News

23.12.2016

Raiffeisen: no fine after agreement with US Justice

Swiss cooperative banking group Raiffeisen entered a U.S. tax settlement program in the third category, or as a bank with no criminal dealings. The Swiss bank left the programm and it didn't pay any fine, it said on Friday. Raiffeisen, Switzerland's third-biggest bank, three years ago decided to qualify itself as one of the Swiss financial institutions that had not committed any offenses under U.S. tax law. An accord with the U.S. Department of Justice this week "creates legal certainty and ends the tax conflict without payment of a penalty", it said in a statement.

 
Read More
22.12.2016

Will politics shake the global economy out of its torpor in 2017?

Many of the policy changes that populist politicians are calling for could feasibly support economic growth.

 
Read More
22.12.2016

Ex-BSI banker jailed for 30 months over 1MDB investigation

Former BSI banker Yeo Jiawei was found guilty for his role in the most complex, sophisticated and largest money-laundering case involving billions of dollars alleged to have been misappropriated from 1Malaysia Development Berhad (1MDB). Singapore sentenced former Yeo Jiawei to 30 months in jail after a 12-day trial. He is the third BSI banker convicted in the city state this year. The prosecutors had charged that Yeo had amassed $16.55 million by taking secret profits from 1MDB-linked transactions during his work for the Singapore unit of BSI.

 
Read More
22.12.2016

Credit Suisse is planning more job cuts in Switzerland?

Credit Suisse intends to cut about 900 job places in Switzerland to lift profitability as it gears up for a partial sale of the Swiss division, as Bloomberg referred today, according to two people with knowledge of the matter. Credit Suisse's ultimate goal is to eliminate 1,600 jobs in Switzerland by the end of 2018, the sources said. A spokesman for Credit Suisse in Zurich declined to comment.

 
Read More
22.12.2016

Alibaba comes back on US counterfeits blacklist

Chinese e-commerce giant Alibaba Group is back on the U.S. government's annual list of "notorious markets" that sell pirated goods. The listing carries no penalties but will likely be an embarrassment for Alibaba, which has been trying to burnish its image in international markets. On Wednesday, the Office of the United States Trade Representative dumped Alibaba back on its Notorious Markets List, which “highlights prominent online and physical marketplaces that reportedly engage in and facilitate substantial copyright piracy and trademark counterfeiting.” This comes four years after the USTR had removed the Chinese e-commerce company from the list after it made some progress in combating fakes.

 
Read More
22.12.2016

Israeli Bank will move away from Switzerland

First International Bank of Israel is liquidating its remaining international business, and will become the only one of Israel's five leading banks that operates exclusively in Israel. Controlled by Zadik Bino, the bank announced that it had signed an agreement to sell FIBI Switzerland to Swiss bank CBH. CBH will acquire FIBI Switzerland's customer portfolio, which totaled 876 million Swiss Franc as of September 30, for seven million Swiss francs, amounting to 0.8% of the assets. CBH will also pay an amount equal to FIBI Switzerland's equity, which totaled 59.2 million Swiss francs as of September 30. The deal is slated for completion by the end of the first quarter of 2017.

 
Read More
22.12.2016

REPORTS: Open Funds, Press Release Dec 2016

Luxx London Investment -Luxx - and OpenFunds Investment Services - OpenFunds -, announced today that they have completed a final closing for The London Heritage Fund (the ‘Fund’) with total investor commitments of 33.45m GBP.

 
Read More
21.12.2016

Switzerland: government to defend SNB monetary policy

The government defended he Swiss National Bank’s (SNB) independence and rejected a number of proposals to reform Switzerland’s central bank. "The SNB's monetary policy concept has proved its worth also in difficult situations such as in the wake of the global financial crisis from 2007 to 2009," the cabinet said in a statement after a meeting. The abandonment of the CHF1.20 peg to the euro in January 2015 saw the franc appreciate further against the euro at the expense of exporters and the Swiss tourism industry. This sparked a raft of parliamentary proposals to force the SNB to change course.

 
Read More
21.12.2016

BNP Paribas applies blockchain payments in real time

BNP Paribas, the French multinational bank and financial services company, announced today that it has processed several live payments for Panini Group, an international leader in collectibles and trading cards and Amcor, a global leader in packaging solutions, using blockchain technology. It processed and cleared for payments in various currencies between bank accounts located in Germany, the Netherlands and the United Kingdom. The payments were fully processed and cleared in a few minutes, which BNP Paribas says highlights the real potential of this innovative technology which eliminates delays, unexpected fees and processing errors, paving the way for real time cash management.

 
Read More
21.12.2016

World's largest trading floor on sale

The UBS trading floor in Stamford, Connecticut, US, once the world’s largest, had more than 5,000 traders slamming phones and kicking trash cans and now it is up for sale, according to a person with knowledge of the offering, as Bloomberg reported. UBS, which had owned the building, is responsible for its maintenance until its lease expires at the end of next year, the person said. Fast forward to today and the near-vacant building, larger than a football field (approximately 720,000-square-foot), has been put on the sale block, since the Swiss bank hasn’t been able to restock its trader ranks after the 2008 financial crisis, the Wall Street Journal reported.

 
Read More

Events


Semptember 2015
  • 24
    Feb

    This year, following companies will attend: Evolution Mining / Perseus Mining / Panoramic Resources

  • 01
    Mar

    Are you considering doing an MBA or Executive MBA ? Then don't miss this opportunity and attend the

  • 02
    Mar

    Private Equity in Zug: Der langfristige Horizont von Private Equity Investoren

  • 02
    Mar

    The Lead Quantitative & Asset Management Event in Europe

  • 07
    Mar

    Festival für Trends und die Zukunftsperspektiven im Marketing

See All

newsletter

Updates and news from MarketPlus

Market Overview
SMI PR8514.520,09 %
LYXOR DAX INAV113.2350,59 %
FTSE MIB Index18978.65-0,15 %
FTSE 1007299.86-0,00 %
CAC 404864.99-0,05 %
S&P 5002351.160,17 %
NASDAQ Composite5838.580,41 %
HANG SENG INDEX24146.080,47 %
Powered by Yahoo Finance