Archive – Banking & Fintech

Bourse concentrates Swiss share trading

This content was published on Nov 11, 2008 SWX Europe (formerly virt-x) is an electronic cross-border share-trading platform that was originally founded in 2001 and taken over by the Swiss a year later. The company that runs the Zurich bourse – SIX Swiss Exchange – said on Tuesday that the move aimed to harmonise the regulatory environment for all Swiss stocks and improve…

Obama must manage “complex” economic situation

This content was published on Nov 10, 2008 Geneva economics professor Cédric Tille tells swissinfo that Obama was elected to defend the interests of the US and this he will do, while favouring a more multilateral approach than the outgoing administration. Tille is a former staff member of the US Federal Reserve and a professor at the Graduate Institute of International and Development…

Few in mood for Christmas shopping

This content was published on Nov 10, 2008 The index sank in October to minus 27 points, down from minus 17 in July. The October value, Seco said, was below the long-term average (1972-2008) for that month by approximately minus eight points. Two of the three sub indexes Seco uses to judge consumer confidence fell substantially in the last quarter. Swiss opinion regarding…

Franc loses appeal for European homebuyers

This content was published on Nov 10, 2008 The practice of taking out franc loans has been rife in countries such as Hungary and Poland where interest rates are traditionally higher and the local currencies are relatively unstable. It is estimated that more than half of mortgages taken out in Poland in recent years have been in francs while the vast majority of…

Recession possible, economics minister says

This content was published on Nov 9, 2008 In an interview with Sunday’s SonntagsBlick newspaper, Leuthard said the country could experience two consecutive quarters of negative growth. In mid-September, Leuthard said there was “zero” risk of a recession. The economics minister also indicated that unemployment would not rise rapidly and that immigration would decrease but added that there would be more temporary jobs…

Former UBS chief turns down SFr12 million

This content was published on Nov 9, 2008 Peter Wuffli told Sunday’s NZZ am Sonntag newspaper that he voluntarily relinquished the payment as a sign of solidarity with the bank’s leadership and staff. “High salaries for the top people in a company with serious imbalances are not justified,” the 51-year-old banker said. Wuffli said he understood the outrage over high salaries and added…

Merz urges bank salary reform

This content was published on Nov 8, 2008 “There are things happening that are unacceptable,” he said in an interview with Saturday’s Neue Zürcher Zeitung newspaper. “The basic idea of the bonus has been partially perverted.” “Banks must accept that the state will intervene,” he said. “Where bonuses are clearly unfair on the grounds of mismanagement, then the banks have to take action,”…

Interest rate cut “not too late”

This content was published on Nov 7, 2008 The SNB slashed rates by 50 basis points on Thursday following a cut of 0.25 per cent last month. The reason given was that the outlook for the global economy had worsened in recent weeks. The SNB once again coordinated its move with the European Central Bank and individual countries. The central bank lowered the…

Stock exchange ends week up

This content was published on Nov 7, 2008 The Swiss Market Index (SMI), which tracks 20 leading blue-chip companies, closed up 1.41 per cent on Friday after fluctuating during the day. The broader indices also rose. The biggest gainer was the high-tech industrial group OC Oerlikon, up 9.3 per cent. Nestlé, the two pharmaceuticals Novartis and Roche, and most insurance companies also did…

Lift manufacturer fined

This content was published on Nov 7, 2008 A total of five lift manufacturers operating in Austria were found guilty of colluding over the allocation of projects, prices and sensitive market information. The secret agreements had operated from the 1980s until 2004. In addition to Lucerne-based Schindler those involved include two companies – Doppelmayr and Haushahn – which have since been taken over…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Bourse concentrates Swiss share trading

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Obama must manage “complex” economic situation

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Few in mood for Christmas shopping

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Franc loses appeal for European homebuyers

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Recession possible, economics minister says

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Former UBS chief turns down SFr12 million

More

Merz urges bank salary reform

More

Interest rate cut “not too late”

More

Stock exchange ends week up

More

Lift manufacturer fined

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