European court ruling puts cautious Swiss in climate bind
By Gabrielle Tétrault-Farber and Dave Graham GENEVA/ZURICH (Reuters) – Switzerland for all its snow-capped mountains and crisp Alpine air has failed to protect its people from the ravages of climate change, as…
Zelenskiy hopes to set Swiss world peace summit date within days
KYIV (Reuters) – Ukrainian President Volodymyr Zelenskiy said in remarks broadcast on Saturday that he hoped that he and Swiss President Viola Amherd would set a date within days for a world…
E.J. ANTONI: Biden’s Swiss Cheese Labor Market
Every month, the Biden administration touts the latest jobs report as evidence of how solid the labor market is. But the Devil is in the details. Far from solid, the labor market…
Swiss National Bank chairman expects inflation to rise
ZURICH (Reuters) – The Swiss National Bank expects inflation to rise, Chairman Thomas Jordan said in an interview to be broadcast later on Monday. The SNB has been broadly successful in tackling…
UBS lost ground in Swiss fund business over 2023
ZURICH (Reuters) – UBS and Credit Suisse lost some ground in their combined share of the Swiss funds business last year, the Asset Management Association of Switzerland said on Monday, predicting that…
Swiss central bank chief says further rate hikes not necessary – paper
ZURICH (Reuters) – Further interest rate hikes from the Swiss National Bank are not needed given the bank’s latest inflation forecasts, SNB Chairman Thomas Jordan told Swiss newspaper Aargauer Zeitung in an…
BNP settles for up to 600 million euros in Swiss franc loan case -Le Parisien
PARIS (Reuters) – BNP Paribas has signed an agreement with France’s leading consumer group CLCV for between 400 million and 600 million euros ($662.3 million) compensation after its consumer credit unit was…
Swiss financial watchdog wants to examine clawing back bankers’ bonuses
ZURICH (Reuters) – Switzerland’s financial regulator wants to discuss the ability to claw back bonuses from bankers as part of stronger powers following the fall of Credit Suisse and sale to UBS.…
Swiss capital Bern considers legal cocaine project
By John Revill ZURICH (Reuters) – Switzerland’s capital is examining a pilot scheme to allow the sale of cocaine for recreational use – a radical approach to the war on drugs that…
U.N. Palestinian refugee agency decries Swiss move to cut funding
By Gabrielle Tétrault-Farber GENEVA (Reuters) – The head of the U.N. Palestinian refugee agency (UNRWA) denounced a move by Switzerland to cut aid as the Gaza Strip faces a humanitarian crisis described…
UBS to expand presence in U.S. market – Swiss paper
(Reuters) – Swiss bank UBS plans to expand its presence in the U.S. market as part of its strategy to hit $150 billion in net new money, or inflow of new funds,…
Swiss GDP grows by 0.3% in third quarter
ZURICH (Reuters) -Switzerland’s economy grew by 0.3% during the third quarter, the government said on Friday, as the service sector helped offset stagnating manufacturing growth. The rate – adjusted for sporting events…
UBS chairman says Swiss financial regulator needs more teeth
ZURICH (Reuters) -UBS Chairman Colm Kelleher has called for the Swiss financial industry regulator FINMA to be given more powers after the downfall of Credit Suisse showed the authority lacked sufficient “teeth.”…
Swiss National Bank to pilot wholesale digital currency with UBS, other banks
ZURICH (Reuters) – The Swiss National Bank said on Thursday it will start a pilot project next month using central bank digital currency (CBDC) for financial institutions, with UBS and Zuercher Kantonal…
Swiss National Bank Chairman defends handling of Credit Suisse crisis
By John Revill BERN (Reuters) – Swiss National Bank (SNB) Chairman Thomas Jordan on Wednesday defended the central bank’s handling of the Credit Suisse crisis including handing out emergency cash to the…
Swiss expect economic growth ‘significantly below average’ in 2023 and 2024
ZURICH (Reuters) – Switzerland’s economy is expected to grow by 1.3% this year, the government said on Wednesday, significantly below the country’s long-term average as industry struggles with weak demand abroad and…
Swiss post mortem of Credit Suisse crisis to go back to 2015
ZURICH (Reuters) – Switzerland gave a rare glimpse on Friday into so far highly secretive procedures for its inquiry into Credit Suisse’s demise, saying it will examine the actions of state bodies…
Credit Suisse collapse led balance sheet of Swiss banks to contract
(Reuters) – Credit Suisse clients withdrawing their money as the bank headed for collapse likely accounts for the first significant balance sheet contraction in a decade for all banks in Switzerland, a…
Swiss economy stagnates during second quarter
ZURICH (Reuters) – The Swiss economy stagnated during the second quarter of 2023, the government said on Monday, with zero growth reported as the slowdown abroad hit the country’s manufacturing sector and…
Shares in Swiss bank UBS hit highest since late 2008
MILAN (Reuters) – Shares in UBS hit their highest level since October 2008 on Thursday, extending a strong run that has put the Swiss bank well ahead of its European rivals following…
UBS, Swiss finance blog settle Credit Suisse legacy lawsuit
ZURICH (Reuters) – UBS and Inside Paradeplatz have settled a lawsuit initially brought against the popular Zurich based finance blog by Credit Suisse, the publication said on Tuesday. As part of the…
Swiss regulator reviewed money laundering risk at 30 banks
ZURICH (Reuters) – Switzerland’s financial regulator looked into the risk of money laundering at 30 banks this spring, FINMA said in an analysis published on Thursday, after identifying shortcomings in the area.…
Swiss bank Julius Baer to end business with clients in Russia-letter
By Brenna Hughes Neghaiwi ZURICH (Reuters) -Swiss private bank Julius Baer will end all business with clients based in Russia, it told them in a letter seen by Reuters on Tuesday, as…
Explainer-Credit Suisse crash investigated by Swiss lawmakers
By John Revill and Tomasz Janowski ZURICH (Reuters) – A rare Swiss parliamentary investigation due to start this week aims to establish what went wrong before the dramatic fall of Credit Suisse,…
Swiss inflation dips to 1.7% in June, but rate hike still expected
By John Revill ZURICH (Reuters) – Swiss inflation dipped to 1.7% in June, the government said on Monday, although economists expect the Swiss National Bank to stay its course and raise interest…
Swiss energy rescue helps fuel wider 2024 budget deficit forecast
ZURICH (Reuters) – Switzerland expects its budget deficit to widen to 6.7 billion Swiss francs ($7.46 billion) next year due to extraordinary spending on Ukrainian refugees and the electricity sector, the government…
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