Archive – Banking & Fintech

UBS equities bosses resign over trader scandal

This content was published on Oct 5, 2011 UBS said in a statement on Wednesday that Carsten Kengeter, CEO of UBS Investment Bank, had accepted the resignations of François Gouws and Yassine Bouhara following the recent unauthorised trading incident. “Their resignations come as they assume overall responsibility for the effective management of the equities business,” UBS said. The bank said it would also…

Tax evasion cloud over Asia refuses to budge

This content was published on Oct 5, 2011 But suspicions linger that some private banks are redirecting the illicit assets of tax evaders, despite claiming that they are setting up business in Singapore and Hong Kong to tap into local wealth. A private bankers’ summit in Zurich last week heard that a “flood” of assets had moved to Asia since the implementation of…

Eurozone bonds seen as a mixed blessing

This content was published on Oct 4, 2011 But as Klaus Neusser, a professor of economics at Bern University, explains to swissinfo.ch, while they would benefit indebted countries, states with a healthy financial system would find themselves footing the bill. Like all bonds, they would be a way to raise new funds to get rid of the debt facing some countries. The idea…

UBS expects profit despite rogue trader losses

This content was published on Oct 4, 2011 The result includes the $2.3 billion (SFr 2.1 billion) loss resulting from “the unauthorised trading incident” and approximately SFr0.4 billion of restructuring charges associated with the firm’s cost reduction programme. In a statement, the bank said positive net new money in its wealth management businesses was expected to be broadly similar to the second quarter…

Swiss seek fresh impetus from India trade talks

This content was published on Oct 4, 2011 Indian President Pratibha Patil and a 45-strong business delegation are visiting Switzerland for two days of talks on boosting bilateral relations, including financial and research cooperation. India is among the top four trading partners of Switzerland in Asia. The trade volume between the two countries stood at SFr3.6 billion ($3.95 billion) last year. In her…

Newspapers will die out by 2040, says UN expert

This content was published on Oct 3, 2011 Francis Gurry, who heads the Geneva-based World Intellectual Property Organization (Wipo), told La Tribune de Genève that “in a few years, there will no longer be printed newspapers as we know them today”. “It’s an evolution – it’s neither good nor bad – there are studies showing that [newspapers] will disappear by 2040. In the…

Pride returns a decade after Swissair collapse

This content was published on Oct 2, 2011 Ten years ago, on October 2, the Swiss carrier collapsed under a mountain of debts, sparking national anger and soul searching. Its successor, Swiss, endured a rocky early ride, but is now tasting success after being rescued by Germany’s Lufthansa group. Under the wing of Lufthansa, Swiss survived the financial crisis and boom in oil…

Nespresso-like capsules removed from shelves

This content was published on Oct 1, 2011 The move comes after Vaud’s cantonal court prohibited the sale of the capsules on Friday. Media Saturn, which is a German company, removed the capsules from the shelves of its 23 Swiss stores on Saturday. The capsules in question are produced by the Fribourg-based Ethical Coffee Company (ECC) and they are cheaper than the Nespresso…

End of a myth

This content was published on Oct 1, 2011 The grounding of Swissair on October 2, 2001, was the end of national myth and a dark day in Swiss aviation history. Ten years later, Swiss International Airlines has taken over the mantle of national carrier and soared back into profits under the aegis of Germany’s Lufthansa.

Swissair collapse still reverberates

This content was published on Sep 30, 2011 But neither the board nor the airline’s management have been found guilty of mismanagement, even though claims worth SFr3 billion ($3.3 billion) are still pending against them. The months before the grounding were chaotic. The drama had been slowly unfolding, but nobody really believed that the company would suffer a fatal blow. However on the afternoon…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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UBS equities bosses resign over trader scandal

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Tax evasion cloud over Asia refuses to budge

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Eurozone bonds seen as a mixed blessing

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UBS expects profit despite rogue trader losses

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Swiss seek fresh impetus from India trade talks

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Newspapers will die out by 2040, says UN expert

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Pride returns a decade after Swissair collapse

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Nespresso-like capsules removed from shelves

More

End of a myth

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Swissair collapse still reverberates

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