Archive – Banking & Fintech

Nestlé drops Givaudan from balance sheet

This content was published on Dec 6, 2013 The Swiss multinational’s entire stake is valued at as much as CHF1.08 billion ($1.20 billion). “I think the cash will be used for bolt-on deals and may help to enable a small buyback potentially within the next 18 months,” Jon Cox, an analyst at Kepler Cheuvreux, told the Reuters news agency. The maker of KitKat…

What importance is given to human rights?

This content was published on Dec 4, 2013

China opens up to Swiss exporters

This content was published on Dec 4, 2013 The 1,152-page document, signed on July 6 in Beijing, opens new horizons for Swiss exporters – even some very unlikely ones. Switzerland could sell the Chinese crocodile meat, (live) monkeys or dolphins, bamboo shoots or dried coconuts. It may sound like madness, but there’s method in it. The deal covers not just real exports, but…

Smartwatches: a ticking timebomb for watchmakers?

This content was published on Dec 3, 2013 Forty years after Japanese quartz watches brought the Swiss watch industry to its knees, the sector faces a new challenge in the “smartwatch”.

Banks play catch-up on social networks

This content was published on Dec 2, 2013 Researchers at financial comparison site, moneyland.ch, used publicly available information on 20 Swiss banks’ use of social media and awarded points based on their usage and interaction on different sites. They then compared this to their assessments of 50 banks abroad. On average, Swiss banks totted up 45% of the maximum points total, compared with…

Decade of debt brake given positive marks

This content was published on Nov 29, 2013 Introduced following a nationwide ballot, the debt brake requires federal spending to be linked to revenues in the budget process – any new spending or tax cuts must be accompanied by an increase in corresponding revenues or cuts to programmes. In the report, published on Friday, the government said federal finances had developed positively under…

Basel cantonal bank chairman resigns over scandal

This content was published on Nov 29, 2013 In a statement the cantonal bank said Albrecht was resigning to protect the bank from a “loss of confidence” after the Swiss Financial Market Supervisory Authority (FINMA) ordered the bank on November 21 to pay back CHF2.6 million ($2.9 million) in profits earned by propping up the price of its own certificates. The local government-backed…

Ex-UBS banker Weil agrees to extradition to US

This content was published on Nov 28, 2013 Weil has been held in an Italian jail for over five weeks after police arrested him in Bologna where he was holidaying with his wife. The 54-year-old Swiss citizen parted company with Switzerland’s largest bank in 2009 after being declared a fugitive by the US courts for failing to respond to a criminal indictment issued…

UBS Paris searched by police

This content was published on Nov 27, 2013 In June, UBS was placed under formal investigation for alleged complicity in suspected illegal sales practices, as governments and regulators worldwide crack down on tax evasion. “As part of the inquiry opened in February 2012, investigating magistrate Guillaume Daieff has conducted an on-site visit of the Paris headquarters of UBS France,” the UBS spokesman said…

Irish sense advantage in foreign firm drive

This content was published on Nov 27, 2013 The gleaming white and glass facia of Ireland’s “Silicon Docks”, reflecting in the waters of Dublin Bay, appears a beacon of prosperity and progress. Among the multinational companies that call the EastPark business location home is internet giant Yahoo, and its headquarters for Europe, Middle East and Africa (EMEA). Ireland competes fiercely with Switzerland in…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Nestlé drops Givaudan from balance sheet

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What importance is given to human rights?

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China opens up to Swiss exporters

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Smartwatches: a ticking timebomb for watchmakers?

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Banks play catch-up on social networks

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Decade of debt brake given positive marks

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Basel cantonal bank chairman resigns over scandal

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Ex-UBS banker Weil agrees to extradition to US

More

UBS Paris searched by police

More

Irish sense advantage in foreign firm drive

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