UBS
UBS weighs its future as Switzerland debates tougher bank rules
UBS faces the prospect of holding an additional $16 billion in capital after the Council of States backed tougher post-Credit Suisse rules.
8 days ago · 1 source
finance
Swiss gold refiner Valcambi plans Hong Kong expansion
Valcambi plans to establish a precious-metals refining and vaulting operation in Hong Kong, reinforcing the Swiss company’s role in Asia’s expanding bullion market. The development is relevant to Switzerland’s globally important refining sector and Hong Kong’s competition with Singapore.
SWI swissinfo.ch
business
Investors back wind-up of Partners Group’s UK-listed fund
Investors have voted to wind up Partners Group’s London-listed private-equity fund after a large majority backed converting their holdings into realisation shares and pursuing an orderly liquidation.
SWI swissinfo.ch
Partners Group
Partners Group set to wind up London-listed private-equity fund
Investors have backed the winding-up of Swiss asset manager Partners Group’s London-listed private-equity fund after 74. 12% of shareholders supported converting their holdings into realisation shares. The decision highlights investor pressure for liquidity amid concerns about the private-equity market.
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Swiss franc
The Swiss franc is attracting greater attention as a funding currency for carry trades because the Swiss National Bank’s policy rate remains at zero while interest rates elsewhere are higher. The strategy can generate returns for investors but exposes them to losses if the franc strengthens.
SWI swissinfo.ch
hedge funds
Balyasny Asset Management is expanding its Swiss presence with a planned base in Zug and recruitment for commodities-related roles. The article would explore why global multi-strategy hedge funds are increasing their footprint in Switzerland and how Zug competes with Geneva as a financial centre.
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jobs
Bitcoin Suisse plans to restructure its international operations, potentially cutting up to half of its 120 Swiss positions while retaining customer-facing and wealth-management activities in Switzerland.
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corruption
Pierre Mirabaud, former president of the Swiss Bankers Association, has received a suspended two-year prison sentence for bribing foreign public officials and money laundering. The case involved benefits allegedly linked to the investment of Kuwaiti public funds and raises fresh questions about compliance in Swiss finance.
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finance
Switzerland’s stock exchange operator SIX is offering real-time price data from Swiss, British and EU markets to institutional and retail users. The service could broaden access to market information while intensifying competition among financial-data providers.
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Partners Group
Partners Group has replaced CEO David Layton with veterans Roberto Cagnati and Juri Jenkner as co-chief executives after weaker first-half earnings and a warning on performance fees. Investors reacted negatively, sending shares down sharply and extending the firm’s difficult year.
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banking
Switzerland’s banks now manage more than CHF10 trillion in client assets, underscoring the strength of the country’s wealth-management sector.
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healthcare
Philippe Luchsinger, former president of the Association of General Practitioners, has ignited a debate on healthcare costs by accusing specialists of using outdated fee schedules to bill for more time than modern technical examinations require, effectively overcharging the system.
SWI swissinfo.ch
economy
The Swiss economy is demonstrating robust health, with the benchmark SMI index hitting an all-time high, the IMF forecasting continued positive growth, and new figures showing a significant rise in median annual salaries.
SWI swissinfo.ch · +2 more
finance
A massive investigation in India has uncovered alleged accounting fraud at Rajesh Exports, with its Swiss subsidiaries in Ticino and Lucerne at the center of the controversy. Indian authorities accuse the company of inflating figures, with actual earnings reportedly 99% lower than stated.
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finance
To prevent a future banking crisis, the Swiss government has approved new regulations requiring systemically important banks like UBS to significantly increase the capital held against their foreign subsidiaries.
SWI swissinfo.ch
business
Swiss banking giant UBS has achieved a key milestone by obtaining a national banking license from US authorities. This will allow the bank to expand its services for wealthy clients in the US, offering more everyday banking products and strengthening its long-term commitment to the American market.
The Local Switzerland · +1 more
technology
For the first time, smartphones have become the preferred payment method for the Swiss population, surpassing traditional debit cards and cash. A new survey reveals a significant digital shift, particularly among younger generations.
SWI swissinfo.ch
Swisscom
Swisscom's net profit fell significantly due to the integration costs associated with its €8 billion acquisition of Vodafone Italia, compounded by erosion in its core telecommunications business and a strong Swiss franc.
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business
Swisscom has announced a significant drop in net profit, attributing the decline to the substantial costs of integrating Vodafone Italia following its recent €8 billion acquisition. The result highlights the financial impact of the largest takeover in the telecom firm's history.
SWI swissinfo.ch
geopolitics
Geopolitical tensions over Greenland have escalated, with the US threatening new import tariffs on several European nations. The Swiss stock market has reacted negatively to the news, while Swiss gold refiners see a surge in imports from the mineral-rich territory.
SWI swissinfo.ch · +2 more
