{
DEU

Country

}
switzerland's parliamentary inquiry blames credit suisse collapse on mismanagement
A parliamentary inquiry has attributed the collapse of Credit Suisse in March 2023 to years of mismanagement by its Board of Directors and management, while federal authorities were found not at fault. The report emphasizes the need for improved crisis management and legislative reforms, highlighting delays in decision-making and insufficient supervision by the Swiss Financial Market Supervisory Authority (FINMA). The commission has proposed twenty recommendations to prevent future failures of systemically important banks.
SWI swissinfo.ch
Swiss Franc Novartis AG Credit Suisse Real Estate Fund Siat RUS UKR DEU CHE ECU Sergey Lavrov Show more
Finance & Economy, News Article
11:23 20.12.2024
Swiss regulator criticized for failures leading to Credit Suisse collapse
The Swiss parliament's inquiry into Credit Suisse's collapse criticized the financial regulator Finma for granting inappropriate capital relief, which masked the bank's true financial state. The report highlighted years of mismanagement at Credit Suisse and called for enhanced regulatory powers for Finma, including the ability to impose fines on banks and their executives. It also urged the government to reform the bonus system and improve crisis response measures, paving the way for new financial legislation in Switzerland.
The Edge Malaysia
United States Dollar Credit Suisse Real Estate Fund Siat UBS Group AG CHE DEU Marlene Amstad Mark Branson Urban Angehrn Stefan Walter Show more
Regulatory & Legal, News Article
11:14 20.12.2024
Swiss regulator criticized for mishandling Credit Suisse collapse inquiry findings
The Swiss parliament criticized the leadership of the financial regulator Finma for its role in the collapse of Credit Suisse, highlighting a 2017 decision that obscured the bank's true financial state. The inquiry found that Finma's regulatory filter allowed Credit Suisse to appear adequately capitalized until its demise, ultimately leading to an emergency takeover by UBS. Lawmakers are now advocating for stronger regulatory powers for Finma, including the ability to impose fines on banks and individuals.
BNN Bloomberg
United States Dollar Credit Suisse Real Estate Fund Siat UBS Group AG CHE DEU Marlene Amstad Noele Illien Stefan Walter Nicholas Comfort Mark Branson Urban Angehrn Show more
Regulatory & Legal, News Article
10:30 20.12.2024
Germany demands Worldcoin comply with biometric data regulations within 30 days
Germany's Bavarian Data Protection Authority (BayLDA) has issued an ultimatum to Worldcoin, co-founded by Sam Altman, over non-compliance with GDPR regarding biometric data management. Worldcoin must implement a compliant data deletion procedure within 30 days, allowing users to assert their right to erasure. In response, Worldcoin has appealed the decision, citing its anonymization technologies, while also planning to delete its old system by May 2024, although some illegally collected records remain a concern for regulators.
Cointribune
Worldcoin USD DEU Sam Altman Michael Thomas
Regulatory & Legal, News Article
08:10 20.12.2024
investigation report on credit suisse takeover and eu negotiations conclusion
A commission will present its findings today on the Credit Suisse-UBS merger, focusing on the actions of Swiss authorities during the crisis. Meanwhile, Switzerland and the EU are expected to officially conclude their negotiations, with key decisions on financial contributions and the free movement of persons anticipated. Other notable news includes ongoing investigations into a Chinese ship in the Baltic Sea and a tragic stampede in Nigeria that resulted in the deaths of 35 children.
Neue Zürcher Zeitung
Credit Suisse Real Estate Fund Siat Natoco Co., Ltd. Tamedia AG FIN DNK SWE NGA DEU CHE SYR IRN Janique Weder Oleksandr Usyk Joël François Mesot Jeff Nathanson Bashar al-Assad Marco Kohler Barry Jenkins Ueli Maurer Show more
Finance & Economy, News Article
07:06 20.12.2024
german regulators demand compliance from worldcoin over biometric data concerns
Worldcoin, now rebranded as World, faces scrutiny from German regulators over its biometric data practices, particularly regarding compliance with GDPR. The Bavarian State Office for Data Protection has mandated a data deletion protocol by January 19, highlighting concerns over the collection and storage of sensitive iris data. Despite implementing some compliance measures, World plans to appeal the regulator's decision amid ongoing global privacy concerns.
Decrypt
OpenAI ERC USD PRT KEN FRA DEU Alex Blania Sebastian Sinclair Sam Altman Michael Thomas Show more
Regulatory & Legal, News Article
06:28 20.12.2024
consulting firm adds banking experts to enhance strategic communication capabilities
CCounselors, a consultancy based in Düsseldorf and Zurich, is expanding its partnership with the addition of two banking experts, Katrin Nesemann and Patrizia Ribaudo, starting January 2025. Nesemann brings extensive experience in strategic communication, having held senior roles in various organizations, while Ribaudo, a former financial journalist, has two decades of expertise in corporate communication within the financial sector.
finews.com
United States Dollar Euro Vontobel Holding AG BVI.EU Deutschland GmbH CHE DEU Peter Dietlmaier Richard Lips Christian Lawrence Matthias Goldbeck Dominique Reber Patrizia Ribaudo Katrin Nesemann Michael Schoenenberger Victor Schmid Show more
Finance & Economy, Press Release
06:05 20.12.2024
strategy consulting firm adds banking experts to expand partner team
CCounselors, a strategy consulting firm operating in Switzerland and Germany, is expanding its partnership with the addition of communications experts Katrin Nesemann and Patrizia Ribaudo, effective January 2025. Nesemann brings 30 years of experience in communications and change processes, while Ribaudo contributes 20 years of expertise from her roles in financial journalism and corporate communications.
finews.ch
United States Dollar Euro Vontobel Holding AG BVI.EU Deutschland GmbH DEU Peter Dietlmaier Richard Lips Christian Lawrence Matthias Goldbeck Dominique Reber Patrizia Ribaudo Katrin Nesemann Michael Schoenenberger Victor Schmid Show more
Finance & Economy, Press Release
06:05 20.12.2024
us markets set for losses as government shutdown looms before christmas
U.S. markets are set to open lower as a potential government shutdown looms, following the House's rejection of President-elect Trump's funding plan. Futures for the S&P 500 and Dow Jones fell, while FedEx shares surged 9% after exceeding profit expectations. In Europe, major indices declined, and Japan's inflation data exceeded forecasts, impacting the yen's value.
ABC News
United States Dollar Japanese Yen Euro Australian Dollar Chinese Yuan FedEx Corp U. S. Steel Canada Inc. Retirement Plan for CAW Local 523 Employees of the Former Stelpipe Ltd. NIKE, Inc. FRA KOR GBR USA DEU CHN AUS JPN HKG Donald Trump Carl B. Weinberg Elon Musk Mike Johnson Show more
Finance & Economy, Market Report
05:43 20.12.2024
birkenstock holding plc expands global reach through strategic business channels
Birkenstock Holding plc, operating through Birkenstock Group B.V. & Co. KG, is a global brand known for its unisex footbed products, including popular silhouettes like Madrid, Arizona, and Gizeh. The company boasts a vertically integrated manufacturing base, producing all insoles in Germany and assembling most products there, while also utilizing other EU countries for manufacturing. Birkenstock effectively engages consumers through its direct-to-consumer channel and facilitates brand access via its business-to-business channel.
Zonebourse
Euro United States Dollar Birkenstock Holding plc DEU
Finance & Economy, Market Report
05:07 20.12.2024
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