Archive – Banking & Fintech

Press criticise government role in UBS crisis

This content was published on Jun 1, 2010 However, many commentators didn’t think the report went far enough and are now calling for a parliamentary investigation to shed light on the role of UBS in the mess. For the Tages-Anzeiger the report painted “a picture of failure” of the government as a body and Finance Minister Hans-Rudolf Merz in particular. Merz had informed…

Number of foreign bosses stagnates

This content was published on May 31, 2010 The only exception are companies on the Swiss stock exchange – Switzerland’s leading firms – which still favour German or Americans in charge. According to the Zurich-based report, by Guido Schilling personnel consultants, the 121 largest companies in the country have 44 per cent foreigners in key management. This stood at 45 per cent last…

UBS deal takes centre stage in parliament

This content was published on May 31, 2010 Other hot potatoes include the initiative to deport foreign criminals, proposed by the rightwing Swiss People’s Party, and the question of managers’ salaries. On August 19, 2009, Switzerland and the United States reached a deal in a tax case that lifted the threat of crippling legal action against UBS but forced the bank to hand…

Bankruptcy proceedings rise

This content was published on May 31, 2010 The number of proceedings opened against businesses or individuals rose to around 11,600, up eight per cent on 2008 – a “marked increase”, the Statistics Office said on Monday. In addition, 2.5 million formal notices to pay were issued, just over two per cent more than in the previous year. The number of ordinary and…

Swiss planes banned from Russian airspace

This content was published on May 30, 2010 A spokesman for the airline confirmed a report in the NZZ am Sonntag newspaper that Swiss hasn’t been able to fly through Russia since the introduction of the summer flight plan in March. Flights to Shanghai and Hong Kong have been affected. They now have to fly around southern Russia, resulting in longer journeys and…

Perfume makers face fines for sniffing profits

This content was published on May 28, 2010 An 18-month-long investigation by the Federal Competition Commission said fines would range up to SFr25.5 million ($22 million) and would hit the majority of members of Ascopa, a Geneva-based association of manufacturers, importers and suppliers of perfumes and make-up. Those likely to suffer fines include Chanel Genève, Clarins, L’Oréal Produits de luxe Suisse, Christian Dior…

Foreign bank profits drop

This content was published on May 26, 2010 The group, which represents around 45 per cent of banks in Switzerland’s financial centre, put the loss down to write-offs and declining interest rates and commission. The number of employees also dropped, by eight per cent to 20,000, the Association of Foreign Banks in Switzerland reported in Zurich on Wednesday. Although the amount of private…

OECD optimistic about economic growth

This content was published on May 26, 2010 The OECD revised its predictions for industrialised countries for 2010 and 2011. In Switzerland’s case, it expects growth of 1.8 and 2.2 per cent, up from its previous forecast of 0.9 and 1.9 per cent. The Paris-based institution said Gross Domestic Product (GDP) in industrialised countries is projected to rise by 2.7 per cent this…

Swiss cities rated top for life quality

This content was published on May 26, 2010 Overall, European cities dominated, with Vienna taking the number one spot for the second year in a row. Zurich and Geneva were placed two and three. Bern took ninth place. The survey looked at 221 cities in all. Also making it into first five were Vancouver in Canada and Auckland in New Zealand. Baghdad in…

Seed march takes biodiversity on tour

This content was published on May 25, 2010 The NGO Swissaid has organised a “seed march” that will make stops in a number of Swiss towns over the next two weeks. At the centre of the campaign are farmers and other experts from Guinea-Bissau, India, Nicaragua and Niger. In a series of events held jointly with Swiss specialists they will share with the…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Press criticise government role in UBS crisis

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Number of foreign bosses stagnates

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UBS deal takes centre stage in parliament

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Bankruptcy proceedings rise

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Swiss planes banned from Russian airspace

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Perfume makers face fines for sniffing profits

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Foreign bank profits drop

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OECD optimistic about economic growth

More

Swiss cities rated top for life quality

More

Seed march takes biodiversity on tour

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