Credit Suisse to dismantle asset management arm November 20, 2012 Credit Suisse this morning announced it would dismantle its asset management division, and combine it with its private banking arm into a new division. The Zurich-based bank’s new private banking and wealth management division will be led by current head Hans-Ulrich Meister and asset management head Robert Shafir. Meister will run private banking in Switzerland, [...]
Rapid responses November 19, 2012 Easing the burden [Re: We must ditch unfair loopholes – and then cut tax overall, yesterday] You have to ask what purpose corporation tax serves. Companies are mere constructs for the purposes of providing services to the market. By taxing them, the government is penalising a justifiable and desirable activity. In the end, the consumer [...]
Zurich misses profit target due to troubled German business November 15, 2012 ZURICH Insurance shares plunged nearly four per cent to a three month low yesterday after missing third quarter profit targets. The group, which does car and home insurance, saw net profit fall 62 per cent to $477m (£300m) compared to last year. For the nine months up until 30 September this year net profit was [...]
Zurich misses profit target due to troubled German business November 15, 2012 ZURICH Insurance shares plunged nearly four per cent to a three month low yesterday after missing third quarter profit targets. The group, which does car and home insurance, saw net profit fall 62 per cent to $477m (£300m) compared to last year. For the nine months up until 30 September this year net profit was [...]
Bishop accuses finance of being a cuckoo in the nest for Britain October 28, 2012 THE frontrunner to replace Rowan Williams as Archbishop of Canterbury told an audience of financiers in Zurich on Friday that finance in Britain “was in fact the cuckoo in the nest that pushed all the other fledgling industries out to die”. The Right Reverend Justin Welby, who was appointed Bishop of Durham in September 2011, [...]
Bishop accuses finance of being a cuckoo in the nest for Britain October 28, 2012 THE frontrunner to replace Rowan Williams as Archbishop of Canterbury told an audience of financiers in Zurich on Friday that finance in Britain “was in fact the cuckoo in the nest that pushed all the other fledgling industries out to die”. The Right Reverend Justin Welby, who was appointed Bishop of Durham in September 2011, [...]
Financial firms fall out of top brands October 2, 2012 BARCLAYS, Zurich and UBS have dropped out of a list of the world’s top 100 brands, making way for a slew of tech and luxury firms – as well as a well-known nappy maker. “Recent events, such as the notorious Libor scandal, have tarnished the reputation of leading brands,” said Interbrand, which compiled the 13th [...]
Cable plans public bank to offer business loans September 10, 2012 BUSINESS secretary Vince Cable will today outline plans for a government-backed corporate lender, as part of his attempt to reignite the coalition’s support for British industry. Cable will say in a speech at Imperial College that the smaller “challenger banks” such as Co-operative and Aldermore could be employed to operate the new business bank, though [...]
Cable plans public bank to offer business loans September 10, 2012 BUSINESS secretary Vince Cable will today outline plans for a government-backed corporate lender, as part of his attempt to reignite the coalition’s support for British industry. Cable will say in a speech at Imperial College that the smaller “challenger banks” such as Co-operative and Aldermore could be employed to operate the new business bank, though [...]
Infosys tries to buck outsourcing slowdown by buying Swiss firm September 10, 2012 SOFTWARE exporter Infosys said yesterday it had agreed to pay 330m Swiss francs (£218.4m) for Lodestone, a Zurich-based technology consultancy. Infosys, which has seen outsourcing income in its home country of India and in key US and UK markets hit by increased competition and the global slowdown, said the purchase was part of a strategy [...]