Category: Financial Institutions
-
Up To 30 Percent Of Jobs Eliminated At UBS-Credit-Suisse!
•
In Switzerland, up to 11,000 employees could be affected by the UBS takeover of Credit Suisse. UBS Group plans to cut its workforce by between 20% and 30%, slashing as many as 36,000 jobs worldwide, Swiss newspaper Sonntagszeitung reported, citing a senior manager at UBS.
-
Shortsellers Vs Jack Dorsey’s Fintech Block!
•
Shares of Jack Dorsey’s Fintech Block plunged about 18% this week after short-seller Hindenburg Research accused the company of systematically facilitating fraud and violate regulatory rules.
-
Deutsche Bank Under Pressure: Now Chancellor Scholz Speaks Out!
•
After the laboriously negotiated takeover of the ailing Credit Suisse by the Swiss central bank UBS, unrest continues to reign in the financial markets. The Deutsche Bank share is one of the biggest losers on the DAX ahead of the weekend. However, the recent slump in the share price offers…
-
CoCo Bonds Brash – 16 Billion Francs Declared Worthless!
•
Prices of AT1 bonds have come under pressure on Monday. The reason: with UBS’s takeover of Credit Suisse, Additional Tier 1 bonds worth around 16 billion francs were declared worthless.
-
TARGET: A New System To Settle Payments In Real Time!
•
TARGET, a new system that allows the settlement of payments in euros and in real-time, which provides greater security, went live today, indicated the Bank of Portugal (BdP).
-
The Credit Suisse Bail-Out Will Not End the Banking Crisis!
•
UBS is taking over its rival Credit Suisse, which has slid deep into crisis. Bantleon Chief Economist Daniel Hartmann nevertheless sees no end to the banking crisis and warns of significant setbacks on the stock market. The Swiss Market Index (SMI) has lost almost 6% in the last four weeks.
-
DekaBank Selects Swiss Crypto Specialist Metaco To Manage Digital Asset Offerings!
•
DekaBank manages €360 billion in assets and plans to offer crypto products to its institutional clients. The German lender is joining Societe Generale and Citibank in selecting Swiss-based Metaco to develop its digital asset offering for institutional clients, according to a CoinDesk report.
-
German EY To Cut 40 Partners And 380 Full-Time Jobs!
•
The audit and consulting firm EY, which hit the headlines because of the Wirecard scandal, want to part with 40 of its 800 partners and hundreds of employees in Germany. At the same time, it intends to hire 2000 new employees. According to the Financial Times, most of the 40…
-
Deutsche Bank Must Increase Cash Buffers For High-Risk Transactions!
•
The European Central Bank (ECB) has ordered Deutsche Bank to back its business with more equity. As a result, the individual capital surcharge for the bank will rise by 0.2 percentage points to 2.7 percentage points. Under the ECB decision, Deutsche Bank must report a Common Equity Tier 1 ratio…
-
TX Ventures Launches Its Own FinTech Investment Fund With A Volume Of CHF 100 Million.
•
As the independent and return-oriented venture arm of TX Group, TX Ventures has built a strong investment track record with investments such as Challenger bank neon, alternative investment platform Stableton, real estate price intelligence software Pricehubble and exits such as mortgage platform Moneypark.