Money

Swiss parliament rejects Credit Suisse rescue package

Published

2 years ago

April 13, 2023

ticker NEWS

The package was initially approved by the Swiss upper house, but rejected by the lower house

Switzerland’s parliament rejected a multibillion dollar Credit Suisse rescue package.

The deal included close to $121 billion in financial guarantees.

The vote was largely symbolic as the government’s commitment to financial guarantees cannot be overturned.

Authorities used an emergency law to largely bypass the legislative body last month to rescue the lender.

The move angered politicians, and saw widespread criticism in Switzerland.

It was the focus of a strident debate between Swiss lawmakers on Tuesday, which ran into the early hours.

“A Credit Suisse bankruptcy would have had disastrous consequences for the country, for companies, for private clients, but also for the reputation of Switzerland,” Swiss President Alain Berset said.

“So, in this context, we had to act fast, the federal council had to use the emergency law,”

Lawmakers were recalled to the country’s capital Bern this week for the rare extraordinary session to discuss Credit Suisse’s rescue.

The lender was taken over by rival UBS for just over $3 billion last month.

It was also backed up by $277 billion in guarantees and support.

Leaders

Niche accountants proving essential to e-commerce success

Published

4 days ago

October 9, 2024

ticker NEWS

Expert explores the key benefits of partnering with accountants who specialise in niche industries.

In today’s fast-paced digital world, having an accountant who understands the intricacies of e-commerce can make all the difference in your business’s success.

Specialist accountants understand the specific needs of e-commerce businesses, helping to maximise tax savings, streamline operations, and improve financial health.

Niche accountants can identify opportunities to scale, optimise profit margins, and implement strategies that align with your business goals, ultimately drive growth.

Chris Rivera, Founder of The Ecommerce Accountants, joins to share his key insights into the industry.

#featured

Money

Amazon’s 2024 Prime Day expected to make huge impact on tech sector sales

Published

4 days ago

October 9, 2024

ticker NEWS

Market experts believe Amazon’s upcoming event will drive a surge in sales, benefiting Amazon’s stock and boosting consumer tech companies that sell through its platform.

Experts predict that a short-term rally in retail and tech stocks could be seen as revenue spikes.

Founder/CEO of Unearthing Opportunities, and Board Advisor to Power Hero, Bradley A Gastwirth joins to unpack the latest market moves. #featured #trending

Money

Financial stress deemed a leading cause of relationship breakdowns

Published

6 days ago

October 8, 2024

ticker NEWS

Expert insights on preventing financial conflicts and keeping relationships thriving

Investment Insights is an informative and inspiring interview-style show that dives into the world of money management and wealth creation, making complex financial concepts accessible to all.

Hosted by the Founder of The Investor’s Way, Andrew Woodward.

In this episode, Andrew is joined by Dee Tozer, Couples Master Coach.

#investment insights