Switzerland Financial News

25.07 / 21:17

markets CFTC SEC Bitcoin Bitcoin Price Dollar Bitcoin price is down, but data signals that $30K and above is the path of least resistance

On July 24, Bitcoin experienced a flash crash, plummeting to $29,000 in a movement now attributed to significant Bitcoin holders potentially liquidating their positions.

25.07 / 21:15

COST ViacomCBS UBS UBS fined nearly $400 million related to Credit Suisse's relationship with failed fund Archegos

Swiss banking giant UBS will pay nearly $400 million in fines to U.S., Swiss and U.K. banking authorities for the management failures of Credit Suisse, which UBS bought in June

25.07 / 20:01

AXY Aware awards shortlist Aditya Birla ARC, Reliance ARC & Arcil in shortlist for Vidarbha Inds

Vidarbha Industries Power will hold a Swiss challenge auction on August 8 among the three shortlisted asset reconstruction companies (ARCs), said people aware of the development. Lenders have shortlisted Aditya Birla ARC, Avenue Capital-backed Asset Reconstruction Company of India (Arcil) and Reliance ARC as eligible candidates to submit counter offers for the sale of the distressed power company, the people said. Banks have preferred CFM Asset Reconstruction Company, an anchor bidder, to the promoter Anil Ambani group, for the proposed loan auction under a Swiss challenge mechanism, as first reported by ET.

25.07 / 19:13

Provident country cover Reserve What has flipped the forex reserve decline of India?

RBI. Dollar appreciated after the US Fed hiked rates and India’s balance of payment (BoP) saw lower net capital inflows. This trend reversed with the dollar index peaking last October as expectations of further Fed rate hikes waned.

25.07 / 18:31

NASDAQ schroders State Street Wall Street Grapples with Crypto Custody: Nasdaq's Decision Sparks Activity

A decision by the Nasdaq stock exchange to shelf its plans to launch a crypto custody service has led other US firms to also reconsider their planned push into crypto.

25.07 / 12:41

UBS Credit Suisse sued for $100m by hedge fund over margin call

Credit Suisse has been hit with a claim for more than $100m by South African hedge fund M1, which has accused the bank of making a wrongful margin call.

25.07 / 11:05

companies liontrust GAM NewGAMe and Bruellan NewGAMe information Investor group accuses GAM of spreading 'misleading information' about counteroffer

'NewGAMe strongly believes that it is in the interest of shareholders not to tender to the Liontrust offer and to remain invested in GAM with a new team on board who can successfully turnaround the company and return it to profitability and growth,' the group added.

25.07 / 09:59

COST UPS Provident Digital NASDAQ Bitcoin Investors want crypto custodians and Wall St. wants a slice of that

Wall Street activity in the battle to provide custody services for the more than trillion-dollar digital-asset market is heating up rapidly, and in surprising ways, turning what would typically be considered a sleepy area of finance into one of the most lively sectors.

25.07 / 08:43

COST UPS Microsoft ExxonMobil Occidental show Can carbon removal become a trillion-dollar business?

Climeworks, a Swiss firm, Global Thermostat, a Californian one, and myriad startups worldwide, are attracting capital. Occidental plans to build 100 large-scale DAC facilities by 2035. Others are trying to mop up CO2 produced by power plants and industrial processes before it enters the atmosphere, an approach known as carbon capture and storage (CCS).

25.07 / 08:41

regulation UBS companies Credit Suisse PRA FINMA Fine Credit Suisse receives record fine over Archegos failures

Credit Suisse provided prime brokerage services to Archegos and entered into equity total return swaps with the family office, booking eventual losses of $5.1bn as a result of its collapse.

25.07 / 02:29

Progressive Action BWF performer open Japan Open: All eyes on struggling PV Sindhu, in-form Satwik-Chirag

PV Sindhu will be aiming to regain her form while the red-hot men's doubles duo of Satwiksairaj Rankireddy will aim to carry forward their momentum after the Korea Open as the Indian contingent looks forward to the Japan Open, set to take place from July 25 to July 30. Satwiksairaj and Chirag, currently ranked at number three in Badminton World Federation Rankings (BWF), clinched the Korean Open title on Saturday after overcoming a challenge from top-ranked Indonesian pair of Fajar Alfian and Muhammad Rian Ardianto in the final. As per Olympics.com, this was Satwik-Chirag's third BWF title win this year after the Swiss Open and Indonesia Open.

24.07 / 19:09

UBS Ex-UBS wealth chief Tom Naratil joins Lightyear Capital

Tom Naratil, a former senior executive at UBS, is back in the wealth management industry, this time as an operating partner for a fund managed by Lightyear Capital, a private equity manager that has long focused on private investments in wealth management shops and broker-dealers.

24.07 / 18:33

COST UPS Racing Remark Enterprise Adani group's Ambuja-ACC, JK Lakshmi lead race to acquire Sanghi Cement

Ambuja-ACC and JK Lakshmi Cement are ahead in the race to acquire Ahmedabad-based Sanghi Cement which is being sold for an estimated enterprise value of Rs 6,000 crore, people familiar with the matter said. The two frontrunners are expected to start due diligence on the company soon and, if it is satisfactory, place formal offers over the next two months, they said.Shree Cement, Nirma Group and Dalmia Bharat had also submitted proposals to acquire a controlling stake in Sanghi Cement company, but are no longer in the running, the people said. Sanghi Cement is controlled by the family of Ravi Sanghi, promoters of Sanghi Industries.

24.07 / 10:57

Web3 NFTS The Sandbox McDonald’s Hong Kong Collaborates with The Sandbox to Launch McNuggets Land in Web3

McDonald's Hong Kong collaborated with The Sandbox to create McNuggets Land, an immersive Web3 experience to commemorate the 40th anniversary of Chicken McNuggets.

24.07 / 10:51

Binance SEC Platform coinbase Bitcoin show track Some Binance.US Crypto Trading Was a Mirage, the SEC Alleges

When crypto company Binance launched its U.S. exchange in 2019, almost $70,000 of bitcoin changed hands in the first hour. But the demand didn’t come from external traders.

24.07 / 07:49

companies Acquisition liontrust GAM NewGAMe Liontrust waives FMS sale condition from GAM offer

The sale to Carne Group will still go through and is expected to complete in Q4 2023.

24.07 / 06:41

Fighting Takeover Liontrust pushes back GAM offer deadline as it fights to finish takeover

Liontrust has given shareholders an extra three days to accept its takeover offer for GAM as it looks to force through a deal against continued opposition from some vocal critics.

24.07 / 01:19

Lowe's Reuters Strategy BNI Yen pressured as traders wait on policy decisions

By Tom Westbrook

23.07 / 18:11

UPS show performer Swiss Indians snap up Swiss luxury watches in H1

₹933 crore) in the January to June period from 81.2 million francs a year earlier, showed data from the Federation of the Swiss Watch Industry. Imports surged 67% from 59.1 million francs in the six months of 2021. Notably, a significant portion of the 2023 imports of 20 million Swiss francs, was seen in June alone, indicating a robust demand for luxury timepieces.

23.07 / 06:23

Citi FIVE Art Progressive performer classical dance S20-G20 Summit: Isha Yoga Center brings a new impression of India, say G20 Delegates

The event which was conducted from July 21 to July 22, 2023, around 35 foreign delegates and 65 Indian delegates from reputed institutes around the world gathered to discuss the themes of Clean Energy for a Greener Future, Universal Holistic Health, and Connecting Science to Society & Culture. The delegates included experts from The Royal Society, United Kingdom; National Academy of Sciences, USA; International Science Council, France; CERN, Switzerland; Indian National Science Academy amongst others.

21.07 / 12:57

UPS Waves Extreme Fighting country Where Heat Waves Lead, Food Inflation Will Follow

For more clues about how extreme weather might fuel food inflation, watch the price of goods made with olives and other commodities following this month’s heat waves. This summer is shaping up to be one of the hottest on record. In Phoenix, temperatures reached an all-time high of 118 degrees Fahrenheit in recent days.

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