Banks leaving Switzerland due to the loss of secrecy in the banking transactions. (Photo : Reuters)The image is a bundle of 100 Swiss francs. Switzerland, the former Mecca for European lenders when it comes to private banking is now hurt with the change in banking secrecy and the rise in compliance.
Industry
Second Summer Box Office Disappointment for Sony As It Eyes Company Spin Off
Sony Pictures entertainments experiences its second summer box office let down at the heels of Loeb's proposal to spin off the company.
MST Capital Pty Led By Gerard Satur Sourced Funds for Baruch Global Macro Fund
Baruch Global Macro Fund to shadow strategies set by Gerard Satur. (Photo : Reuters)Former UBS Trader turned to investors to set up Baruch Global Macro Fund Gerard Satur, former UBS AG (UBSN) trader raised worth AUS $10 Million from various investors to form a global macro strategy group which will commence operations within day.
Ocean Yield IPO Price Cut Attracts More Buyers
Ocean Yeild's initial IPO was cut and now attracts more potential buyers. (Photo : Reuters)The image shows a ship dry docking at a port. The price cut for the initial offer for Ocean Yield caught the attention of potential buyers due to the noticeable cut in the price.
Investment banks accused of conspiracy
The European Union accused 13 investment banks for conniving against rivals in the credit derivatives industry.
Latest News
Naptha supply offered by ONGC to potential buyers end of July (Photo : Reuters)The image shows workers in a gas field. The Oil & Natural Gas Corp, also known as ONGC sold 35,000 metric tons of naphtha which is ready for loading on July 30 to July 31 from its site in Hazira, India.
Asia-pacific investors continue to fret due to Fed’s quantitative easing and China’s economic slowdown.
CDB maintains its Zero bond risk until end of 2013. (Photo : Reuters)China Development Bank maintains zero risk until end of 2013 China Development Bank is keeping its motto of having zero risk when it comes to bonds as compared to commercial banks in China.
Initial public offerings were raised to US$42 billion in the second quarter from the previous US$20 billion made during the first quarter.
Fund firms threatened the privatization of Lloyds Banking Group until rulings are clarified by banks and regulators.
Maria Fekter, Austria's Finance Minister was confident about getting the deal from EU after some negotiation.
The International Monetary Fund said the markets overreacted even if the US Federal Reserve didn't know how to stop buying bonds.
Through rights offering with private investors, Greece's Piraeus Bank would be able to raise Euro 7.33 billion.
General Council for Islamic Banks and Financial Institutions intends to expand to adjacent countries.
