Archive – Banking & Fintech

Ex-SNB chief warns of tax transparency changes

This content was published on Aug 29, 2012 “Switzerland and its banking system should assume that in five to ten years when a foreign client comes and opens a Swiss bank account, his name, the date he opens the account and the bank’s name will be automatically transferred to his country’s treasury,” said Hildebrand. “The Swiss fiscal refuge is over.” Hildebrand, who resigned…

Legal trade in small arms doubles in six years

This content was published on Aug 28, 2012 This figure, released on Monday at the United Nations in New York, is more than double the previous estimate from 2006. According to the Small Arms Survey (SAS), the increase from the previous estimate of about $4 billion is due to various factors. Two important sources are large-scale government spending by states involved in the…

Swiss quality leveraged at highest altitudes

This content was published on Aug 28, 2012 The world was reminded of the dangers of mountain climbing this summer when an avalanche on a peak in the Mont Blanc massif buried several climbers, including guides from Switzerland. Nine people died, including one Swiss, and several others were injured. The accident also pointed out the mobility of guides, some of whom had travelled…

Mortgage buffer ruled out amid slowing market

This content was published on Aug 27, 2012 Low interest rates have contributed to a boom in real estate prices, especially in the hotspot Zurich and Geneva markets. To rein in a possible credit bubble, the SNB announced the creation of new capital buffer requirements in June. Under the new regulation, banks could be ordered by the government to set aside more assets…

Data protection watchdog supports bank staff

This content was published on Aug 22, 2012 Hanspeter Thür has written to several banks to determine what data has already been transferred to the US Department of Justice and how they justified including telephone numbers and written correspondence. “We have informed them that we are opening an analysis to verify the legality of the data transmitted to the US,” Thür told the…

“Glenstrata” deal wobbling as profits tumble

This content was published on Aug 21, 2012 The main sticking point in the $90 billion (SFr87.5 billion) deal to create the world’s largest single commodities entity – and the issue that forced a postponement of the vote from July – is Glencore’s valuation of Xstrata, in which it already has a 34 per cent stake. Glencore has offered 2.8 of its shares…

Border towns feel squeeze from trucks and shoppers

This content was published on Aug 19, 2012 The weak euro contributed to a 1.7 per cent fall in turnover last year with Swiss shoppers spending some SFr5 billion ($5.1 billion) on cheaper goods across the borders. The number of consumers claiming back value added tax rose by up to 41 per cent in the first six months of this year in some…

UBS chairman denies tax evasion claims

This content was published on Aug 17, 2012 “UBS does not help any of its clients avoid their tax obligations,” Weber said. “Anyone in violation will be severely sanctioned,” he added. “I have zero tolerance on this point.” The interview follows recent allegations that UBS employees were aiding their clients in transferring funds out of Swiss banks and into accounts in Asia in…

HSBC transfers more data to the US

This content was published on Aug 15, 2012 A spokesperson confirmed a report in Tuesday’s edition of the Geneva-based Le Temps newspaper. He added all affected staff had been informed and that no client data had been handed over. The bank employees, who dealt with wealthy US clients, apparently had no possibility to prevent the transfer. The spokesman said the bank had reduced…

Chocolate health claims set pulses racing

This content was published on Aug 15, 2012 The health claims surrounding chocolate are many and various, bombarding consumers with “evidence” that it can help prevent cancer, cure coughs, stave off heart disease, produce a general sense of well-being and even stimulate flagging sex lives. Many of these claims are yet to be proven and some have been scientifically dismissed as urban myths.…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Ex-SNB chief warns of tax transparency changes

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Legal trade in small arms doubles in six years

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Swiss quality leveraged at highest altitudes

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Mortgage buffer ruled out amid slowing market

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Data protection watchdog supports bank staff

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“Glenstrata” deal wobbling as profits tumble

More

Border towns feel squeeze from trucks and shoppers

More

UBS chairman denies tax evasion claims

More

HSBC transfers more data to the US

More

Chocolate health claims set pulses racing

Popular Stories

Most Discussed