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Articles for Francs

Bankers who helped Putin's friend move money via Swiss bank accounts lose appeal
5 months, 4 weeks ago

Bankers who helped Putin's friend move money via Swiss bank accounts lose appeal

Hindustan Times  

By John Revill ZURICH - A Zurich court upheld on Tuesday a judgment against four bankers convicted last year of failing to perform due diligence in financial transactions after helping a friend of Russian President Vladimir Putin move millions of francs through Swiss bank accounts. The three Russians and a Swiss citizen helped Sergey Roldugin, a concert cellist who has …

Court Bank Putin Swiss Zurich Roldugin
8 watches owned by F1 great Michael Schumacher fetch more than $4 million at auction in Geneva
7 months, 1 week ago

8 watches owned by F1 great Michael Schumacher fetch more than $4 million at auction in Geneva

Associated Press  

GENEVA — Eight watches belonging to auto racing icon Michael Schumacher sold Tuesday for nearly 4 million Swiss francs at a Geneva auction. Journe, the Vagabondage 1, features 18-carat white gold, a red watch face and images of a Ferrari logo, Schumacher’s racing helmet and a “7” — to honor his seven World Championship victories. While most of the eight …

Geneva Watches Million Ferrari Schumacher
A luxury Swiss watchmaker is hitting refresh
8 months, 3 weeks ago

A luxury Swiss watchmaker is hitting refresh

Live Mint  

Luxury watchmaker Favre Leuba plans to unveil more than two dozen timepieces later this year, priced as much as 24,000 Swiss francs, as part of a brand relaunch that seeks to expand the Swiss pioneer’s appeal beyond its majority Indian consumer base. India’s Tata conglomerate acquired the dormant Favre Leuba brand in late 2011 and launched new watches in India …

India Favre Watch Swiss Hoffman Hoffmann Favre Leuba
Swiss stars Odermatt, Gut-Behrami top prize money list for Alpine skiing’s World Cup circuit
8 months, 4 weeks ago

Swiss stars Odermatt, Gut-Behrami top prize money list for Alpine skiing’s World Cup circuit

Associated Press  

GENEVA — Swiss stars Marco Odermatt and Lara Gut-Behrami earned the most money on Alpine skiing’s World Cup circuit this season, although the two overall champions made less than the record $1 million totals of one year ago. Odermatt again won 13 races to earn 810,000 Swiss francs in prize money, compared to his total of 941,200 Swiss francs last …

World Cup Swiss Prize Money Francs Odermatt Money List
CONCACAF Nations League final twice stopped because of homophobic chants in pro-Mexican crowd
8 months, 4 weeks ago

CONCACAF Nations League final twice stopped because of homophobic chants in pro-Mexican crowd

Associated Press  

ARLINGTON, Texas — The U.S.-Mexico CONCACAF Nations League final match was suspended in the late stages for the second straight year because of homophobic chants by pro-Mexican fans. Canadian referee Drew Fischer stopped play in the 88th minute of the United States’ 2-0 victory in Sunday night’s final, played before a crowd of 59,471 at AT&T Stadium. “It’s unsafe and …

Fifa Minute Mexican Nca Concacaf
FIFA president Infantino got 33 per cent raise in pay deal around $4.6 million in Women’s World Cup year
9 months, 1 week ago

FIFA president Infantino got 33 per cent raise in pay deal around $4.6 million in Women’s World Cup year

The Hindu  

FIFA raised president Gianni Infantino’s base salary by 33% last year to lift his total pay package to more than 4.13 million Swiss francs, football’s governing body said in its financial report. FIFA’s typically conservative projection did not include income for the 32-team men’s Club World Cup that launches next year in the U.S. FIFA paid its CEO-like secretary general …

Salary Football World World Cup Pay President Million
FIFA gives president Infantino 33% raise in pay deal worth $4.6 million in Women’s World Cup year
9 months, 1 week ago

FIFA gives president Infantino 33% raise in pay deal worth $4.6 million in Women’s World Cup year

Associated Press  

GENEVA — FIFA raised president Gianni Infantino’s base salary 33% last year to lift his total pay package to more than 4.13 million Swiss francs, soccer’s governing body said in its financial report. FIFA’s typically conservative projection did not include income for the 32-team men’s Club World Cup that launches next year in the U.S. FIFA paid its CEO-like secretary …

Salary World World Cup Pay Soccer Cup Swiss
Julius Baer CEO resigns as Swiss bank announces plans to quit private debt business
10 months, 3 weeks ago

Julius Baer CEO resigns as Swiss bank announces plans to quit private debt business

Associated Press  

GENEVA — Julius Baer says its CEO is resigning and the Swiss bank is quitting the private debt business as well as setting aside more than a half-billion Swiss francs reportedly over its exposure to bankrupt Austrian asset manager Signa. Zurich-based Julius Baer said it was exiting the private debt business and the annual results reflected net credit losses of …

Bank Debt Private Signa Julius Baer Julius Baer
Brazil and Argentina fined for fan brawl at Maracana Stadium before World Cup qualifying game
11 months, 1 week ago

Brazil and Argentina fined for fan brawl at Maracana Stadium before World Cup qualifying game

Hindustan Times  

The Brazilian and Argentine soccer federations were both fined by FIFA on Wednesday for a brawl between rival fans ahead of their World Cup qualifying game in November. FILE - Police break up a fight between Brazilian and Argentinian fans that broke out prior to a qualifying soccer match for the FIFA World Cup 2026 The FIFA disciplinary panel fined …

World Game World Cup Brazil Fifa Cup Fan
Brazil, Argentina fined for fan brawl at Maracana Stadium before World Cup qualifying game
11 months, 1 week ago

Brazil, Argentina fined for fan brawl at Maracana Stadium before World Cup qualifying game

The Hindu  

The Brazilian and Argentine football federations were both fined by FIFA on Wednesday for a brawl between rival fans ahead of their World Cup qualifying game in November. Argentina was fined 20,000 Swiss francs for “lack of order or discipline in or around the stadium.” Argentina also was ordered to spend 50,000 Swiss francs on anti-discrimination education projects because of …

World Game World Cup Brazil Fifa Cup Swiss
The international Red Cross cuts budget, staffing levels as humanitarian aid dries up
1 year, 3 months ago

The international Red Cross cuts budget, staffing levels as humanitarian aid dries up

Associated Press  

GENEVA — The part of the international Red Cross that deals with conflict and prisoners of war announced Monday it will trim its projected budget by about one-eighth next year and cut nearly 20% of staff at its headquarters. The International Committee of the Red Cross, which among other things has focused on detainees on both sides of Russia’s war …

Humanitarian Aid Red Aid Red Cross
Switzerland: Brazen thieves conquer challenging climbing route to plunder donation box
1 year, 3 months ago

Switzerland: Brazen thieves conquer challenging climbing route to plunder donation box

Firstpost  

The targeted box is the property of a nearby mountaineering club, entrusted with upkeeping Switzerland’s lengthiest safeguarded climbing route, situated along the Gemmi pass above the village of Leukerbad Switzerland has been left astounded as audacious thieves successfully conquered one of the nation’s most formidable protected climbing routes. The targeted box is the property of a nearby mountaineering club, entrusted …

Club Switzerland Box Climbing Donation Box Climbing Route
UBS completes takeover of Credit Suisse in deal meant to stem global financial turmoil
1 year, 6 months ago

UBS completes takeover of Credit Suisse in deal meant to stem global financial turmoil

Associated Press  

BERLIN — UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country’s two largest banks in a bid to safeguard Switzerland’s reputation as a global financial center and choke off market turmoil. A statement from the bank said that “UBS …

Global Financial Credit Billion Switzerland Ubs Credit Suisse
Over $68 billion withdrawn from Swiss' Credit Suisse ahead of UBS merger
1 year, 7 months ago

Over $68 billion withdrawn from Swiss' Credit Suisse ahead of UBS merger

Hindustan Times  

Tens of billions were withdrawn from Credit Suisse in the first three months of 2023, the bank's earnings report showed Monday, providing clues to the towering challenges ahead as UBS prepares an emergency takeover. The bank also reported deceptively bloated net profits for the quarter, Read here: Credit Suisse rescue package rejected by Swiss parliament Switzerland's long-time second largest bank …

Credit Bank Billion Quarter Switzerland Ubs Swiss
Credit Suisse sees outflows worth $69 billion in Q1
1 year, 7 months ago

Credit Suisse sees outflows worth $69 billion in Q1

Live Mint  

Credit Suisse Group AG reported 61.2 billion francs of outflows in the first quarter and took a large writedown at its wealth management unit, underscoring the challenge for UBS Group AG in retaining key clients and assets after the emergency takeover. While Credit Suisse said that outflows have moderated not yet reversed, it also lost about 6.9 billion of outflows …

Wealth Credit Bank Billion Ubs Swiss Credit Suisse
Credit Suisse investors sue after facing billions in losses
1 year, 8 months ago

Credit Suisse investors sue after facing billions in losses

Associated Press  

LONDON — A group of Credit Suisse investors have sued Swiss financial regulators after a government-engineered takeover of the struggling bank by rival UBS left them with billions in losses. The investors are contesting an order by the Swiss Financial Market Supervisory Authority, or FINMA, that wiped out about 16 billion Swiss francs in higher-risk Credit Suisse bonds as part …

Financial Credit Bank Billion Switzerland Swiss Bonds
Credit Suisse rescue rebuked by half of Swiss parliament
1 year, 8 months ago

Credit Suisse rescue rebuked by half of Swiss parliament

Associated Press  

GENEVA — Switzerland’s lower house of parliament issued a searing — though symbolic — rebuke Wednesday of an emergency plan spearheaded by the executive branch to prop up embattled Credit Suisse and shepherd it into a takeover by Swiss banking rival UBS. The National Council, through an unusual left-right alliance, voted twice over the last day to reject government guarantees …

Credit Billion Banks Parliament Switzerland Ubs Swiss
Swiss cut up to $66M in bonuses for top Credit Suisse execs
1 year, 8 months ago

Swiss cut up to $66M in bonuses for top Credit Suisse execs

Associated Press  

GENEVA — The Swiss government says it’s ordered cuts to the bonuses of top executives of Credit Suisse, with nearly 1,000 managers being “deprived” of tens of millions combined as the troubled bank heads toward a forced merger with rival UBS. The rescue capped years of trouble at Credit Suisse — among 30 banks worldwide considered “systemically important” — after …

Cut Ubs Swiss Credit Suisse Million Francs
'Truly sorry': Credit Suisse chiefs apologise to angry shareholders
1 year, 8 months ago

'Truly sorry': Credit Suisse chiefs apologise to angry shareholders

Firstpost  

The 167-year-old bank’s final AGM was the first chance Credit Suisse shareholders had to voice their frustrations, and some were in tears as they counted the cost of the bank’s implosion Zurich, Switzerland: Credit Suisse chairman Axel Lehmann said Tuesday he was “truly sorry” that the beleaguered bank could not be saved as he faced angry and tearful shareholders whose …

Credit Shareholders Bank Switzerland Ubs Swiss Lehmann
4 bankers convicted over Swiss account of longtime Putin pal
1 year, 8 months ago

4 bankers convicted over Swiss account of longtime Putin pal

Associated Press  

GENEVA — Four former bankers with the Swiss affiliate of a key Russian bank were found guilty Thursday of failing to properly check accounts opened in the name of a Russian cellist with longtime ties to President Vladimir Putin. The verdict follows a one-day trial on March 8 based on information about secret financial flows revealed in the Panama Papers …

Putin Russian Swiss Account Accounts Roldugin Gazprombank
Credit Suisse accessed billions in liquidity last weekend, says Swiss finance minister
1 year, 8 months ago

Credit Suisse accessed billions in liquidity last weekend, says Swiss finance minister

Firstpost  

Finance Minister Karin Keller-Sutter said ‘it is to be assumed’ that the figure was above 50 billion Swiss francs, but said the Swiss National Bank had the exact number Zurich: Credit Suisse tapped the Swiss National Bank for “a large multi-billion amount” last weekend to secure its liquidity, the country’s finance minister Karin Keller-Sutter told Swiss broadcaster SRF on Saturday. …

Bank Swiss Credit Suisse 50 Billion
Credit Suisse deal wipes out high-risk debt holders
1 year, 9 months ago

Credit Suisse deal wipes out high-risk debt holders

Firstpost  

Zurich, Switzerland: Holders of $17.3 billion worth of high-risk debt at troubled lender Credit Suisse will lose their investment as part of its rescue merger with Swiss rival UBS, regulators said. Swiss authorities required that 16 billion Swiss francs in so-called additional tier 1 bonds be written down in the mega-merger that was announced late Sunday. But Swiss authorities ordered …

Credit Bank Ubs Credit Suisse Suisse Swiss Francs
Credit Suisse opposes ‘too low’ offer of $1 bn by UBS: Report
1 year, 9 months ago

Credit Suisse opposes ‘too low’ offer of $1 bn by UBS: Report

Hindustan Times  

UBS Group AG is offering to buy Credit Suisse Group AG for as much as $1 billion, a deal that the troubled Swiss firm is pushing back on with backing from its biggest shareholder. Credit Suisse, which ended Friday with a market value of about 7.4 billion francs, believes the offer is too low and would hurt shareholders and employees …

Credit Ubs Swiss Credit Suisse Suisse
UBS to buy Credit Suisse for $3.24bn in government-brokered deal
1 year, 9 months ago

UBS to buy Credit Suisse for $3.24bn in government-brokered deal

Al Jazeera  

Authorities had been scrambling to rescue Credit Suisse before financial markets reopened on Monday. Switzerland’s largest bank, UBS, has agreed to buy Credit Suisse for 3 billion Swiss francs, officials from the banks have said, in a deal designed to contain a widening crisis of confidence in global finance. The agreement, announced late on Sunday, includes 100 billion francs in …

Credit Bank Ubs Credit Suisse Suisse Swiss Central