExternal link said on Wednesday the move would allow it to make long-term investments in innovation. Syngenta’s current management will continue to lead the company. After the transaction is finalised, a board of directors composed of six members…

Credit Suisse posts first annual loss since 2008

This content was published on Feb 4, 2016 Adjustments in the investment sector are the main reason for the loss, but restructuring costs and other provisions also played a role. Most of those adjustments are due to the ill-fated acquisition of the US investment bank Donaldson, Lufkin & Jenrett (DLJ) in 2000, as Credit Suisse announced on Thursday. Credit Suisse purchased that bank…

Swisscom cuts jobs, call centres amid lower earnings

This content was published on Feb 4, 2016 The announcement came as the 2015 annual report showed that Swisscom had brought in one-fifth fewer profits than a year ago, with earnings of CHF1.36 billion ($1.35 billion). Part of the reduction in profits was due to a CHF186 million fine from the federal competition commission COMCO, which cited Swisscom for having rented its DSL…

Octopus-like ChemChina seeks to take a slice of GM food market

This content was published on Feb 4, 2016 ChemChina’s $43 billion offer for Syngenta is most notable for being China’s largest proposed takeover of an overseas target to date.

White-collar crimes increase but cause less damage

This content was published on Feb 2, 2016 The number of cases was the greatest since consultants KPMG started gathering data systematically on white-collar crime in 2008. In 2014, the courts looked at 77 major cases of white-collar crime. However, the cost of those 91 cases was significantly down from CHF537 million the previous year, KPMG said in its Forensic Fraud Barometer on…

Switzerland tops Europe for economic freedom

This content was published on Feb 2, 2016 “The Swiss economy benefits from high levels of flexibility and institutional strengths that include strong protection of property rights and minimum tolerance for corruption,” wrote the authors of the 2016 Index of Economic FreedomExternal link, which measures a country’s freedom in terms of property rights and freedom from government regulation. “Openness to global trade and…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Thousands of jobs on the line at Zurich Insurance

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Swiss defence firms ‘make in India’

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Julius Baer signs final deal with the US

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Credit Suisse rebuilding gets off to painful start

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ChemChina buys Syngenta in record Chinese deal

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Credit Suisse posts first annual loss since 2008

More

Swisscom cuts jobs, call centres amid lower earnings

More

Octopus-like ChemChina seeks to take a slice of GM food market

More

White-collar crimes increase but cause less damage

More

Switzerland tops Europe for economic freedom

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Most Discussed