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S U B S C R I B E
WRS stories about banks
President calls for trust in Swiss banking after Hildebrand affair
Friday, 13 January, 2012
Trust needs to be restored on the Swiss financial scene. That’s what Swiss President Eveline Widmer-Schlumpf told the international press yesterday in Geneva. For the rest, as WRS’s Lucas Chambers reports, she was keen to turn the page on the currency speculation scandal that cost the Swiss National Bank its president, Philipp Hildebrand, earlier this week:
Friday, 13 January, 2012
Trust needs to be restored on the Swiss financial scene. That’s what Swiss President Eveline Widmer-Schlumpf told the international press yesterday in Geneva. For the rest, as WRS’s Lucas Chambers reports, she was keen to turn the page on the currency speculation scandal that cost the Swiss National Bank its president, Philipp Hildebrand, earlier this week:
'A shame that Mr. Hildebrand resigned'
Tuesday, 10 January, 2012
Swiss National Bank head Philipp Hildebrand resigned on Tuesday after controversial currency trades by his wife. WRS’s Dave Goodman talks to Peter Kunz, professor of business law at the University of Bern, who says he thinks it’s a shame Hildebrand resigned:
Tuesday, 10 January, 2012
Swiss National Bank head Philipp Hildebrand resigned on Tuesday after controversial currency trades by his wife. WRS’s Dave Goodman talks to Peter Kunz, professor of business law at the University of Bern, who says he thinks it’s a shame Hildebrand resigned:
Defending franc at 1.20 after SNB head departs
Tuesday, 10 January, 2012
After weeks of pressure Philipp Hildebrand has finally quit as head of the Swiss National Bank. At a press conference on Tuesday, he said he couldn’t prove that he’d been unaware of a controversial currency trade made by his wife and that he wanted to protect the integrity of the central bank. The Swiss franc did rise fractionally on the news of Hildebrand’s departure but analysts believe that’s just a knee-jerk reaction and there will be no change in National Bank policy over defending the franc. WRS’s Dave Goodman talks to Marc Bürki, CEO of online bank Swissquote in Geneva:
Tuesday, 10 January, 2012
After weeks of pressure Philipp Hildebrand has finally quit as head of the Swiss National Bank. At a press conference on Tuesday, he said he couldn’t prove that he’d been unaware of a controversial currency trade made by his wife and that he wanted to protect the integrity of the central bank. The Swiss franc did rise fractionally on the news of Hildebrand’s departure but analysts believe that’s just a knee-jerk reaction and there will be no change in National Bank policy over defending the franc. WRS’s Dave Goodman talks to Marc Bürki, CEO of online bank Swissquote in Geneva:
Wikirating lets the rest of us rate credit for firms and countries
Monday, 9 January, 2012
With the havoc they cause you would think the last thing the world needs is another credit rating agency. But two entrepreneurs in Switzerland think differently. They’ve created a new online platform for any web user to score countries. They hope it will become an alternative to the big hitters like Moody’s. WRS’s Dave Goodman spoke to one of the men behind the new Wikiratings site, Dorian Credé and asked why we should take this idea seriously:
Monday, 9 January, 2012
With the havoc they cause you would think the last thing the world needs is another credit rating agency. But two entrepreneurs in Switzerland think differently. They’ve created a new online platform for any web user to score countries. They hope it will become an alternative to the big hitters like Moody’s. WRS’s Dave Goodman spoke to one of the men behind the new Wikiratings site, Dorian Credé and asked why we should take this idea seriously:
Expert questions Hildebrand's suitability for top job at SNB
Friday, 6 January, 2012
The president of the Swiss National Bank, Philipp Hildebrand, says he’s done nothing wrong and won’t be resigning following allegations of insider dealing. Speaking to the media yesterday for the first time since the scandal broke, Hildebrand said he’d acted in line with SNB rules when engaging in private currency deals. At the heart of the affair lies a $500,000 currency trade by Hildebrand’s wife—three weeks before the SNB set a minimum exchange rate for the franc against the euro. WRS’s Adam Beaumont spoke to Stewart Hamilton, emeritus professor of accounting at the IMD business school in Lausanne:
Friday, 6 January, 2012
The president of the Swiss National Bank, Philipp Hildebrand, says he’s done nothing wrong and won’t be resigning following allegations of insider dealing. Speaking to the media yesterday for the first time since the scandal broke, Hildebrand said he’d acted in line with SNB rules when engaging in private currency deals. At the heart of the affair lies a $500,000 currency trade by Hildebrand’s wife—three weeks before the SNB set a minimum exchange rate for the franc against the euro. WRS’s Adam Beaumont spoke to Stewart Hamilton, emeritus professor of accounting at the IMD business school in Lausanne:
SNB head still in the hot seat over alleged insider trading
Thursday, 5 January, 2012
The chairman of the Swiss National Bank faces more intense scrutiny later today. Philipp Hildebrand has been accused of buying up dollars to personally benefit from the SNB pegging the Swiss franc to the euro last summer. Cleared by two external investigations last year, he said his wife made the transactions. Hildebrand is expected to react to the latest accusations in a meeting with the press this evening. Yesterday, the Weltwoche magazine announced it had documents to prove it was Hildebrand and not his wife who made the transactions. WRS’s Lucas Chambers asked the magazine’s deputy editor in chief, Philipp Gut, more about these documents. And WRS’s Dave Goodman talks to Rudolf Burger, editor at Der Bund newspaper:
Thursday, 5 January, 2012
The chairman of the Swiss National Bank faces more intense scrutiny later today. Philipp Hildebrand has been accused of buying up dollars to personally benefit from the SNB pegging the Swiss franc to the euro last summer. Cleared by two external investigations last year, he said his wife made the transactions. Hildebrand is expected to react to the latest accusations in a meeting with the press this evening. Yesterday, the Weltwoche magazine announced it had documents to prove it was Hildebrand and not his wife who made the transactions. WRS’s Lucas Chambers asked the magazine’s deputy editor in chief, Philipp Gut, more about these documents. And WRS’s Dave Goodman talks to Rudolf Burger, editor at Der Bund newspaper:
Is Blocher behind insider trading allegations aimed at Hildebrand?
Tuesday, 3 January, 2012
Controversial Swiss People’s Party politician Christoph Blocher is at the centre of a scandal. Over the weekend, two newspapers accused him of being behind a tip-off alleging head of the Swiss National Bank Philipp Hildebrand had been involved in insider trading. The government has confirmed the accusation was made, but has refused to confirm or deny whether Blocher was the informant. According to the allegation, Hildebrand used his position to profit from the SNB’s decision to fix the exchange rate of the Swiss franc at 1.20 against the euro last September. A double investigation has already cleared Hildebrand. WRS’s Pete Forster talks to Beat Kappeler, an economist and journalist with the Neue Zurcher Zeitung:
Tuesday, 3 January, 2012
Controversial Swiss People’s Party politician Christoph Blocher is at the centre of a scandal. Over the weekend, two newspapers accused him of being behind a tip-off alleging head of the Swiss National Bank Philipp Hildebrand had been involved in insider trading. The government has confirmed the accusation was made, but has refused to confirm or deny whether Blocher was the informant. According to the allegation, Hildebrand used his position to profit from the SNB’s decision to fix the exchange rate of the Swiss franc at 1.20 against the euro last September. A double investigation has already cleared Hildebrand. WRS’s Pete Forster talks to Beat Kappeler, an economist and journalist with the Neue Zurcher Zeitung:
Standard & Poor's downgrades UBS and other big banks
Wednesday, 30 November, 2011
Ratings agency Standard & Poor’s have downgraded Switzerland’s largest bank, UBS. The decision came in a review of 37 of the worlds largest banks, and the Swiss bank is not the only one to feel the sting. WRS’s Pete Forster goes through the entire list of big banks, which also includes Bank of America, Citigroup, Barclays, J.P. Morgan and Bank of Scotland to name a few. He also asks Stewart Hamilton, a professor of finance and accounting at the business school IMD in Lausanne, about the time of this downgrade:
Wednesday, 30 November, 2011
Ratings agency Standard & Poor’s have downgraded Switzerland’s largest bank, UBS. The decision came in a review of 37 of the worlds largest banks, and the Swiss bank is not the only one to feel the sting. WRS’s Pete Forster goes through the entire list of big banks, which also includes Bank of America, Citigroup, Barclays, J.P. Morgan and Bank of Scotland to name a few. He also asks Stewart Hamilton, a professor of finance and accounting at the business school IMD in Lausanne, about the time of this downgrade:
Singer splits his life as banker and protester
Monday, 28 November, 2011
Since the start of the year there have been protests criticising the influence of capitalism across the world. Two weeks ago, police ordered the evacuation of the Occupy Zurich protesters who had settled in the city’s Lindenhof park. But there’s also an Occupy Geneva settlement, in the centrally located Parc des Bastions. One of the people you might meet there is Gorka Cruz—who’s not your average protester. He talks to WRS’s Dave Goodman:
Monday, 28 November, 2011
Since the start of the year there have been protests criticising the influence of capitalism across the world. Two weeks ago, police ordered the evacuation of the Occupy Zurich protesters who had settled in the city’s Lindenhof park. But there’s also an Occupy Geneva settlement, in the centrally located Parc des Bastions. One of the people you might meet there is Gorka Cruz—who’s not your average protester. He talks to WRS’s Dave Goodman:
Former UBS banker Birkenfeld questions colleague's lighter sentence
Wednesday, 23 November, 2011
Former UBS banker Bradley Birkenfeld provided information to the U.S. government in 2007 about a colleague, Renzo Gadola, who last week avoided a prison sentence after admitting helping Americans evade their taxes. Prosecutors say Gadola has been cooperating with U.S. investigators ever since his arrest in November 2010, helping to uncover the role that cantonal banks have played in aiding U.S. tax evaders and informing on former colleagues. Gadola has been given a sentence of five years probation, while Birkenfeld continues to serve out the remainder of his 40-month prison term. From Washington reporter Daniel Ryntjes has the story:
Wednesday, 23 November, 2011
Former UBS banker Bradley Birkenfeld provided information to the U.S. government in 2007 about a colleague, Renzo Gadola, who last week avoided a prison sentence after admitting helping Americans evade their taxes. Prosecutors say Gadola has been cooperating with U.S. investigators ever since his arrest in November 2010, helping to uncover the role that cantonal banks have played in aiding U.S. tax evaders and informing on former colleagues. Gadola has been given a sentence of five years probation, while Birkenfeld continues to serve out the remainder of his 40-month prison term. From Washington reporter Daniel Ryntjes has the story:
For money laundering, Switzerland still 'very attractive' for dictators
Friday, 11 November, 2011
Financial regulators are investigating a number of Swiss banks over their handling of assets connected to dictators in North Africa. FINMA says of the 20 banks they audited who froze assets, most of them were properly applying anti-money laundering rules—but there’s concern about four of them. However they go on to say no new changes are needed to the law. Mark Herkenrath tells WRS’s Dave Goodman he disagrees. He’s from Alliance Sud, the Swiss Alliance of Development Organizations:
Friday, 11 November, 2011
Financial regulators are investigating a number of Swiss banks over their handling of assets connected to dictators in North Africa. FINMA says of the 20 banks they audited who froze assets, most of them were properly applying anti-money laundering rules—but there’s concern about four of them. However they go on to say no new changes are needed to the law. Mark Herkenrath tells WRS’s Dave Goodman he disagrees. He’s from Alliance Sud, the Swiss Alliance of Development Organizations:
Four Swiss banks in trouble for handling of dictators' assets
Thursday, 10 November, 2011
Switzerland’s financial regulator FINMA says it’s launched what it calls “administrative proceedings” against four Swiss banks—so far unnamed—after an audit showed they didn’t follow anti-money laundering rules. That is, they didn’t do the proper due diligence in handling dictators’ assets. The audit of twenty banks followed the recent political revolutions in North Africa. WRS’s Alex Helmick speaks with reporter Jordan Davis who’s been following the story:
Thursday, 10 November, 2011
Switzerland’s financial regulator FINMA says it’s launched what it calls “administrative proceedings” against four Swiss banks—so far unnamed—after an audit showed they didn’t follow anti-money laundering rules. That is, they didn’t do the proper due diligence in handling dictators’ assets. The audit of twenty banks followed the recent political revolutions in North Africa. WRS’s Alex Helmick speaks with reporter Jordan Davis who’s been following the story:
Worries fester over Swiss economy amid job cuts
Wednesday, 2 November, 2011
In recent days, the media has reported a spate of job cuts in some of Switzerland’s best known companies—from banking giant Credit Suisse to tech firm Kudelski and pharmaceutical heavyweight Novartis. So what do these cuts mean for Switzerland’s economy? Are the cutbacks the start of a trend towards recession? WRS’s Dave Goodman talks to Rafael Lalive, professor of economics at the University of Lausanne’s Faculty of Business and Economics and José Corpataux, an economist and Secretary General of the Swiss Federation of Trade Unions:
Wednesday, 2 November, 2011
In recent days, the media has reported a spate of job cuts in some of Switzerland’s best known companies—from banking giant Credit Suisse to tech firm Kudelski and pharmaceutical heavyweight Novartis. So what do these cuts mean for Switzerland’s economy? Are the cutbacks the start of a trend towards recession? WRS’s Dave Goodman talks to Rafael Lalive, professor of economics at the University of Lausanne’s Faculty of Business and Economics and José Corpataux, an economist and Secretary General of the Swiss Federation of Trade Unions:
Big bank job cuts—a temporary downturn?
Monday, 31 October, 2011
Credit Suisse has announced the elimination of 1,500 jobs. This follows on from the 2,000 announced in August and comes after UBS cut 3,500 jobs in recent weeks. WRS’s Pete Forster called up banking analyst Andreas Venditti with Zurich Cantonal Bank and asked him why things are looking so grim for Credit Suisse:
Monday, 31 October, 2011
Credit Suisse has announced the elimination of 1,500 jobs. This follows on from the 2,000 announced in August and comes after UBS cut 3,500 jobs in recent weeks. WRS’s Pete Forster called up banking analyst Andreas Venditti with Zurich Cantonal Bank and asked him why things are looking so grim for Credit Suisse:
