The non-governmental organizations (NGO) Transparency International said authorities regulating the financial sector lack transparency, creating mistrust and hampering the effectiveness of systems designed to prevent financial crime, according to a report into the amount of information published on authorities’ anti-money laundering efforts in 12 countries hosting major financial centres. “We need to see that the people meant to stop corruption in the banking industry are doing their job,” said José Ugaz, chair of NGO. “There is no good reason to keep this data secret," he added. "We, the citizens, have the right to know if the financial sector is being permissive or complicit with illicit activity.”
Global transaction banks are actively using SWIFT’s new global payments innovation (gpi) service, which opened for live payments in January 2017, says the financial messaging services provider. ABN AMRO, Bank of China, BBVA, Citi, Danske Bank, DBS Bank, Industrial and Commercial Bank of China, ING Bank, Intesa Sanpaolo, Nordea Bank, Standard Chartered Bank and UniCredit are live with SWIFT gpi, exchanging gpi payments across 60 country corridors. Numerous additional banks will follow in the coming months. “SWIFT gpi is now live and is already enhancing the cross-border payments experience for corporate treasurers,” says Christian Sarafidis, Chief Marketing Officer at SWIFT.
Ferrari remains the world’s strongest automotive brand and is among the top 10 strongest brands across any industry, according to valuation and strategy consultancy Brand Finance. The Maranello-based company has extended its brand strength advantage over second-placed Porsche. Its brand value is also up, increasing 40% to $6.15 billion. Toyota remains the most valuable auto brand, with a value of $46.3 billion Ferrari’s brand strength has improved by three points this year to 92, leading to an upgrading of its brand rating to the maximum AAA+ designation. Porsche is the second most powerful auto brand with a score of 86. Coming in second is Porsche with a score of 86, while Volkswagen and Seat tie for third place scores of 84.9. Following those four automakers are BMW (84.5), Renault (84.2), Ford (83.8), Toyota (83.1), Rolls-Royce (83.0) and Lamborghini (82.3).
Bitcoin ATMs are becoming increasingly redundant. Innovative bitcoin service providers and companies are transforming existing bank and public ATMs into bitcoin machines by installing their signature software. In countries like Taiwan, South Korea, the Philippines and Switzerland, users can visit literally any convenience store, bank ATM and subway teller machine and see a bitcoin option. Bitcoin companies are developing software that are applicable to existing ATMs and allowing users to utilize machines located nationwide to either purchase or sell bitcoin.
UBS said Northern Trust is buying fund services units of UBS in Luxembourg and Switzerland, on Monday. The company did not announce the financial terms of the deal. The transaction is expected to close in the second half of 2017, subject to applicable regulatory and fund board approvals and other customary closing conditions.
The Swiss Market Index, the most important basket of Swiss blue-chips, is often considered a value-investment, not only for the traditional role of Switzerland as a safe-haven but also for the predominance of defensive companies in its basket, some of which are among the largest companies by market capitalization the world. Nevertheless, it is not so simple to link the aversion of investors to risk to the relative course of the Swiss stocks. When the investors look for safety, for example, the Swiss Franc is often the main beneficiary but a hard currency is not the best environment for global business and so is explained the relative weakness of the Swiss markets during the bearish trends of the euro against the Swiss franc.
Medical residents at a Swiss teaching hospital spend almost half of their workday on the computer, which is approximately three times the amount of time they spend with patients, according to a Swiss study published in Annals of Internal Medicine. The researchers conducted a time and motion study to evaluate how residents spend their time during day and evening hospital shifts. From May to July 2015, they studied 36 Swiss internal medicine residents with an average of 29 months of postgraduate training. Residents spent 52.4% of their time on activities indirectly related to patients compared to 28% of their time on activities directly related to patients during day shifts. On average, residents spend 1.7 hours per day with patients, compared with 5.2 hours using computers, and 13 minutes doing both.
The yellow metal traded rather flat on Friday morning, as it found support in the monthly R1, which is located at 1,237.68. The bullion retreated to that level after it stopped and reversed its surge in the second half of Thursday's trading session. Gold has two possible future scenarios. Either the bullion finds enough strength in the support level to rebound and approach the 1,245 level, or the yellow metal will fail at that and begin a move lower. A move lower would result in a fall to the weekly PP, which is located at 1,232.24.
Kickstart Accelerator, a swiss multi-corporate accelerator in Europe, has announced the opening of applications for its second programme, predominantly based out of ewz-Unterwerk Selnau, the old transformer station in centre of Zurich. The accelerator, an initiative of digitalswitzerland, is inviting startups from around the world and will shortlist 30 companies, all of whom will participate in an eleven-week programme. The programme will start on 4 September, with an official opening ceremony due to take place on 7 September. The final demo day is set as 17 November, where each team will present their products to a group of potential investors. Kickstart will not be taking any equity from the participating startups. Instead, founders will have the chance to win up to 25`000 CHF, as well as receiving a monthly founder stipend and masterclass sessions with mentors from the corporate partners and the Swiss innovation ecosystem. Kickstart Accelerator is looking for startups in the food, fintech, smart cities, and robotics and intelligent systems sectors, and is partnering with BaseLaunch to facilitate healthtech companies.
Jointly with renowned experts, SSF will debate key success factors for fruitful partnerships attract
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The climate transition creates opportunities and risks, and financial institutions and corporations
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