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Libor faces overhaul after rigging scandal

This content was published on Sep 8, 2012 Several alternatives have been put forward to replace the discredited London Interbank Offered Rate that is used as a reference for trillions of dollars of mortgages, credit cards, business loans and complex financial deals. United States Federal Reserve chairman Ben Bernanke and Bank of Canada governor Mark Carney – who is also chairman of the…

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Executive pay plunges for banks, not for others

This content was published on Sep 7, 2012 Forty-nine of the 100 biggest Swiss companies also put their managers’ salaries to a shareholder vote, four more than did so in 2010. The annual report from the Geneva-based foundation says more self-regulation is still needed, despite the “positive impact of these votes on the transparency and structure of board and executive remuneration.” The management…

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Turning around the Emmental cheese industry

This content was published on Sep 7, 2012 The branch voted to reintroduce quotas this summer after overproduction forced down prices, threatening the survival of the remaining traditional Emmental cheesemaking plants in Switzerland. The branch umbrella organisation, Emmentaler Switzerland, believes the quota system will only work if it is imposed across the whole industry, and this can only be done with the government’s…

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The cheese that appeals to foreign palates

This content was published on Sep 7, 2012

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Only the best will do

This content was published on Sep 6, 2012 The offices opened for business in 1912 and are rumoured to hold the country’s gold reserves in their basement. But decisions are taken in Zurich, Switzerland’s main financial centre, where the three-member governing board works at the other headquarters. A recently published book about the bank’s history in Bern provides some glimpses of little-known facts.

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Exchange rate controls could stay “for years”

This content was published on Sep 6, 2012 On September 6, 2011, the central bank imposed a SFr1.20 exchange rate floor against the euro to halt the rapid rise of the franc, which was threatening price stability and exporters. The SNB has recently been forced to buy up vast quantities of euros to defend its policy. One year on from the SNB’s watershed…

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SNB independence put to the test

This content was published on Sep 6, 2012 When the SNB set a SFr1.20 exchange floor against the euro a year ago the strategy was first met with a chorus of sceptical criticism. Rightwing politicians, led by the Swiss People’s Party, said it was too risky following the losses incurred in previous SNB interventions. The political left and trade unions accused the SNB…

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Switzerland remains most competitive economy

This content was published on Sep 5, 2012 The Global Competitiveness Report, released on Wednesday, cites Swiss innovation and its efficient labour market as the country’s greatest strengths, followed by its sophisticated business sector. The quality of Switzerland’s research institutions, the high level of collaboration between the academic and business sectors and its high rate of product patenting also contributed to the ranking.…

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Future challenges tax Swiss bankers

This content was published on Sep 4, 2012 The Swiss Bankers Association (SBA) identified rampant regulation, the global tax evasion row and barriers to key markets as the main challenges ahead. Swiss banks suffered a 3.8 per cent drop in turnover last year to SFr59.4 billion ($62 billion), the SBA reported on Tuesday. Profits (SFr13 billion) and the number of employees (108,100) remained…

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Internal: Archive

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Swiss casinos by the numbers

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Libor faces overhaul after rigging scandal

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Executive pay plunges for banks, not for others

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Turning around the Emmental cheese industry

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The cheese that appeals to foreign palates

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Only the best will do

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Exchange rate controls could stay “for years”

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SNB independence put to the test

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Switzerland remains most competitive economy

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Future challenges tax Swiss bankers

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