Archive – Banking & Fintech

Can we justify luxury in today’s world?

This content was published on Nov 16, 2011 The sale shows that while some countries are facing bankruptcy, occupations are taking place in protest at the global financial system and firms are laying people off, luxury continues to fascinate and find takers. Is this normal, disturbing, disgraceful? What is your reaction?

Yellow diamond fetches SFr11.28 million at auction

This content was published on Nov 15, 2011 The pear-shaped diamond was sold by New York-based company Cora International, which discovered the rare jewel in South Africa last year. It was bought by a telephone bidder. The diamond’s value had been estimated at $11 million to $15 million. It was displayed on an international tour before going under the hammer. Gemologists rate the 110.3…

Swiss firms also face price pressures at home

This content was published on Nov 15, 2011 Many Swiss firms that export goods to the eurozone also supply parts domestically. The mechanical and electrical engineering sector is bracing itself for a flood of cheaper imports as foreign competitors take advantage of exchange rates. While the expected round of price cutting would benefit buyers of such products – and perhaps also consumers –…

Swiss banker abandons chairman ambition

This content was published on Nov 15, 2011 The move ended a month-long battle for the future leadership of the bank. The chairman role will be now filled by Paul Achleitner, German insurer Allianz’s chief financial officer, Deutsche Bank said. Ackermann, who also chairs the global banking lobby group Institute of International Finance, steps down as CEO in May 2012 after nine years…

Credit Suisse to integrate Clariden Leu

This content was published on Nov 15, 2011 The Swiss bank said the step was part of plans announced earlier this month to increase the contribution of its private bank to group pre-tax income by SFr800 million by 2014. It said that unspecified job losses related to the move were part of 1,500 job cuts announced across the group on November 1. “Credit…

Raising exchange rate seen as risky strategy

This content was published on Nov 15, 2011 Swiss Economics Minister Johann Schneider-Ammann has warned that the strong franc could cost 40,000 Swiss jobs. But some observers fear that raising the exchange rate ceiling could chain the central bank to potentially damaging consequences. The euro has been in free fall against the franc since the financial crisis three years ago. Fears that the…

UBS confirms Ermotti as CEO

This content was published on Nov 15, 2011 It also named former German Federal Bank president Axel Weber as its chairman from next May, replacing Kaspar Villiger, one year earlier than planned. The appointments fill a leadership vacuum after former CEO Oswald Gruebel quit the Swiss bank in September following a $2 billion (SFr1.82 billion) rogue trading scandal. “The nomination of Mr Weber…

Swiss “eat too much salt”

This content was published on Nov 14, 2011 The study, published on Monday, was carried out as part of the health office’s Salt Strategy 2008-2012, which aims to reduce salt consumption and is being implemented as one aspect of the National Nutrition and Physical Activity Programme 2008-2012. Lausanne University Hospital asked some 1,500 people about their diets and tested them for hypertension. The…

Read more: Swiss “eat too much salt”

Julius Bär bank sheds jobs

This content was published on Nov 14, 2011 All sectors will be affected by the programme to be effective by the middle of next year, according to a company statement. The bank hopes to achieve cost reductions of SFr40 million ($44.4 million) annually. Julius Bär already implemented similar measures in February and June. The Zurich-based bank, which reported SFr166 billion assets under management…

Coop to introduce external controls on meat

This content was published on Nov 13, 2011 Coop boss Joos Sutter told the Sonntags Blick newspaper that from the beginning of next year an independent quality control company would make unannounced visits to the butcher’s sections of its supermarkets. The move is in response to revelations by a German-language consumer television programme, Kassensturz, that packaged meat past its use-by date was routinely…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Can we justify luxury in today’s world?

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Yellow diamond fetches SFr11.28 million at auction

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Swiss firms also face price pressures at home

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Swiss banker abandons chairman ambition

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Credit Suisse to integrate Clariden Leu

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Raising exchange rate seen as risky strategy

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UBS confirms Ermotti as CEO

More

Swiss “eat too much salt”

More

Julius Bär bank sheds jobs

More

Coop to introduce external controls on meat

Popular Stories

Most Discussed