Bloomberg: Bank Medici gives up banking licence
Bank Medici AG, the Vienna-based private bank crippled by losses related to Bernard Madoff, will give up its banking license…
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Reuters: UBS sells WM branches in America
March 23 (Reuters) – Stifel Financial Corp (SF.N) said it would acquire up to 55 branches of UBS Wealth Management…
ByBitter taste of coke
The arrest of two major cocaine brokers will further sour US-Venezuela relations and tarnish Hugo Chávez’s image. The arrest of…
ByThe Hidden Home Market
For the super-rich, the choicest houses are not those just anyone can see: ‘off market’ is very much on the…
ByThe charm of the medieval
I suffer for Spear’s. The latest outrage was having to review a villa near Perugia, so I took the chance…
ByAlessandro Tome
Alessandro Tome works in the hedge-fund world. He writes the Discriminator column for Spear’s.
ByNYT: Geithner present $1tr rescue package
WASHINGTON The Obama administration formally presented the latest step in its financial rescue package on Monday, an attempt to draw…
BySwiss revenue pools expected to drain away
Swiss and other private banks must expect to lose an additional 25 to 30 percent of their revenue pools this…
ByBloomberg: Swiss banks face creative destruction
March 20 (Bloomberg) — Geneva’s private banks, money managers for the world’s rich since the French Revolution, may see their…
ByCitywire: I.O.U.S.A. video
Described as ‘An Inconvenient Truth for the debt crisis’, this 30 minute film looks at the consequences of America’s ballooning…
ByCaymans agrees tax information exchanges
The Cayman Islands government has announced the extension of comprehensive tax information assistance to seven new countries. The Cayman Islands…
ByTurner review could cost 50,000 jobs
The Centre for Economic and Business Reform, a liberal London-based thinktank, estimates that if this week’s Turner review from the…
ByGuardian: Dubai, the soaring folly, is doomed
Hovering over Dubai is a cloud called nemesis. The first time I saw the place two years ago through a…
ByUBS to buy back EUR 1bn in bonds
UBS is to buy back bonds in a tender worth up to EUR 1 billion. It says the move will…
ByTelegraph: Versace sale raises £7m
The sale of murdered fashion designer Gianni Versace’s possessions raised more than £7 million yesterday. From the Daily Telegraph: The…
ByQuis ducet ipsos duces?
As Juvenal never said, who will lead the leaders? In this case, the leading hotels of the world – or…
ByFT: New Swiss secrecy laws may take years
Switzerland has warned countries against expecting swift results from its decision last week to water down bank secrecy laws, saying…
ByMonaco to open up books to tax scrutiny
Monaco has seen which way the wind is blowing, and has now taken steps to open up its books in…
ByResponse to Swiss secrecy changes
“Many wealthy families will now be feeling very nervous, for fear that information about their wealth will get into the…
ByClimate change? Hot air!
Richard Branson, stop fiddling around trying to make your aeroplanes fly on salad oil, we much prefer good old kerosene.…
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