Swiss prosecutors have begun a preliminary investigation into Teodorin Nguema Obiang, the son of the president of Equatorial Guinea, who is set to go on trial in France for alleged misspending of public funds, as the Switzerland's 24 Heures newspaper reported Tuesday. The Swiss Federal Office of Justice confirmed it had sent a judicial request to French authorities seeking support for its probe of Obiang. He is accused of acquiring real estate, luxury cars, art and other goods in France with public funds from the native country. Geneva prosecutor's office spokesman declined further comment about the investigation.
According to the FED, the recovery after the crisis of 2008 is coming along nicely although it is a bit slower in Europe. The FOMC is still debating whether a rise in interest rates is indicated, and December seems to be the right month for another rise of 25 basis points.
Saudi Arabia has raised more than $17 billion in its first foray into the global bond markets, according to news reports, as the kingdom struggles to close a budget deficit caused by declining oil prices. The issue eclipsed the previous record for an emerging market sovereign bond sale, a $16.5 billion issue by Argentina in April, Reuters reported. The bonds are due to be repaid in 5, 10 and 30 years and are expected to trade at a 160-235 basis point premium to US Treasuries. The notes are expected to be rated A1 by Moody’s and AA- by Fitch.
Domenico Petrella, a former executive at Bank Julius Bär, was sentenced to 4 years and 6 months imprisonment and compensation of private accusers over the misappropriation of about €15 million, by the Court of Criminal Lugano, presided over by Judge Mauro Ermani, as reported by the Giornale del Ticino. The banker had cheated forty Italian customers by attracting approximately €15 million to play them at the Casino of Campione.
Mexico’s peso reached a six-week high in a signal that Hillary Clinton held on to her advantage over Donald Trump in the final U.S. presidential debate. The currency was up by 0.2% at 18.4937 per dollar around 10:45 p.m. ET. Earlier, it drifted between little changed to down by as much as 0.2% as the two candidates spoke.
US housing starts dropped unexpectedly last month, whereas building permits rose more than expected, official figures revealed on Wednesday. According to the US Department of Commerce, overall groundbreaking activity, however, declined 9.0% to a seasonally adjusted annual pace of 1.05 million units last month, the lowest level since March 2015, while market analysts anticipated a slight increase to 1.18 million units during the reported period.
Swatch CEO Nick Hayek claims to be optimistic, despite the difficulties in the Chinese market "We've seen growth in China since July, every month a bit blackberries," particularly as regards the trend of Omega but also that of Blancpain Longines, as he stated in an interview published today on the newspaper "Handelszeitung". Swatch is taking advantage of the weakness of the British pound due to Brexit
The holders of MasterCard, Visa and American Express issued by Swisscard will make payments via Apple Pay by the end of autumn,. The provider of credit cards, leader of the sector, manages in Switzerland over one million cards. Using their own credit card with Apple Pay, the card number is not stored on your phone and even on Apple's servers, the company states in today's note. Each transaction is authorized by a specific dynamic code.
Credit Suisse is ready to write a €100 million check to the Italian Revenue Agency to close the tax dispute with Italy, as Reuters reported by a source with knowledge of the dossier. The bank, through a spokesman, answered with a "no comment". The Swiss banking group has been at the center of an investigation conducted by the prosecutor Gaetano Ruta, of Milan prosecutors, for violation of the Law 231/2001 on the liability of companies for crimes committed by their employees, and also for tax fraud, money laundering, obstacle to the supervisory authority and illegal.
Credit Suisse faced challenges in the third quarter, as Chief Executive Tidjane Thiam underlined in the last weeks, while the Zurich-based bank planned to axe thousands of jobs within the end of this year. Credit Suisse expects to shed some 1,200 jobs by the end of this year—which come on top of 4,800 job cuts already; CEO swiss bank intends to de-emphasize its investment banking operations while bolstering wealth management businesses in Asia and Switzerland. The bank will report third-quarter results on November 3.
Two years after two historic global agreements were established, leaders and other change agents in
Im September haben die Schweizer Stimmbürger die „Altersreform 2020“ des Bundesrates abgelehnt.
The 2017 symposium, with the theme "Successfully crossing borders", will have a strong focus on the
Dieser Event ist ausschliesslich für Pensionskassenvertreter (Stiftungsräte, CEOs, Anlageverantwor
Nach Jahren des geldpolitischen Experimentierens sind die Finanzmärkte so verzerrt wie selten zuvor
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