GenevaLunch » banking http://genevalunch.com Community Newspaper Online Fri, 10 Feb 2012 12:16:25 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://creativecommons.org/licenses/by-nc-nd/3.0/ Copyright © GenevaLunch 2010 editor@genevalunch.com (GenevaLunch) editor@genevalunch.com (GenevaLunch) http://genevalunch.com/wp-content/plugins/podpress/images/powered_by_podpress.jpg GenevaLunch http://genevalunch.com 144 144 Community Newspaper Online GenevaLunch GenevaLunch editor@genevalunch.com no no UBS investment banking losses cut into profits http://genevalunch.com/blog/2012/02/07/ubs-investment-banking-losses-cut-into-profits/ http://genevalunch.com/blog/2012/02/07/ubs-investment-banking-losses-cut-into-profits/#comments Tue, 07 Feb 2012 10:23:28 +0000 Ellen Wallace http://genevalunch.com/?p=66346 GenevaLunch.com ZURICH, SWITZERLAND – UBS, Switzerland’s largest bank, posted a full-year net profit of CHF4.23 billion, compared to CHF7.5b in 2010. The bank’s revenues were up in some areas and new money under management grew strongly, up CHF42.4 billion for the year, showing a turnaround in consumer confidence. But profits were hurt by fourth quarter losses [...]

UBS investment banking losses cut into profits © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2012/02/07/ubs-investment-banking-losses-cut-into-profits/feed/ 1 Swiss investigation into possible bank lending rate fixing is latest in a string http://genevalunch.com/blog/2012/02/04/swiss-investigation-into-possible-bank-lending-rate-fixing-is-latest-in-a-string/ http://genevalunch.com/blog/2012/02/04/swiss-investigation-into-possible-bank-lending-rate-fixing-is-latest-in-a-string/#comments Sat, 04 Feb 2012 09:57:41 +0000 Ellen Wallace http://genevalunch.com/?p=66271 GenevaLunch.com BERN, SWITZERLAND – Comco, Switzerland’s competition commission, has opened an investigation into more than 10 international banks and companies and the country’s two largest, UBS and Credit Suisse, for possible “collusion between derivative traders [that] might have influenced the reference rates Libor and Tibor. Furthermore, market conditions regarding derivative products based on these reference rates [...]

Swiss investigation into possible bank lending rate fixing is latest in a string © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2012/02/04/swiss-investigation-into-possible-bank-lending-rate-fixing-is-latest-in-a-string/feed/ 0 Swiss bank Wegelin braced for “expected” fight with US http://genevalunch.com/blog/2012/01/05/swiss-bank-wegelin-braced-for-expected-fight-with-us/ http://genevalunch.com/blog/2012/01/05/swiss-bank-wegelin-braced-for-expected-fight-with-us/#comments Thu, 05 Jan 2012 04:31:55 +0000 Ellen Wallace http://genevalunch.com/?p=64973 GenevaLunch.com ZURICH, SWITZERLAND – Wegelin Bank in St Gallen, possibly Switzerland’s oldest bank, made headlines back in August 2009 when it published a newsletter with the heading “Farewell America”, saying it was pulling out of the US and advising its clients to get out of US securities. This week the bank says it is prepared for [...]

Swiss bank Wegelin braced for “expected” fight with US © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2012/01/05/swiss-bank-wegelin-braced-for-expected-fight-with-us/feed/ 1 UBS among 16 banks downgraded by S&P’s http://genevalunch.com/blog/2011/11/30/ubs-among-16-banks-downgraded-by-sps/ http://genevalunch.com/blog/2011/11/30/ubs-among-16-banks-downgraded-by-sps/#comments Wed, 30 Nov 2011 12:44:22 +0000 Ellen Wallace http://genevalunch.com/?p=64270 GenevaLunch.com Stock markets down on gloomy news ZURICH, SWITZERLAND – Standard & Poor’s applied new credit rating standards to 37 of the world’s largest banks 30 November, which resulted in the downgrading of a number of major banks, for different areas of their businesses. Seven of eight US banks on the list were downgraded. China Construction [...]

UBS among 16 banks downgraded by S&P’s © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2011/11/30/ubs-among-16-banks-downgraded-by-sps/feed/ 0 UK, Switzerland sign tax agreement http://genevalunch.com/blog/2011/10/06/uk-switzerland-sign-tax-agreement/ http://genevalunch.com/blog/2011/10/06/uk-switzerland-sign-tax-agreement/#comments Thu, 06 Oct 2011 11:54:34 +0000 Ellen Wallace http://genevalunch.com/?p=62174 GenevaLunch.com UK residents with Swiss accounts affected in 2013 BERN, SWITZERLAND – The Swiss and UK governments Thursday 6 October signed an agreement reached earlier, that will allow the British government to tax income on assets held in Swiss banks by UK residents. The Swiss government announced that “Federal Councillor Eveline Widmer-Schlumpf and the UK Exchequer [...]

UK, Switzerland sign tax agreement © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2011/10/06/uk-switzerland-sign-tax-agreement/feed/ 0 UBS CEO Oswald Grübel resigns, it is his ‘duty’ he says http://genevalunch.com/blog/2011/09/25/ubs-ceo-oswald-grubel-resigns-it-is-his-duty-he-says/ http://genevalunch.com/blog/2011/09/25/ubs-ceo-oswald-grubel-resigns-it-is-his-duty-he-says/#comments Sat, 24 Sep 2011 22:10:31 +0000 Laila Rodriguez http://genevalunch.com/?p=61816 GenevaLunch.com ZURICH, SWITZERLAND – Oswald Gruebel, 67, has resigned as CEO of UBS AG, Switzerland’s largest bank, after a $2.3 billion dollar loss from unauthorized trading. On a statement released on Saturday 24 September, UBS stated that the board had named Sergio Ermotti, the bank’s European head, as interim CEO. UBS said in July that former [...]

UBS CEO Oswald Grübel resigns, it is his ‘duty’ he says © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2011/09/25/ubs-ceo-oswald-grubel-resigns-it-is-his-duty-he-says/feed/ 1 Swiss Bankers’ Odier says new US tax money treaty unlikely (update) http://genevalunch.com/blog/2011/09/05/swiss-bankers-odier-says-new-us-tax-money-treaty-unlikely-update/ http://genevalunch.com/blog/2011/09/05/swiss-bankers-odier-says-new-us-tax-money-treaty-unlikely-update/#comments Mon, 05 Sep 2011 10:19:07 +0000 Ellen Wallace http://genevalunch.com/?p=61212 GenevaLunch.com Odier praises recent agreements with UK, Germany and says US must respect existing Swiss law ZURICH, SWITZERLAND – Patrick Odier, president of the Swiss Bankers Association (SBA), says that a new Swiss treaty with the US, similar to the one negotiated for the transfer of banking data from UBS to the US but covering additional [...]

Swiss Bankers’ Odier says new US tax money treaty unlikely (update) © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2011/09/05/swiss-bankers-odier-says-new-us-tax-money-treaty-unlikely-update/feed/ 0 HSBC’s massive job cuts put Swiss reductions in shade http://genevalunch.com/blog/2011/08/02/hsbcs-massive-job-cuts-put-swiss-reductions-in-shade/ http://genevalunch.com/blog/2011/08/02/hsbcs-massive-job-cuts-put-swiss-reductions-in-shade/#comments Tue, 02 Aug 2011 08:36:55 +0000 Ellen Wallace http://genevalunch.com/?p=60291 GenevaLunch.com GENEVA, SWITZERLAND – Europe’s largest retail bank, HSBC in the UK, announced job cuts 1 August that will reached 30,000 by the end of 2013, joining Switzerland’s UBS and Credit Suisse, as well as other large banks that have announced major staffing cuts in the past two weeks as financial markets fail to bounce back [...]

HSBC’s massive job cuts put Swiss reductions in shade © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2011/08/02/hsbcs-massive-job-cuts-put-swiss-reductions-in-shade/feed/ 0 Parliamentary commission: yes to Swiss big bank capital hike http://genevalunch.com/blog/2011/05/19/parliamentary-commission-yes-to-swiss-big-bank-capital-hike/ http://genevalunch.com/blog/2011/05/19/parliamentary-commission-yes-to-swiss-big-bank-capital-hike/#comments Thu, 19 May 2011 10:00:35 +0000 Ellen Wallace http://genevalunch.com/?p=57889 GenevaLunch.com BERN, SWITZERLAND – The finance commission of the Swiss parliament’s lower house has given its approval to new rules that would require Switzerland’s two largest banks, UBS and Credit Suisse, to increase their capital bases substantially above the amount required by Basel III global requirements. Basel III rules were established by the Basel Committee on [...]

Parliamentary commission: yes to Swiss big bank capital hike © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

]]> http://genevalunch.com/blog/2011/05/19/parliamentary-commission-yes-to-swiss-big-bank-capital-hike/feed/ 1 Swiss PostFinance continues growth, stays cautious on mortgages http://genevalunch.com/blog/2011/05/09/swiss-postfinance-continues-growth-stays-cautious-on-mortgages/ http://genevalunch.com/blog/2011/05/09/swiss-postfinance-continues-growth-stays-cautious-on-mortgages/#comments Mon, 09 May 2011 13:50:22 +0000 Ellen Wallace http://genevalunch.com/?p=57445 GenevaLunch.com Bern, Switzerland (GenevaLunch) - PostFinance, the financial arm of Swiss Post, has attracted 18,000 new clients in the first three months of 2011 and its earnings are up 39 percent over Q1 in 2010, to CHF 181 million, Swiss Post announced 9 May. Customer deposits rose by CHF5.2 billion to CHF89.4 billion. “This increase lead [...]

Swiss PostFinance continues growth, stays cautious on mortgages © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

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