Archive – Banking & Fintech

Nestlé sued in India over noodle marketing

This content was published on Aug 12, 2015 Officials at the consumer affairs department said they filed a complaint on Tuesday, alleging that the food giant had sold an unsafe product, through misleading advertising and had resorted to unfair trade practices. The suit, which was filed on behalf of consumers, alleges that the company had made a misleading association between the noodles and…

State-backed energy company sees growth in US, rebuffs critics

This content was published on Aug 10, 2015 “If a big mistake were to happen, the cantons would have to fix it, together with the taxpayers,” Hans-Peter Amrein from the conservative right Swiss People’s Party told the Tages-Anzeiger newspaper. Axpo, which is wholly owned by cantons in north-eastern Switzerland, produces, trades and sells energy and already operates in 20 European countries. It is…

Alcohol consumption continues to fall

This content was published on Aug 10, 2015 The average consumption of wine fell by one litre to 35.1 litres, with Swiss red wine seeing the greatest drop: 4.7 million litres. However, slightly more foreign red was drunk. A similar pattern was seen with white wine, but overall around 290 million litres of wine were drunk in Switzerland in 2014 – five million…

Switzerland: still a top destination for firms?

This content was published on Aug 10, 2015 Despite Switzerland still being attractive to international investors, tax reforms and immigration policies are creating uncertainty.

More Swiss banks settle tax evasion probe with US

This content was published on Aug 6, 2015 The foundation for the agreements was the programme that Swiss banks signed up to with the US Department of Justice in August 2013. It separated banks into different categories depending on the level of US tax evasion believed to exist within their accounts. Banks such as UBS and Credit Suisse were in category one, the…

Poland allows conversion of franc mortgages

This content was published on Aug 6, 2015 The law will affect around half a million Poles who took out loans several years ago, before the franc soared in January this year. Many mortgage holders were left struggling to repay their debts, valued at some 144 billion zlotys (CHF37 billion). The legislation will allow people living in apartments and houses no larger than…

GPS instead of a bell

This content was published on Aug 5, 2015

Swiss property market soars dangerously high

This content was published on Aug 4, 2015 The property market in Switzerland, which is moving ahead while the economy shrinks, is facing the greatest threat of an economic bubble since 1991, according to UBS.

Europe’s banks should look for a structurally coherent business mix

This content was published on Aug 4, 2015 Their investment banks, it turns out, are not just capital-hungry monsters whose main contribution is high costs and a steady stream of misconduct fines. They can actually be coaxed into producing a decent return, given the right sorts of conditions (such as strong markets and enough volatility). Profits at Barclays’ investment bank, for example, rose…

Trader guilty of Libor rate rigging

This content was published on Aug 3, 2015 Hayes, who was employed at UBS in Tokyo, before taking a job briefly at Citigroup, was convicted by Britain’s Serious Fraud Office (SFO) on eight counts of conspiracy for manipulating the rate. A judge sentenced him to 14 years in jail. During the trial, Hayes was portrayed as the ringleader of an international team of…

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