Archive – Banking & Fintech

SNB limits loss to CHF33.9 billion

This content was published on Oct 30, 2015 The SNB’s financial result depends largely on developments in the gold, foreign exchange and capital markets. On January 15, the SNB scrapped the minimum exchange rate of CHF1.20 per euro. The subsequent appreciation of the Swiss franc led to exchange rate-related losses on all investment currencies. For the first three quarters of 2015, these totalled…

Sharing economy as a successful business

Sharing economy is a successful business

This content was published on Oct 29, 2015

Eveline Widmer-Schlumpf: the ‘prudent’ accountant

This content was published on Oct 29, 2015 The newspapers are full of praise for the politician who unconventionally took a seat on the cabinet eight years ago.

Falciani confirms no-show at ‘political’ Swiss trial

This content was published on Oct 28, 2015 “This trial was called for by a bank [HSBC], which put the money on the table so as not to be tried,” Falciani told reporters at a press conference in Divonne, France, north of Geneva, on Wednesday. Viewed by the Swiss authorities as a data thief who betrayed his employer, Falciani failed to appear at…

Government forced to tap emergency fuel reserves

This content was published on Oct 28, 2015 To prevent a petrol and diesel shortage in Switzerland, the federal authorities have decided to tap the nation’s emergency reserves.

Swiss private bank Hottinger faces bankruptcy

This content was published on Oct 26, 2015 The Zurich-based bank, which was founded in 1786, has branches in Geneva, Basel, Sion and Brig and New York. It is believed to have around 50 employees, 1,500 clients and assets of CHF145 million ($148 million). Hottinger has been on FINMA’s radar for some time as sustained losses and unresolved litigation pushed it towards unsustainable…

Swiss companies adjust to strong franc

This content was published on Oct 26, 2015 More than a third (37%) of the 110 Swiss chief financial officers (CFOs) surveyed still considered the economic outlook for the next 12 months to be negative. However, fewer were pessimistic than the previous quarter (41%). Swiss businesses appear to have accepted the new reality and to have gradually adjusted to the exchange rate appreciation,…

Schoolroom of the International School in Solothurn

International schools in crisis

This content was published on Oct 26, 2015

Late trains may make everyone else later

This content was published on Oct 25, 2015 Swiss Federal RailwaysExternal link said past research had shown that when trains waited less to pick up passengers from a connecting late train, punctuality improves everywhere. During the pilot, trains will not be held. Tests began this month and will continue until mid-December on weekday trains going between Bern, Basel and Zurich. If trains taking…

Credit Suisse CEO defends new game plan

This content was published on Oct 25, 2015 “That is my goal,” Thiam told the Neue Zürcher ZeitungExternal link (NZZ). The CHF3.5 billion ($3.5 billion) austerity package and investments of CHF1.5 billion announced on Wednesday were “not a contradiction”, Rohner told the paper separately, noting “we have a growth plan and consider investments necessary”. “Companies have to be competitive when it comes…

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