Tag Archives: Switzerland

UBS Given an Infusion of Capital (2008)

Posted on by

http://freedomwat.ch/wp-content/uploads/2012/09/17swiss01-190.jpg

“Less than a week after Europe and the United States coordinated moves to ease the crisis, the Swiss government said it would take a 9 percent stake in UBS, the financial giant that has been among the hardest hit by losses from American subprime mortgage debt, and provide it with 6 billion Swiss francs ($5.36 billion) in capital.”

http://www.nytimes.com/2008/10/17/business/worldbusiness/17swiss.html?_r=1

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

UBS ‘Rogue trader’ goes to court in $2.3 billion fraud trial

Posted on by

http://freedomwat.ch/wp-content/uploads/2012/09/Kweku-Adoboli-arrives-at-London-Magistrates-court-via-AFP1.jpg

“A trader accused of losing $2.3 billion in a fraud at Swiss bank UBS goes on trial in London on Monday in a case expected to once again put the supervision of bankers under the spotlight.  Ghanaian-born equities trader Kweku Adoboli denies two counts of fraud and two of false accounting between 2008 and September last year.  The son of a Ghanaian former United Nations official, Adoboli worked for the global synthetic equities division at UBS in the City of London financial district.  The true magnitude of the risk exposure had been hidden through ‘fictitious’ positions allegedly taken by the trader, the bank said.”

http://www.rawstory.com/rs/2012/09/10/rogue-trader-goes-to-court-in-2-3-fraud-trial/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

How Switzerland is weathering the storm

Posted on by

http://freedomwat.ch/wp-content/uploads/2012/09/035_pau580173_02-333982681.jpg

“How did such a small landlocked country without natural resources and a difficult geography become so competitive, innovative and prosperous, allowing it to grow into one of the largest banking centres, shipping powers and commodities players?
For experts, it is quite simple: Continual peace, economic growth of its main export partners and successful industries supported by business-friendly legislation have helped the world’s oldest democracy to thrive.”

http://www.swissinfo.ch/eng/business/How_Switzerland_is_weathering_the_storm.html?cid=33400022

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Sugar-coated terrorism: Swiss chocolate inspections by US leave sour taste

Posted on by

http://freedomwat.ch/wp-content/uploads/2012/09/sugar-coated-inspections-swiss.n1.jpg

“Chocolatiers in Switzerland are infuriated by US inspections on their universally-loved confectionary for bioterrorism or radioactive threats. Factories have no choice but allow checks; otherwise will they be banned from the profitable US market.  At least 21 Swiss chocolate factories and 18 dairies are obliged to allow inspections of their work until September 20, German business journal Handelszeitung reports.  The reason is the new Food Safety Modernization Act, signed by President Obama in April 2011. Before the Act, examinations were conducted at the US border.”

http://rt.com/news/swiss-chocolate-bioterrorism-inspectors-615/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Switzerland tops World Economic Forum global competitive rankings

Posted on by

“The United States’ ability to compete on the global stage has fallen for the fourth year running as confidence in the country’s politicians continues to decline, an annual survey from the World Economic Forum found Wednesday.  Even though the world’s largest economy saw its overall competitiveness rise on the back of its status as a global innovation powerhouse, the Forum says the U.S.’s ranking has dropped two places to seventh this year. The Netherlands and Germany have moved ahead of the U.S. on the top 10 leaderboard.”

http://www.washingtonpost.com/world/europe/switzerland-tops-world-economic-forum-global-competitive-rankings/2012/09/05/2da343fa-f72f-11e1-a93b-7185e3f88849_story.html

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

United States Drops to 7th in WEF’s Global Competitiveness Index

Posted on by

http://freedomwat.ch/wp-content/uploads/2012/09/wef-ranking-2012.jpg

“The United States dropped from 3rd place to 10th place since 2000 according to Economic Freedom of the World.  The U.S. also has dropped to 10th place in the Index of Economic Freedom, and is now ranked only as a ‘mostly free’ nation. Some people dismiss these pieces of data because the two rankings are considered to reflect a pro-free market bias.  But the folks at the World Economic Forum surely can’t be pigeonholed as a bunch of libertarians.  The United States took the top spot in the WEF’s Global Competitiveness Index as recently as 2007 and 2008, but has now dropped to 7th place.”

http://danieljmitchell.wordpress.com/2012/09/05/another-dismal-assessment-of-obamanomics-united-states-drops-to-7th-in-wefs-global-competitiveness-index/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Cameron: Britain would be “greater Switzerland” outside EU

Posted on by

http://s1.reutersmedia.net/resources/r/?m=02&d=20120719&t=2&i=631914952&w=460&fh=&fw=&ll=&pl=&r=CBRE86I0PUJ00

“I think it would be bad for Britain.  When I look at what is in our national interest, we are not some country that looks in on ourselves or retreats from the world.  It comes back to this, who are going to be the winning nations for the 21st century? If your vision of Britain was that we should just withdraw and become a sort of greater Switzerland, I think that would be a complete denial of our national interests.”  [His own ruling-class interests, certainly.  That of the great masses?  The evidence speaks for itself.]

http://www.reuters.com/article/2012/07/19/us-britain-eu-cameron-idUSBRE86I0DE20120719

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Swiss Expect CHF1.5B Budget Surplus on Lower Debt Payments

Posted on by

“Switzerland expects to post a budget surplus of about 1.5 billion Swiss francs ($1.53 billion) this year as [artificially low] interest rates helped reduce its debt financing costs, the government said Wednesday.  The Swiss fiscal authorities had projected a balanced budget for 2012, after a surplus of CHF1.9 billion last year, but expenditure will be around CHF800 million less than expected.  The Alpine country’s economy has been one of the best performing in Europe this year, with demand for its high-quality products, particularly watches and luxury goods, helping to push its unemployment rate to 2.7%.”

http://online.wsj.com/article/BT-CO-20120815-704703.html

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Credit Suisse counters critics with $15.6 bln capital plan

Posted on by

http://s2.reutersmedia.net/resources/r/?m=02&d=20120509&t=2&i=604882596&w=460&fh=&fw=&ll=&pl=&r=2012-05-04T143526Z_01_CHM06_RTRIDSP_2_SWITZERLAND

“Credit Suisse (CSGN.VX) unveiled measures to boost its capital base by 15.3 billion Swiss francs ($15.6 billion), a move that was welcomed by a previously critical central bank and left some investors sceptical.  Credit Suisse said that steps including issuing convertible bonds and bringing forward an exchange of hybrid capital notes would boost capital by 8.7 billion francs immediately.  The bonds are being fully underwritten by existing investors such as Qatar and the Olayan Group, as well as new investors like Norway’s pension fund Norges and Singapore-based Temasek.”

http://in.reuters.com/article/2012/07/18/idINL6E8IICF920120718

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Switzerland – the discreet shipping giant

Posted on by

http://freedomwat.ch/wp-content/uploads/2012/08/67169200-331356961.jpg

“With 90 per cent of international trade transported by sea, landlocked Switzerland has grown into the world’s second biggest shipping power and transformed itself into a global raw materials distribution hub.  In May, raw materials giant Trafigura announced that it planned to move part of its Geneva operation to Singapore.  ‘We have been very centralised in Europe, but the world is evolving and the centre of consumption is in Asia and we want to be closer to our customers,’ said Trafigura spokeswoman Victoria Dix.”

http://www.swissinfo.ch/eng/business/Switzerland_the_discreet_shipping_giant.html?cid=33256356

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet