Swiss Airlines Faces Criticism for Declining Service and Ratings

Swiss International Air Lines has fallen to 12th place in airlineratings.com’s rankings, reflecting a decline in service quality. Complaints from passengers highlight issues such as inadequate catering, overbooking, and worn business class seats, while a recent emergency incident has further tarnished its reputation. The airline’s hybrid model resembles low-cost carriers on short-haul flights, raising concerns about its commitment to maintaining Swiss quality.

read more

Top Gold Coins to Invest in for 2025

Investing in gold coins is considered one of the safest financial strategies, with several popular options available. Notable coins include the American Gold Eagle, Canadian Gold Maple Leaf, and the Saint Gaudens Double Eagle, each offering unique designs and high purity levels. The ideal size for investment is a 20-gram gold coin, making it a practical choice for buyers.

read more

Kraken to Delist Tether and Four Stablecoins in Europe by March 2025

Kraken is set to delist Tether’s USDT and four other stablecoins in Europe to comply with the EU’s Markets in Crypto-Assets Regulation (MiCA), with the full delisting effective March 31, 2025. The process will be gradual, starting with margin pairs moving to “reduce-only” mode on February 13, followed by “sell-only” mode on February 27, and halting all spot trading by March 24. This decision affects clients in the European Economic Area, with the aim of ensuring compliance and maintaining a stable trading environment.

read more

Wine and Dining Experiences in the Austrian Ski Resorts of Ötztal

In the Ötztal region, ski resorts Sölden and Gurgl offer not only excellent slopes but also remarkable dining experiences with extensive wine lists. Notable establishments include the gourmet restaurant Austria Stuben in Obergurgl, boasting 1,500 wines, and the Ice Q in Sölden, celebrated for its stunning views and gourmet cuisine. The Nederhütte provides a relaxed après-ski atmosphere, enhancing the culinary adventure on the slopes.

read more

Swiss Prosecutors Arrest René Benko for Deceiving Major Investors

René Benko faces serious allegations from the Central Public Prosecutor’s Office for Economic Crimes, including deceiving major Swiss shareholders Ernst Tanner and Arthur Eugster during a capital increase for his insolvent Signa Holding. Investigators claim Benko misled them about the financial capabilities of his family foundation, which was purportedly involved in the transactions. The case is expected to escalate into a significant trial involving multiple high-profile entrepreneurs who financially supported Benko.

read more

Bitpanda secures MiCA license to expand operations across EU member states

Bitpanda has secured a MiCA license from Germany’s BaFin, allowing it to operate across all 27 EU member states. This milestone, achieved through a decade of commitment to compliance, positions Bitpanda as a key player in the European crypto market, enhancing transparency and user protection. MiCA, effective in late 2024, aims to establish clear regulations and promote market fairness.

read more

Crypto Exchanges Secure MiCA Licenses to Enhance Regulation and Market Confidence

OKX, Crypto.com, and Bitpanda have secured full Markets in Crypto Assets (MiCA) licenses, enabling them to operate within the EU’s regulatory framework for digital assets. This includes enhanced consumer protection and compliance measures, such as stricter anti-money laundering protocols. With these licenses, OKX plans to offer a range of trading services to over 400 million Europeans, while Crypto.com aims to enhance transparency and streamline operations across the European Economic Area. Bitpanda, with its MiCA approval, is poised for significant growth, potentially leading to an IPO valued at over $4 billion.

read more

Yokoy Acquired by TravelPerk in Strategic Share Swap Deal

Zurich-based fintech Yokoy, specializing in corporate expense management, is being sold to Spanish company TravelPerk in a share swap deal. This acquisition, part of TravelPerk’s strategy to create an integrated travel and expense management platform, follows a successful $200 million financing round that doubled TravelPerk’s valuation to $2.7 billion. Yokoy will continue to operate independently while integrating its technology with TravelPerk’s offerings.

read more

Julius Baer Chairman Romeo Lacher Resigns Amid Leadership Changes and Challenges

Romeo Lacher’s unexpected resignation as Chairman of Julius Baer marks a significant transition for the Swiss wealth management bank, which he led for six years. His departure follows the tumultuous Signa case and the resignation of CEO Philipp Rickenbacher, prompting a search for a new chairman to complement incoming CEO Stefan Bollinger, who brings international experience from Goldman Sachs. Despite recent challenges, including a complete write-off related to the Signa case, Julius Baer’s share price has surged by 24% in the last quarter of 2024.

read more

René Benko Arrested on Suspicion of Bankruptcy Fraud in Austria

René Benko, founder of the bankrupt real estate conglomerate Signa, was arrested in Innsbruck on suspicion of conspiracy to commit a crime. The economic and corruption prosecutor’s office accuses him of concealing assets related to his company’s bankruptcy and falsifying invoices, with creditors demanding billions in losses. The collapse of his empire, which included around 1,000 interlinked companies, has sent shockwaves through the industry, impacting institutions like Swiss bank Julius Baer.

read more

Zurich Insurance Group Faces Controversy Over Vienna Property Sale

Mario Greco, CEO of Zurich Insurance Group, is facing backlash after selling the Kärntner-Ring-Hof property in Vienna for just under 130 million euros, despite a higher offer from a Zug-based finance company. Legal claims have emerged over alleged breaches of verbal assurances regarding exclusive bidding rights. Critics question why only three small companies were invited to bid, suggesting that larger family offices could have driven the sale price to around 150 million euros.

read more