Archive – Banking & Fintech

Migrant workers change face of Switzerland

This content was published on Oct 6, 2010 However, unions say that the study, which shows the new breed of highly skilled immigrant employees bringing net gains to Zurich and eastern Switzerland, only paints part of the picture. The Immigration 2030 report by the Zurich Cantonal Bank paints a generally positive picture of migrant employees since Switzerland lifted barriers to European Union workers…

“Fair taxes” are unfair for competitiveness

This content was published on Oct 6, 2010 Finance Minister Hans-Rudolf Merz said that the “fair tax” initiative by the Social Democrats would make Switzerland a less attractive location for doing business as well as reducing tax sovereignty of the cantons. This, Merz added, would lead to job losses and lower living standards. Swiss voters will decide on November 28 whether to accept…

Kraft opens new centre near Nestlé

This content was published on Oct 5, 2010 “This is our only research and development centre in Switzerland,” Laurie Guzzinati, a company spokeswoman said. The SFr13.5 million ($13.95 million) office is located in Eysins, canton Vaud, about 60km away from one of its main competitors, Nestlé. There are currently 35 workers at the Kraft facility, but the number should increase to 60 in…

Drug discontinuation costs Novartis $590m

This content was published on Oct 5, 2010 But it added that the charge would be partially offset by a $390 million gain to be booked in the fourth quarter from its divestment of overactive bladder treatment Enablex to Warner Chilcott. Novartis said in a statement it was stopping Mycograb, an antifungal agent, resulting in a charge of about $360 million. The Basel-based…

Swiss banking regulation leads the field

This content was published on Oct 5, 2010 The G20 meeting of the world’s most influential nations has yet to agree on the Basel III proposals, let alone impose more stringent rules to protect economies from collapsing banks. Individual countries are also plotting their own regulatory course. In the midst of the uncertainty, Swiss banks UBS and Credit Suisse say they can meet…

Swiss banking regulation leads the field

This content was published on Oct 4, 2010 The G20 meeting of the world’s most influential nations has yet to agree on the Basel III proposals, let alone impose more stringent rules to protect economies from collapsing banks. Individual countries are also plotting their own regulatory course. In the midst of the uncertainty, Swiss banks UBS and Credit Suisse say they can meet…

Swiss banks get stricter rules than Basel III

This content was published on Oct 4, 2010 The government’s “too big to fail” commission said on Monday that the move would limit the risk that a bank failure would drag down the economy. The commission was set up in the wake of the financial crisis and the government bail-out of the troubled bank UBS in 2008. Made up of top regulators, bank…

Rich rewards expected from China trade treaty

This content was published on Oct 1, 2010 A feasibility study suggests that Swiss gross domestic product (GDP) could be boosted by 0.23 per cent and industry could make annual savings of around SFr290 million ($297 million) as trade barriers are lifted. Encouraged by the positive findings of the study, which suggested mutual benefits for both partners, the Swiss cabinet on Friday officially…

Canada probes HSBC bank accounts in Switzerland

This content was published on Oct 1, 2010 Authorities are looking into accounts obtained from a former HSBC worker who allegedly stole the records from the bank and handed them over to investigators. Canadian tax authorities are working with the French investigators. “This is just another example of how our government is taking action to crack down on people who unfairly exploit offshore…

Switzerland is a “star of the recovery show”

This content was published on Oct 1, 2010 The academic, who teaches at Harvard and the London School of Economics, was in Geneva on Thursday for the presentation of the Latsis Prize, one of the most renowned research accolades in Switzerland. Ferguson, who describes himself as a “liberal fundamentalist”, gave a talk at Geneva University on “Power and Finance – the political consequences…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Migrant workers change face of Switzerland

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“Fair taxes” are unfair for competitiveness

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Kraft opens new centre near Nestlé

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Drug discontinuation costs Novartis $590m

More

Swiss banking regulation leads the field

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Swiss banking regulation leads the field

More

Swiss banks get stricter rules than Basel III

More

Rich rewards expected from China trade treaty

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Canada probes HSBC bank accounts in Switzerland

More

Switzerland is a “star of the recovery show”

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