Credit Suisse CEO wants a ‘level playing field’

 

Credit Suisse came out with its 2010 figures yesterday and markets were disappointed. Its shares lost 5.8 percent after Switzerland’s second biggest bank reported a net profit of 5.1 billion francs in 2010—around a quarter less than the previous year. CEO Brady Dougan talks to WRS’s Tony Ganzer about potentially lean years ahead for the Zurich-based financial institution. One reason is that new Swiss rules requiring banks to keep more of their assets in liquid form. While Credit Suisse welcomes tougher regulation, Dougan says it doesn’t want to be put at a disadvantage to other global banks. Tony Ganzer reports:

 

UBS employees at all levels fret for bonuses

 

UBS confirmed yesterday its performance-related bonus pool is 10 percent less than last year—at about 4.3 billion francs. Switzerland’s largest bank says the shrinking bonuses and more regulations will hurt its ability to retain top talent. But lower-level employees worry that changes in compensation rules will cut their pay and hurt morale. WRS’s Tony Ganzer has more:

 

Coffee roasters fret over prices

Wake up, smell the coffee and check your wallet. This week Bern coffee-roasting giant Blaser Cafe is expected to announce higher prices for the coming year. Other roasters have already announced hikes, blaming the price of raw coffee. As WRS’s Tony Ganzer reports, this might not affect the price of your morning cup of java just yet, but roasters are fretting: