Archive – Banking & Fintech

UBS unimpressed with Facebook IPO repayment

This content was published on Mar 26, 2013 The United States Securities and Exchange Commission (SEC) approved the Nasdaq stock exchange’s repayment package on Monday, stating that while it does not cover all the institution’s losses, it is “significantly more compensation for eligible claims, outside of litigation, than would otherwise be available.” But UBS spokesperson Serge Steiner said the bank intends to seek…

Free trade talks require watching and waiting

This content was published on Mar 24, 2013 In an interview with the NZZ am Sonntag newspaper, Economics Minister Johann Schneider-Ammann assumed a realistic tone when asked about the progress of free trade talks with China, stating that progress was made in the latest round of talks but that there remain “a few hard nuts to crack”. “When we ask the Chinese to…

Crowdfunding revives oldest Swiss watch factory

This content was published on Mar 21, 2013 When Steinemann bought the dormant DuBois et Fils watch factory in 2010, he was convinced that banks and investors would follow him in recapitalising the company. Founded in 1785, it is the oldest Swiss watch factory and one of the oldest Swiss watch brands. Despite the emotional appeal of the brand and Steinemann’s 30 years…

Swiss banks face US Libor lawsuit

This content was published on Mar 20, 2013 UBS was fined $1.5 billion (CHF1.4 billion) by various regulators last year after admitting its role in the global interest rate rigging scam. Credit Suisse is one of many banks also under investigation. Freddie Mac is suing the banks, plus the British Bankers’ Association that was responsible for overseeing Libor, after it was found that…

Cypriot rejection raises pressure on franc

This content was published on Mar 19, 2013 Cyprus needs to raise €5.8 billion (CHF7 billion) in order to secure a €10 billion bailout from the European Union. The controversial bank savings tax, voted down by Cypriot parliament on Tuesday, was part of a larger bailout package intended to raise those funds. It’s now likely Cyprus and the EU will go back to…

Staying ahead of the clean technology curve

This content was published on Mar 18, 2013 “A building can be compared with the human body,” according to Felix Gassmann, chief executive of Basel-based energy management company Sauter. “It has sensors that pick up signals, circuits which transmit impulses and first and foremost a brain that organises the information. With this brain – or mini-computer – temperature, humidity, lighting and electricity can…

Defensive Vasella regrets tarnished image

This content was published on Mar 15, 2013 “Vasella talks!” shrieked the frontpage headline of Swiss tabloid Blick on Friday, showing a picture of the 59-year-old doctor and businessman, suited and with briefcase, mingling unnoticed among commuters on New York’s Madison Avenue. The next two pages were devoted to an exclusive interview with the man who stood down as chairman of the Basel-based…

Battle against white collar crime rages on

This content was published on Mar 12, 2013 A survey of 500 small and medium sized enterprises (SMEs) and 93 bigger firms found that each criminal act in the last two years cost companies an average CHF360,000 ($380,000). The 133 cases that made it to court in the same period saw losses amounting to nearly CHF1 billion. Almost half of the larger firms…

First-ever demolition of a Swiss high-rise complete

This content was published on Mar 8, 2013 It was the first high-rise ever to be demolished in Switzerland. The demolition expert behind the operation said it went off without a hitch, with the explosives going off as planned and the 5,000 tons of concrete and steel building elements collapsing where they should have. After the dust cleared, the only damage was to…

Watchmakers pull out of business federation

This content was published on Feb 28, 2013 The watchmakers said they had decided on February 21 to leave the country’s leading business lobby group at the end of the year. For its part, Economiesuisse said it regrets the federation’s decision, but will continue constructive talks about future cooperation. The two organisations have been in disagreement over how much of a product is…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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UBS unimpressed with Facebook IPO repayment

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Free trade talks require watching and waiting

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Crowdfunding revives oldest Swiss watch factory

More

Swiss banks face US Libor lawsuit

More

Cypriot rejection raises pressure on franc

More

Staying ahead of the clean technology curve

More

Defensive Vasella regrets tarnished image

More

Battle against white collar crime rages on

More

First-ever demolition of a Swiss high-rise complete

More

Watchmakers pull out of business federation

Popular Stories

Most Discussed