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WBR: End of Swiss franc's euro cap sparks repercussions 16 Jan 15

January 16th, 2015

Episode 171 of 864 episodes

Switzerland's central bank has come under fire at home and abroad for scrapping its efforts to cap the value of the Swiss franc against the euro. A foreign exchange brokerage firm in Britain and another in New Zealand have declared insolvency. Swiss exporters and tourist firms have warned they could be put out of business and the repercussions are also being felt in eastern Europe, with holders of mortgages backed by the Swiss franc seeing monthly payments shoot up. Also, you may never have heard the name, but Xiomi is the third biggest designer of smartphones in the world. In fact, it has been nicknamed "China's Apple". Our reporter Celia Hatton spoke to one of the company's top executives about future plans for the business. And cinema advertising slots sell out ahead of the launch of the new film based on the novel "Fifty Shades of Grey". Plus, we take a look back over the past week in business and catch up with the latest from the financial markets.

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