Archive – Banking & Fintech

Wood chips replace grit and salt on icy roads

This content was published on Jan 12, 2010 Specially prepared wood chips, marketed under the name Stop Gliss Bio, are claimed by the maker to be both more efficient and more environmentally friendly than either the salt or the gravel traditionally used for de-icing. The chips were pioneered two years ago in the western Swiss town of La Chaux-de-Fonds, which, at an altitude…

Minister supports beleaguered Post head

This content was published on Jan 11, 2010 Béglé’s controversial strategy for promoting business abroad had been approved by the government, Leuenberger told a media conference on Monday. In appointing Béglé at the end of 2008, the government had purposely decided on a change, he said. The minister was speaking to journalists after a meeting with the Senate telecommunications commission at which he…

Swiss ship shakes off pirates

This content was published on Jan 11, 2010 The Turicum was five nautical miles outside the zone covered by the Atalanta international task force set up to combat Somali pirates when it was approached last Wednesday, an official said. The ship was harassed for about seven hours, as pirates in three speed boats manoeuvred in an attempt to board. None of the 20…

Off court

This content was published on Jan 11, 2010

Credit Suisse appoints American to new post

This content was published on Jan 11, 2010 Thomas-Graham, aged 46, who will report to the Zurich-based bank’s chief executive, Brady Dougan, brings Credit Suisse’s top management to 13. Thomas-Graham, who has worked in retail, media and finance, is a former president and CEO of financial news broadcaster CNBC, and was most recently an executive at Angelo, Gordon & Co., a New York-based…

Unlawful UBS data deal adds to legal headache

This content was published on Jan 11, 2010 Last week’s decision against Switzerland’s financial regulator has led to speculation about possible legal actions from disgruntled US clients of UBS against the state and even the bank itself. The federal administrative court said on Friday that the Swiss Financial and Market Supervisory Authority (Finma) had acted illegally when it transferred the detail of 285…

Hands off pension fund, say unions

This content was published on Jan 11, 2010 Swiss voters will go to the polls on March 7 to accept or reject a proposal to lower the rate used to calculate payments of the occupational pension scheme. The cut of about 0.6 per cent within a six year period would mean pensioners would receive up to SFr150 ($147) less a month, said union…

Snow-hit Geneva airport reopens

This content was published on Jan 10, 2010 Flights started again at midday, spokesman Bertrand Stämpfli told Swiss radio. It is the first time in 25 years that the airport had to be closed for such a long time, he added. Around ten centimetres of snow had to be removed. As a result, 70 flights were not able to take place during the…

UBS whistle-blower begins jail term in US

This content was published on Jan 8, 2010 Bradley Birkenfeld, who handled wealthy American UBS clients from 2001 to 2006, pleaded guilty in June 2008 to a single count of conspiracy to defraud the US and was sentenced to more than three years in prison. The 44 year old said his cooperation exposed “the largest tax fraud in the world” and should have…

Court rules UBS data transfer to US illegal

This content was published on Jan 8, 2010 The federal administrative court said the Swiss Financial and Market Supervisory Authority (Finma) abused its power when it ordered that details of 285 account holders suspected of tax evasion in the US be sent to Washington. “Finma could not base its decision on emergency rights enshrined in the constitution,” a statement said on Friday. The…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Wood chips replace grit and salt on icy roads

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Minister supports beleaguered Post head

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Swiss ship shakes off pirates

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Off court

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Credit Suisse appoints American to new post

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Unlawful UBS data deal adds to legal headache

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Hands off pension fund, say unions

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Snow-hit Geneva airport reopens

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UBS whistle-blower begins jail term in US

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Court rules UBS data transfer to US illegal

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