Archive - Banking & Fintech Archives - Page 733 of 1641

More

Concerns mount over economic growth

This content was published on Nov 28, 2008 The KOF Swiss Economic Institute in Zurich said in its prediction that Swiss economic growth was likely to be flat in the coming months. The indicator, which points to the economy’s potential performance in six months’ time, fell to – 0.05 in November from a downwardly revised 0.28 in October. This was the lowest since…

More

First Chinese bank comes to Switzerland

This content was published on Nov 28, 2008 The state-owned company is the first Chinese bank to expand into Switzerland, one of Europe’s most important financial centres. The Bank of China said it would open two subsidiaries in Geneva, one to offer private banking and the other for institutional wealth management. They will cater to both Chinese and international customers. The bank received…

More

Shareholders approve UBS bailout plan

This content was published on Nov 27, 2008 The bailout plan, announced last month, was approved at an extraordinary general meeting in Lucerne on Thursday. UBS will issue extra shares worth SFr36.5 million to help fund its obligations under the terms of the deal. The Swiss government surprised the market in October by announcing that the SNB would pump SFr6 billion of emergency…

More

Finding the balance between greed and altruism

This content was published on Nov 27, 2008 The Zurich University economist scooped the Swiss equivalent of the Nobel prize for his work that overturned the established principle that self-interest is the primary driver of human nature. He receives the award on Thursday. Fehr blames the slack regulatory framework rather than selfish individuals for causing the financial crisis and believes even greed can…

More

UBS toxic-asset fund will stay in Switzerland

This content was published on Nov 26, 2008 The government and central bank had come under fire in recent weeks for proposing that the fund, a critical vehicle for stabilising Switzerland’s largest bank, could be domiciled in an offshore account. The holding fund, called the SNB StabFund in German, is part of a government-sponsored rescue package that was first announced in mid-October as…

More

UBS clients plan defences in tax evasion probe

This content was published on Nov 26, 2008 The Swiss bank is under pressure to release records of suspected tax cheats. Some clients have hired lawyers to fight such a move while others appear willing to cut deals with the US tax agency. The US Department of Justice suspects UBS of helping some 20,000 US citizens illegally hide assets from the Internal Revenue…

More

Job losses at Swiss Life to reach 200

This content was published on Nov 26, 2008 Swiss Life said a third of the savings would be achieved through job losses, the rest through changing the division of responsibilities between head office and the business units and reducing the number of IT projects. The details come after chief executive Bruno Pfister revealed in a newspaper interview last week that job cuts would…

More

Leaders tackle economic crisis collectively

This content was published on Nov 25, 2008 At a yearly meeting among the heads of state in Rapperswil, in canton St Gallen, Swiss President Pascal Couchepin told reporters on Tuesday that European peace and stability should offer worldwide hope during times of insecurity. While forecasts look grim for the coming economic year, Couchepin said there is still a collective will to cooperate…

More

UBS executives forgo bonuses

This content was published on Nov 25, 2008 Two-thirds was due to Ospel, with the remainder going to former vice-president Stephan Häringer and former finance chief Marco Suter, confirmed a spokesman for the three on Tuesday. Earlier this month former chief executive Peter Wuffli said he would not take SFr12 million owed to him after he stepped down in 2007. The move followed…

Archive – Banking & Fintech

Popular Stories

Most Discussed

Archive – Banking & Fintech

More

Manager poll

More

Concerns mount over economic growth

More

First Chinese bank comes to Switzerland

More

Shareholders approve UBS bailout plan

More

Finding the balance between greed and altruism

More

UBS toxic-asset fund will stay in Switzerland

More

UBS clients plan defences in tax evasion probe

More

Job losses at Swiss Life to reach 200

More

Leaders tackle economic crisis collectively

More

UBS executives forgo bonuses

Popular Stories

Most Discussed