Archive – Banking & Fintech

Pharma industry braces for some cliff diving

This content was published on Jan 18, 2012 Anticipating this so-called “patent cliff”, big pharma has already begun to slim down to maintain its comfortable margins. According to a report by the Geneva private bank Pictet, until 2013 growth in the global pharmaceutical sector will struggle to exceed four per cent. The main reason is the patent cliff: the impending expiry of a…

UBS fined over securities pricing

This content was published on Jan 17, 2012 The US Securities and Exchange Commission charged UBS’s Global Asset Management arm on Tuesday with failing to properly price securities in three mutual funds that it managed, resulting in a misstatement to investors of the net asset values of those funds. The SEC determined that during a two-week period the UBS investment arm did not…

Davos through the years

This content was published on Jan 17, 2012 The World Economic Forum was founded in 1971 by Klaus Schwab, a business professor in Switzerland. Beyond meetings, the Forum produces a series of research reports and engages its members in sector specific initiatives. It is funded by its 1,000 member companies. The typical member company has more than $5 billion in turnover.

Tobin or not Tobin

This content was published on Jan 17, 2012 But at what political and financial cost? Critics claim any government or bloc that unilaterally agreed to such a tax would see capital flee into more welcoming markets before the ink had dried. Bankers in Switzerland and Britain, for example, would rub their hands if the European Union introduced a Tobin tax. Is the issue…

SGS builds profit and revenue

This content was published on Jan 17, 2012 The group, which tests consumer products, monitors the transport of goods worldwide and checks imports for governments, posted revenue growth of 13.7 per cent to SFr4.8 billion. The company notes that the figures are calculated on a constant currency basis. Constant-currency information compares results between periods as if exchange rates had remained constant period-over-period. Without…

Banking insolvency changes put forward

This content was published on Jan 16, 2012 Finma’s recommendations would make it possible in insolvency cases to restructure not only an entire bank but for individual essential banking services to be transferred to other legal entities “to protect the financial system and the economy”. The revisions to the 2005 banking insolvency law would lay down the statutory rules on restructuring banks and…

Alleged data thief accuses party lawyer

This content was published on Jan 16, 2012 The former Bank Sarasin employee, who has admitted passing confidential information about former SNB chairman Philipp Hildebrand to the lawyer, a member of the Thurgau cantonal parliament, has asked for criminal charges to be laid against him. The lawyer’s lawyer confirmed reports in Sunday newspapers in which the bank IT worker said he had visited…

Swiss to be big winners from future Tobin tax

This content was published on Jan 16, 2012 If the European Commission proposal to tax stock, bond and derivatives trades is introduced, Switzerland would also benefit hugely, they add. The levy may raise billions of dollars in badly needed revenue. But the concept has drawn fierce criticism. Forty years ago American Nobel laureate James Tobin proposed a tax on currency transactions to discourage…

Growth in Zurich financial sector to decline

This content was published on Jan 13, 2012 Jobs in the banking industry are expected to suffer most in the coming years with insurance companies already having undertaken the necessary restructuring, researchers said. The survey by economic researchers BAK Basel, which was mandated by the Zurich Office for Economy and Labour, examined the importance of the Zurich financial sector on a regional, national and…

Swiss timekeepers defy recession

This content was published on Jan 13, 2012 According to figures published by the Federation of the Swiss Watch Industry, average annual growth for the industry for 2011 reached 19.1 per cent following a spectacular 16 per cent November increase in sales. That is over SFr2 billion ($2.14 billion) for the month, or nearly SFr18 billion for the year, with Christmas shopping not…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Pharma industry braces for some cliff diving

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UBS fined over securities pricing

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Davos through the years

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Tobin or not Tobin

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SGS builds profit and revenue

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Banking insolvency changes put forward

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Alleged data thief accuses party lawyer

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Swiss to be big winners from future Tobin tax

More

Growth in Zurich financial sector to decline

More

Swiss timekeepers defy recession

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