Archive – Banking & Fintech

Real estate prices at risk of bubble

This content was published on Nov 5, 2012 The UBS Swiss Real Estate Bubble Index shows that at the end of September real estate prices – fuelled by population growth and higher demand – entered the zone where they are at risk of a bubble for the first time since the 1990s. The bubble index had increased 0.20 to 1.02 points from the…

Employment is stable despite downsizing wave

This content was published on Nov 2, 2012 Sizeable cuts have also been made at pharmaceutical supplier Lonza, Swisscom and HP. But these aren’t signs of a crisis yet, since jobs have been created in other areas. (SF/swissinfo.ch)

Lonza job losses hit small town

This content was published on Oct 31, 2012 With 2,700 employees in Visp, which is home to slightly more than 7,000 people, Lonza is the region’s biggest employer. The reduction in staff numbers over two years will mainly be achieved through internal transfers, natural attrition, early retirements and the non-renewal of temporary contracts, Lonza said. A redundancy deal is being made available to…

Swiss businesses ready to enter Turkey

This content was published on Oct 31, 2012 Turkey is Europe’s sixth largest economy, yet it is often considered with ambivalence in Switzerland. On the one hand it is a beautiful and cheap vacation destination, with Istanbul as the cultural highlight of rich western Turkey. On the other it is the eastern Anatolian poorhouse of the country, where the buying power is barely…

Papers see UBS move as “unavoidable”

This content was published on Oct 31, 2012 Despite regretting the job losses – 10,000 positions are being cut, 2,500 of which in Switzerland – all newspapers agreed Ermotti was steering UBS in the right direction. “The penny has dropped” was the headline of the editorial in tabloid Blick. “The decision hurts, but it is right, unavoidable.” Talking about “a black day for…

Unions alarmed at massive UBS jobs cull

This content was published on Oct 30, 2012 Most of the redundancies will be felt in London, and to a lesser degree in New York, but some 2,500 jobs will go in Switzerland – more than 10 per cent of the total workforce in the bank’s home country. The Swiss Bank Employees Association gave a cautious welcome to news that UBS is slimming…

Swiss tourism cautiously upbeat

This content was published on Oct 30, 2012 The BAK Basel economic research institute forecasts a drop of 0.9 per cent in hotel overnights in the upcoming winter season, which runs from November to April. Stays by foreign tourists are likely to decline by 1.8 per cent, but this will be partly compensated by an increase in the number of Swiss tourists. Preliminary…

UBS announces up to 10,000 job cuts

This content was published on Oct 30, 2012 Switzerland’s biggest bank said that as part of the cost-cutting drive it “is likely to have a headcount of around 54,000” by 2015, down from its current 64,000 employees among 57 countries. Up to 2,500 employees would be affected in Switzerland, with the rest of the cuts taking place in Britain and the United States.…

Is Singapore the next big financial centre?

This content was published on Oct 29, 2012

Changing tax rules force private bankers East

This content was published on Oct 29, 2012 Having spent decades sheltering the undeclared assets of foreigners, the bubble has now burst – at least for European Union and United States clients who now face scrutiny from their tax authorities. But wealthy Asians have less to fear from the anti-tax evasion crusade. Private bankers in the Swiss market are frantically backpedalling as their…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Real estate prices at risk of bubble

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Employment is stable despite downsizing wave

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Lonza job losses hit small town

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Swiss businesses ready to enter Turkey

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Papers see UBS move as “unavoidable”

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Unions alarmed at massive UBS jobs cull

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Swiss tourism cautiously upbeat

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UBS announces up to 10,000 job cuts

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Is Singapore the next big financial centre?

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Changing tax rules force private bankers East

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