Swiss banks are lending hands for Germany And Austria in the bitcoin industry.
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Swiss government is currently undergoing investigations to probe fund of the 1MDB
Earlier this month, Chinese state-owned company ChemChina reached an acquisition deal of $43 billion with Swiss company Syngenta. After clearing regulation requirements in China, ChemChina is now seeking out loans of more than $35 billion from bankers to fund the purchase.
Both ChemChina and Syngenta have agreed on the amount of $34 billion for ChemChina to acquire the Swiss company. The acquisition, if completed, would be the biggest foreign purchase ever made by a Chinese company. However, the trend shows that Chinese company are showing interest in investing overseas, especially in the Western countries.
Previously, the company has also purchased German's KraussMaffei Group. Also, Chinese companies investment overseas is growing.
When the Swiss central bank abandoned its cap on the franc back in January, corporate Switzerland warned of an economic "tsunami" that would hit exports, hammer jobs and plunge the Alpine nation into a deep recession.
Credit Suisse (CSGN.VX) is bringing in Tidjane Thiam, the head of British insurer Prudential (PRU.L), as its new chief executive to help drive the Swiss bank's push into wealth management in emerging markets.
HSBC (HSBA.L), in the spotlight after details emerged about how its Swiss unit allegedly helped clients dodge taxes, isn't the troublemaker it is currently depicted as, the head of a rival private bank was quoted saying on Saturday.
A former boss of HSBC, Stephen Green, has stepped down from his position with a financial services lobby group after allegations that the bank helped people dodge taxes.
European stocks dipped on Friday, with regional indexes pausing just below recent multi-year highs as investors looked to the January U.S. non-farm payrolls report due later in the session.
Asian shares edged higher in early trade on Friday and oil prices continued to rebound, even as investors remained wary ahead of the key U.S. nonfarm payrolls report for January later in the session.
The Swiss currency shock has raised an awkward question many investors have been fearful of asking - what if central banks become as unpredictable and fallible as they are powerful?
Gold prices tumbled on Monday after Swiss voters overwhelmingly rejected proposals to boost gold reserves in a referendum, joining the broad rout in commodities that sent oil prices to five-year lows and copper to four-year lows.
The U.S. dollar held near a six-year peak against the yen early on Thursday and powered to a seven-month high on its New Zealand peer, which fell after the country's central bank said its current level is "unjustified and unsustainable".
Swisscom's profit plunged by 6.8% in the second quarter as it looks for new CEO of the company.
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