Archive – Banking & Fintech

Has Switzerland saved banking secrecy?

This content was published on Oct 29, 2010 The impending negotiations of tax accords with Britain and Germany now appear to have lifted the pressure from the Swiss financial centre’s most prized asset. But to what extent has the threat really been lifted? Konrad Hummler, head of Switzerland’s oldest private bank Wegelin, believes that talks with the two powerful countries – which centre…

Swiss banking plans face tough scrutiny

This content was published on Oct 28, 2010 Both Britain and Germany have agreed to negotiate on a plan to tax at source assets which their citizens hold in Swiss banks. This would circumvent the requirement for an automatic exchange of information about bank clients, which is what the European Union is pushing for. If the negotiations are successful, the tax authorities would…

Study pinpoints access problems for localities

This content was published on Oct 28, 2010 The study by the Federal Spatial Development Office pinpoints disparities between localities and found that good access and transport were important to the attractiveness of a town or village. Overall there is a high level of accessibility in the country, but there are gaps between the public and private transport options, it said. The urban…

Mixed press reaction on Swiss deal with Germany

This content was published on Oct 28, 2010 Outgoing Swiss Finance Minister Hans-Rudolf Merz and his German counterpart Wolfgang Schäuble signed a joint declaration for formal talks on the issue in Bern on Wednesday. The Bund newspaper of Bern says the deal means that Merz left office “with a bang” but that Switzerland is paying a high price for the accord. “What has…

Swiss and Germans agree to talk on tax

This content was published on Oct 27, 2010 Finance Minister Hans-Rudolf Merz and his German counterpart, Wolfgang Schäuble, signed a joint declaration for formal talks on tax issues as well as a revised Double Taxation Agreement in line with international standards. At a news conference, Merz described the signing of the declaration as a “milestone”. The negotiations to begin early next year will…

Spanish coffers boosted by declared assets

This content was published on Oct 26, 2010 Customers from a Swiss branch of the bank HSBC came forward to declare money in the accounts after client data from the bank was stolen and the details passed onto investigators. The stolen data contained the names of 659 Spanish citizens who maintained a total of 3,000 Swiss accounts. Around 300 of the people involved…

BMW under investigation for unfair practices

This content was published on Oct 26, 2010 Comco says on its website that it launched its inquiry on Monday to determine whether the BMW group had violated competition laws by dividing up markets among its distributors. It says it has received information that the group had forbidden its distribution partners in the European Economic Area (EEA) – the European Union and Iceland,…

Wealthy return, but profits lost at UBS

This content was published on Oct 26, 2010 For the first time since the beginning of 2008, wealthy clients brought more assets to the bank than they withdrew. But the third quarter figures for 2010 also revealed a significant slide in group profits. UBS has been inching towards a sustainable recovery this year after losing some SFr50 billion ($51 billion) in financial crisis…

UBS reports third-quarter profit of SFr1.66bn

This content was published on Oct 26, 2010 Tuesday’s results beat analysts’ expectations for what had been predicted to be a weak quarter. The Zurich-based bank, which posted a net loss of SFr564 million (then $542 million) in the same period of 2009, also said it saw a net inflow of deposits from wealthy customers during the third quarter for the first time…

The rise and fall of a silk empire

This content was published on Oct 25, 2010 Silks from Gustav Zumsteg’s Abraham company in Zurich were loved by designers such as Yves Saint Laurent for being bold, beautiful and glamorous.

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Has Switzerland saved banking secrecy?

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Swiss banking plans face tough scrutiny

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Study pinpoints access problems for localities

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Mixed press reaction on Swiss deal with Germany

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Swiss and Germans agree to talk on tax

More

Spanish coffers boosted by declared assets

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BMW under investigation for unfair practices

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Wealthy return, but profits lost at UBS

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UBS reports third-quarter profit of SFr1.66bn

More

The rise and fall of a silk empire

Popular Stories

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