Archive – Banking & Fintech

Italians to review stolen HSBC data

This content was published on Apr 13, 2010 Eric de Montgolfier, a prosecutor in Nice, on Tuesday said authorities in Turin were interested in the data and had submitted a request seeking help gathering evidence. The files, taken by a former IT employee around three years ago, allegedly contain information about people hiding assets from tax collectors. France’s acquisition of the information infuriated…

Ineos eyes Vaud for lower taxes

This content was published on Apr 13, 2010 “It’s likely that it will be Vaud,” spokesman Richard Longden told Swiss public radio on Tuesday. Day-to-day operations in Britain and around the world would not be affected, the company added. The number-three global producer announced in early March it was considering the move and received approval to do so on March 24. The move…

UBS expects SFr2.5 billion pre-tax profit

This content was published on Apr 12, 2010 The announcement comes two days before what is expected to be a stormy annual shareholders’ meeting. Some activist investors, including large pension funds, are preparing to reject a UBS bonus system and plans to clear management of responsibilities for the financial crisis the bank has faced. In a surprise interim statement, UBS estimated net outflows…

UBS Ospel “gamble” may backfire

This content was published on Apr 12, 2010 Former chairman Marcel Ospel is among a host of directors and executives blamed by many for leading the bank into trouble. Their leadership has led to questions about possible civil or criminal liability. UBS was the worst-hit European bank from the subprime mortgage-induced financial crisis. It was also forced to hand over confidential client data…

Ex-Sex Pistols manager dies in Swiss clinic

This content was published on Apr 9, 2010 According to relatives, McLaren was being treated there for an aggressive form of cancer. They declined to say in which hospital. “He was the original punk rocker and revolutionised the world,” said his son, Joe Corre. In a brief statement on the band’s webpage, Johnny Rotten wrote, “For me Malc was always entertaining, and I…

Novartis sex discrimination trial begins

This content was published on Apr 8, 2010 A lawyer for the plaintiffs on Thursday acknowledged to a jury at a federal court in Manhattan the Swiss company has extensive written materials warning against discrimination but accused it of “saying one thing on paper but another thing in real life”. Attorney Katherine Kimpel said women hired since 2002 at Novartis’s United States arm…

Credit Suisse stung by British finance regulator

This content was published on Apr 8, 2010 The Swiss bank was ordered to pay £1.75 million (SFr2.86 million) as the British authorities step up efforts to clamp down on market abuse. A privately-held market trader, Getco and an agency broker, Nomura, were also found to have committed multiple breaches, according to the FSA. It added that all three firms had ignored repeated…

Solar Impulse completes first flight

This content was published on Apr 7, 2010 The Solar Impulse plane landed after 1.5 hours in the air near its base, a military airfield at Payerne in western Switzerland. Piccard said the aim of the two-hour test flight was to examine if the plane with the wingspan of a Boeing 747 and the weight of a small car could keep a straight…

Easter is over… but try telling the hens

This content was published on Apr 7, 2010 With Easter over, the appetite for eggs has returned to normal and demand has dwindled – resulting in a surplus. The problem is to some extent solved with the slaughtering of more hens now than is normal. The government has also lent a hand by contributing SFr2 million ($1.87 million) to help bring the market…

Oil and grain keep flowing through Switzerland

This content was published on Apr 6, 2010 Last year, trading in commodities such as oil, grain and electricity contributed around two per cent of the total Swiss economic output – about the same as tourism. But the secretive sector is undergoing changes. Switzerland has long been a global centre in the commodities trading world thanks to its central European location, strong banking…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Italians to review stolen HSBC data

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Ineos eyes Vaud for lower taxes

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UBS expects SFr2.5 billion pre-tax profit

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UBS Ospel “gamble” may backfire

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Ex-Sex Pistols manager dies in Swiss clinic

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Novartis sex discrimination trial begins

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Credit Suisse stung by British finance regulator

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Solar Impulse completes first flight

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Easter is over… but try telling the hens

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Oil and grain keep flowing through Switzerland

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