Tag Archive: Credit Suisse
Rosier economy should boost Swiss housing market
The economic upturn should drive demand for Swiss property after a period of record construction and lower rental prices, a survey claims. The improved economic situation should “revive demand in all segments” of the Swiss housing market, according to Credit Suisse’s Swiss Real Estate Market 2018 reportexternal link, published on Tuesday.
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Swiss Retailers Suffered Lacklustre Sales growth in 2017
Switzerland’s retail sector failed to profit from a weaker franc and improving economy last year and business remains sluggish, according to a Credit Suisse report. Retail sales increased by 0.1% in 2017 after two years’ decline, Credit Suisse noted in its annual industry surveyexternal link published on Tuesday.
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“Gnomes Of Zurich” In Panic As Saudi Corruption Crackdown Sparks Flood Of Money Laundering Inquiries
There are two divergent views on the crackdown on corruption by Saudi Arabia’s crown prince, Mohammed bin Salman (MBS), which led to the arrest and detention of 200 princes, ministers and former ministers. On one hand, it was a masterstroke which will earn political capital with the Saudi people and catalyse an Arab Spring in which MBS is a modernizing reformer who will liberalise Islam.
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For The First Time Ever, The “1 percent” Own More Than Half The World’s Wealth: The Stunning Chart
Today Credit Suisse released its latest annual global wealth report, which traditionally lays out what has become the single biggest reason for the recent "anti-establishment" revulsion: an unprecedented concentration of wealth among a handful of people, as shown in Swiss bank's infamous global wealth pyramid, an arrangement which as observed by the "shocking" political backlash of the past year, suggests that the lower 'levels' of the pyramid are...
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Saudi Billionaires Scramble To Move Cash Offshore, Escape Asset Freeze
Over the weekend, Saudi King Salman shocked the world by abruptly announcing the arrests of 11 senior princes and some 38 ministers, including Prince Al-Waleed bin Talal, the world’s sixty-first richest man and the largest shareholder in Citi, News Corp. and Twitter.
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Credit Suisse Fined $135 million for Malpractices
Credit Suisse bank has been ordered to pay a fine of $135 million (CHF134.5 million) to the US authorities after an enquiry into the Swiss bank’s practices in setting foreign exchange rates. The figure was reached in a consultation between both parties.
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Each Bitcoin Transaction Uses As Much Energy As Your House In A Week
While Bitcoin bulls will probably never have it so good as they have in 2017, we wonder whether many of them have stopped to think about the environmental downside of this roaring bull market. After all, back in the dot.com boom, people had ideas about potential internet businesses, issued pieces of paper representing ownership and watched their prices go parabolic parabolic.
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Credit Suisse targeted for break-up by activist hedge fund
A Swiss hedge fund is poised to launch an activist campaign to break up Credit Suisse, tapping into investor impatience with the progress of the bank’s turnround under chief executive Tidjane Thiam. RBR Capital Advisors, supported by Gaël de Boissard, a former Credit Suisse investment bank co-head, is set to unveil the plan later this week at the JPMorgan Robin Hood investor conference in New York, according to people briefed on it.
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Is The Swiss National Bank A Fraud?
The price of shares in The Swiss National Bank is up 11 days in a row, soaring 150% in the last two months. That sounds like a 'tulip' bubble-like 'fraud'... The SNB is up over 120% in Q3 so far - more than double 'bubble' Bitcoin...
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Hard times continue for Swiss private banks
Over half of private banks in Switzerland analysed by KPMG last year experienced net outflows of client cash. In a difficult period for finance, many could be forced to shut down or be bought out. “Implement truly radical change, or continue to see performance deteriorate.” This was the message of a study released Thursday by audit group KPMG with the University of St. Gallen, evaluating the performance of 85 Swiss private banks.
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Finding a place to rent getting easier in Switzerland
A recent Credit Suisse report, entitled: Tenants Wanted, says capital continues to flow into Swiss real estate, boosting the supply of rental properties. Against a backdrop of negative interest rates at Switzerland’s central bank, investors continue to plough money into constructing new residential properties. At the same time, declining immigration has hit the demand for rental apartments.
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Highest Swiss Property Prices Recorded in Zurich
Zurich remains the dearest location for Swiss property at CHF12,250 ($13,000) per square metre. However, houses in Lucerne have gained the most in value over the past decade, with one square metre costing CHF8,500, up 82% on 2007.
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Swiss firms face greater shareholder opposition
Shareholder rebellion over executive pay at Credit Suisse earlier this year is just one example of growing dissent by Swiss company owners. While annual general meetings are hardly a hotbed of revolutionary unrest, shareholders are slowly - but perceptibly - demanding more accountability.
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Swiss Asset Manager Settles US Tax Evasion Charges
The Geneva asset management firm Prime Partners has agreed to pay $5 million (CHF4.8 million) to the United States to settle charges for tax evasion and assisting US taxpayers in opening and maintaining undeclared foreign bank accounts from 2001 to 2010.
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Can Switzerland Survive Today’s Assault On Cash And Sound Money?
“Switzerland will have the last word,” wrote Victor Hugo in the late 19th century. “It possesses one of the most perfect forms of government in the world.” A contemporary of his, Frederick Kuenzli, a scholar of the Swiss Army, boasted: “No purer type of Republican ideals, no more fixed and devoted adherence to those ideals can be found in all the world than in Switzerland.”
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Swiss banks defy Brexit to recruit in London
At the same time as big global banks are considering alternatives to London in the wake of the Brexit vote, Swiss newspaper Le Matin Dimanche reports, financial institutions are also recruiting new staff in the City. Rather than in commercial banking, however, these employees specialise in private wealth management.
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Swiss Banks Paid Out €1 Billion In Negative Interest Rates In The First Half
Overnight, the Swiss National Bank disclosed the composition and breakdown of its FX reserves as of June 30. There were no notable changes, as the central bank kept most of its asset allocations unchanged from the previous quarter, with equities, government bonds and "other bonds", at 20%, 68% and 12% respectively. There were also no shifts in the currency composition as shown in the table below.
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