In a major event for Swiss banking and Bitcoin generally, Falcon Private Bank became the first Swiss bank to begin offering customers direct access to their Bitcoin and altcoin portfolios. Through a partnership with Bitcoin Suisse AG, the bank is able to provide the necessary infrastructure to allow clients access to their coin holdings. Wealthy clients of Swiss private bank Falcon will be able to store and trade bitcoins via their cash holdings with the bank from Wednesday, a move that signals the traction the virtual currency is gaining even in slow-changing asset management.
The millennial generation could be worth as much as $24 trillion in three years' time, according to UBS, not bad when it's roughly 1.5 times the size of the U.S. economy in 2015. But the research shows a surprise: in the Middle East millennials are more hard-working and entrepreneurial compared to their global peers.
The EU recommended on Wednesday that three times bailed-out Greece has made enough progress in balancing its budget to be removed from special oversight of government spending. The move is a further boost for Athens days after it secured a fresh tranche of cash from its latest bailout to meet crucial debt payments and avoid a fresh crisis.
Switzerland and France have smoothed over concerns which had blocked the exchange of tax data between the two countries, a boost to French efforts to pursue cash hidden from the taxman. The way in which data sent over by Switzerland was used in a French legal case involving UBS, Switzerland’s biggest bank, had raised concerns for the Swiss that the two countries had different understandings of their double taxation agreement (DTA). DTAs are in place to try to prevent double taxation and also set the ground rules for administrative assistance in tax matters.
Google emerged on Wednesday as the victor in its latest legal battle in Europe, after a French court said the technology behemoth did not have to pay $1.3 billion in back taxes. At issue was whether Google had avoided taxes in France by routing sales in the country through an Irish-based subsidiary over a five-year period ending in 2010.
Former BSI banker Yeo Jiawei was on Wednesday sentenced to four-and-a-half years jail for money laundering and cheating, in a case linked to an investigation involving Malaysian state fund 1Malaysia Development Berhad (1MDB). Yeo, 34, had set up multiple suspicious transactions involving 1MDB, and admitted he secretly profited at least $3.5 million from the illicit transactions. He laundered a portion of the money by transferring at least $500,000 into his parents' bank account. Prosecutors identified Yeo as a central figure linked to Malaysian financier Low Taek Jho, who was characterised by US investigators as the controller of a plan to drain billions from 1MDB.
U.K.-based fintech startup Curve has raised $10 million in a Series A funding round. The funding comes from a wide range of global banks, venture capitalists and industry veterans, including Santander InnoVentures, Investec and Henry Ritchotte, former COO of Deutsche Bank. "In the last 12 months, we've established a loyal base of customers who love the way Curve complements and improves their existing financial lives," said Shachar Bialick, founder and CEO.
Robots are moving on to the trading floors of investment banks. Many of the world’s biggest banks have for years been automating manual, repetitive tasks done by support staff to save money. But now they are putting the latest forms of artificial intelligence to work at the heart of operations among their star traders, allocating funds and analysing data to develop strategies. According to a report by the Financial Times, UBS is about to take robots to trading floors. The company has shown how two AI solutions can assist traders in enhancing their performance.
According to a report by Russell Reynolds Associates, Fortune 500 companies are keen to employ women as general counsel with 35 per cent of open general counsel positions filled by women last year. The increase is attributed to the need for in-house experience which companies now want, having previously hired one in three general counsel from top partner ranks in law firms. Women, who are still struggling to get on the equity partnership ladder, are turning away from law firms to corporate life. Within the last three years, 91 percent of women hired externally had in-house experience and 61 percent had been a general counsel.
The world of economy is shaped by many different choices made by human beings. It is also shaped by objects which, sometimes, one would not think of. The book by Tim Harford, Fifty Inventions that Shape the Modern Economy, published by Little, Brown, is entertaining and sometimes surprising.
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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