Archive – Banking & Fintech

Bank Leumi hit with $400 million US fine

This content was published on Dec 23, 2014 Israeli bank Leumi has been fined $400 million by the US for poaching tax cheat clients from Swiss banks.

Nestlé bets on Chinese dairy farmers

This content was published on Dec 21, 2014 Located in Shuangcheng in the rural state of Xinfu, the new training facility is housed in a large, futuristic, cylindrical building where some two dozen students from various provinces have since October each paid 2,000 Yuan (CHF318) for a three-day course in modern farming methods. The training model used is based on one employed by…

Bank whistleblower sentenced for fake leaks

This content was published on Dec 19, 2014 Pierre-Gerbier Condamin admitted sharing financial information and violating trade secrets to the Federal Criminal Court in Bellinzona that pronounced the verdict on Friday. He also admitted to fabricating the list of French tax evaders and falsifying documents to prove its existence. In 2013, Condamin claimed that he held a list of well-known French names with…

Exports to Russia take a nosedive

This content was published on Dec 19, 2014 Swiss exports to Russia plummeted 36% last month compared to the same period last year according to the latest official statistics. But companies are refusing to panic, instead taking a long-term view.

SNB slaps charge on Swiss franc stockpilers

This content was published on Dec 18, 2014 The growing allure of the franc for international investors has forced the Swiss National Bank (SNB) to introduce negative interest rates as it battles to defend its CHF1.20 exchange rate ceiling with the euro.

First woman appointed to Swiss National Bank board

This content was published on Dec 17, 2014 The Swiss cabinet has appointed Andrea Maechler as the first female member of the governing board of the Swiss National Bank (SNB). She will replace Jean-Pierre Danthine, who retires next June.

Economic growth predicted for next two years

This content was published on Dec 17, 2014 For 2015, the KOF Swiss Economic Institute has raised its growth forecast for Gross Domestic Product from 1.7% to 1.9%.

Sika bid tests Swiss takeover system

This content was published on Dec 16, 2014 Concerns centre on plans by the descendants of Sika’s founder to sell their 16% stake to French conglomerate Saint-Gobain at a premium price of CHF2.75 billion ($2.85 billion). What makes this unusual is that the Burkard clan’s stake comes with 52% of the voting rights while an obscure “opt-out” clause in the takeover law allows…

President is ʻconfidentʼ Swiss will agree with EU

This content was published on Dec 14, 2014 Burkhalter said in an interview with the Sunday newspaper NZZ am Sonntag that it will be a “difficult road ahead”. He said it is important for the future of the bilateral agreements between Switzerland and the EU that the parties can agree on the open questions. Many open issues concern the immigration quotas Switzerland has…

Cross-border Christmas shopping

This content was published on Dec 12, 2014 27,000 customers visit the Lago shopping centre in Constance everyday. Every third visitor comes from Switzerland. During the holiday season Swiss make up half of the customers. The Lago has been awarded the most profitable shopping centre in Germany three times since its opening. But with Swiss going over the border in search of cheaper…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Bank Leumi hit with $400 million US fine

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Nestlé bets on Chinese dairy farmers

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Bank whistleblower sentenced for fake leaks

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Exports to Russia take a nosedive

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SNB slaps charge on Swiss franc stockpilers

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First woman appointed to Swiss National Bank board

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Economic growth predicted for next two years

More

Sika bid tests Swiss takeover system

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President is ʻconfidentʼ Swiss will agree with EU

More

Cross-border Christmas shopping

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