A Swiss banker has pleaded guilty in the United States to hiding over $60 million in secret accounts from tax authorities through opaque channels.The Swiss banker admitted to conspiring to defraud the United States by participating in a system that helped wealthy US taxpayers hide their income and assets in offshore accounts.According to court documents, […]
The CEO of UBS, Sergio Ermotti, believes that the new UBS is currently misunderstood but ultimately a positive force. He is a fan of science fiction and is in top rhetorical form as the year comes to an end.Ermotti is unwavering in his belief that the Swiss financial market needs an even larger bank in […]
The historic Baur en Ville hotel in Zurich has reopened its doors after undergoing extensive renovations. The hotel, which was originally opened in 1838 by Johannes Baur, has a rich history and is now under the management of the Chinese luxury hotel group Mandarin Oriental. With a total of 170 rooms, the hotel has been […]
Ordinals inscriptions, also known as “NFTs on Bitcoin,” have become a popular trend in recent weeks. While they are loved by fans and appreciated by miners looking to make a profit, they have also faced criticism from blockchain purists. These inscriptions have experienced a resurgence, driving up Bitcoin transaction fees to an all-time high.Not only […]
Two well-known financial managers in Switzerland have successfully brought a Spac shell company to fruition, a feat that many of their competitors have not been able to achieve. VT5, the first and only Swiss Spac shell company, completed its listing just before the end of the year and ahead of the deadline. It recently took […]
Andrea Orcel, the CEO of Unicredit, has emerged as one of the most successful managers in the banking industry. Under his leadership, the bank’s stock price has surged by 178% since he took office in April 2021, with a staggering 75% increase just this year. Orcel’s ability to “calm” the “addicted investors” through generous stock […]
The UBS bank is reportedly planning to offload a portfolio of loans to Italian companies with low credit ratings. The move comes after the bank acquired Credit Suisse and inherited a number of weak credit positions. The UBS is said to be looking to exit revolving credit facilities for five borrowers with junk ratings. The […]
Sergio Ermotti, the CEO of UBS, is being hailed as the smartest manager in Switzerland. Despite his lackluster rhetoric, he wields immense power and is often referred to as the king of Paradeplatz, the financial district in Zurich. Tomorrow, he will be immortalized as he cuts the ribbon at the grand opening of the Mandarin […]
Bitcoin bull Michael Saylor believes that the approval of a spot Bitcoin exchange-traded fund (ETF) could be the most significant development on Wall Street in 30 years. Saylor compared it to the creation of the S&P index, which allowed investors to trade all 500 S&P companies at once. He explained that a spot Bitcoin ETF […]
Galaxy Digital’s CEO, Mike Novogratz, predicts that a spot Bitcoin ETF will be approved by January 10, 2024. He believes that the approval will happen before this date to avoid any legal trouble with Grayscale and a potential lawsuit. Novogratz suggests that the approval of the ETF will provide more fuel for the crypto market […]
