Factbox: Swiss female pensioners vs the government: European court’s first climate case
GENEVA (Reuters) – A case involving thousands of retired Swiss women is being heard at a European Court in France, the culmination of a six-year …
swiss
Swiss sight deposits jump, suggesting Credit Suisse, UBS took emergency liquidity
ZURICH (Reuters) – Sight deposits held by the Swiss National Bank (SNB) jumped last week, data showed on Monday, suggesting that both Credit Suisse and …
Ralph Hamers, the Dutchman thrust in the driver’s seat at Swiss bank UBS
By Noele Illien, Toby Sterling and Tom Sims ZURICH (Reuters) – When Ralph Hamers emerged from days of emergency talks that ended with his Swiss …
UBS’s Credit Suisse deal was the best solution says Swiss gov’t
(Reuters) – Swiss Finance Minister Karin Keller-Sutter was determined to present the deal for UBS to buy Credit Suisse as no bailout but the best …
UBS chairman wants to keep Credit Suisse’s Swiss unit
ZURICH (Reuters) – UBS Chairman Colm Kelleher said the bank wants to keep Credit Suisse’s Swiss unit, speaking at a news conference announcing the merger …
UBS seeks Swiss backstop in any Credit Suisse deal – Bloomberg News
(Reuters) – UBS Group AG is asking the Swiss government for a backstop if it were to buy Credit Suisse Group AG, Bloomberg News reported …
Swiss lawmakers tell Credit Suisse to clean up its act, seek to ringfence crisis
By Alexandra Hudson and Tom Sims ZURICH (Reuters) – Swiss lawmakers on Friday vowed to bring those responsible for Credit Suisse’s problems to account and …
Swiss National Bank confirms that it will provide liquidity to Credit Suisse
ZURICH (Reuters) – The Swiss National Bank confirmed on Thursday that it will provide liquidity to Credit Suisse against sufficient collateral. “Within the framework of …
Swiss lifeline, ECB dilemma
A look at the day ahead in U.S. and global markets from Mike Dolan A Swiss lifeline to the ailing Credit Suisse has eased some …
Swiss government holds talks on options to stabilize Credit Suisse – Bloomberg News
(Reuters) – Swiss authorities and Credit Suisse Group AG are discussing ways to stabilize the bank, Bloomberg reported on Wednesday, citing people familiar with the …
China battery giant CATL’s $5 billion Swiss listing delayed amid Beijing regulatory concerns – sources
By Scott Murdoch, Julie Zhu and Kane Wu HONG KONG (Reuters) – Chinese battery giant CATL’s plan to raise at least $5 billion in Swiss …
Swiss National Bank does not rule out more interest rate hikes
ZURICH (Reuters) – The Swiss National Bank cannot rule out that it will have to raise interest rates again to bring inflation under control, Chairman …
Swiss industry optimistic for 2023 after sales rise in 2022
ZURICH (Reuters) – Switzerland’s mechanical and electrical engineering companies are cautiously optimistic about their prospects for 2023 after the sector reported higher sales, exports and …
Swiss government says it expects economic slowdown but no recession
ZURICH (Reuters) – The Swiss economy is expected to slow this year but will not slide into a recession, the government said on Tuesday, after …
Swiss economic growth flat in Q4 as exports and manufacturing drop
ZURICH (Reuters) – The Swiss economy showed no growth in the fourth quarter of 2022, the government said on Tuesday, as a “challenging international situation” …
Swiss Re 2022 net profit down 67%; sees brighter outlook for 2023
FRANKFURT (Reuters) – Reinsurance company Swiss Re said on Friday that net profit for 2022 fell 67% as it faced claims from Hurricane Ian in …
Swiss government: confiscation of Russian assets found unconstitutional
ZURICH (Reuters) – The confiscation of private Russian assets would undermine the Swiss constitution and the prevailing legal order, the Swiss government said on Wednesday, …
Swiss police arrest man found with explosive traces near country’s parliament
(Reuters) -Swiss police arrested a man found with traces of explosives outside the country’s parliament on Tuesday, sparking a security alert that shut down part …
Swiss to vote on preventing cashless society, pressure group says
(Reuters) – Swiss citizens will get the chance to try to ensure their economy never becomes cashless, a pressure group said, after collecting enough signatures …
Swiss National Bank’s Schlegel says too early to sound inflation all clear
ZURICH (Reuters) – Swiss National Bank Vice Chairman Martin Schlegel said on Tuesday it was too early to sound the ‘all-clear’ on inflation in Switzerland, …
Swiss National Bank posts record $143 billion loss in 2022
ZURICH(Reuters) – The Swiss National Bank posted an annual loss of 132 billion Swiss francs ($142.67 billion) in 2022, it said on Monday, the biggest …
Swiss National Bank steps up forex sales during Q3
ZURICH (Reuters) – The Swiss National Bank increased its forex sales to 739 million Swiss francs ($799.35 million) during the third quarter of 2022, the …
Credit Suisse clients are returning, CEO of bank’s Swiss business says
ZURICH (Reuters) – Credit Suisse’s client withdrawals have stabilised and reversed in some cases, Andre Helfenstein, the head of Credit Suisse’s Swiss business said in …
Swiss central bank sees onus on Credit Suisse to execute revamp
ZURICH (Reuters) – Credit Suisse needs to execute its revamp successfully and end a string of negative headlines from Switzerland’s second-biggest bank, Swiss National Bank …
Swiss national bank nominates Angelo Ranaldo for election to Bank Council
ZURICH (Reuters) – The Swiss National Bank has nominated Angelo Ranaldo for election to the organisation’s Bank Council, it said late on Friday. “With effect …
British American Tobacco closes Swiss plant, lays off 226
ZURICH (Reuters) – British American Tobacco (BAT) is to close a cigarette manufacturing plant in Switzerland next year, laying off 226 workers, the Tages-Anzeiger paper …
Swiss National Bank hints at further rate hikes ahead
By John Revill and Michael Shields BERN (Reuters) – Swiss National Bank Chairman Thomas Jordan said it was too early to “sound the all-clear” on …
British American Tobacco closes Swiss plant, lays off 226 -paper
ZURICH (Reuters) – British American Tobacco is to close a cigarette manufacturing plant in Switzerland next year, laying off the 226 employees working there, the …
Swiss gov’t expects economic slowdown in 2023 but no recession
ZURICH (Reuters) – The Swiss government expects the country’s economic growth to slow next year although it should avoid a recession, it said on Tuesday, …
Auto lobby slams Swiss plan to curb electric cars in power crunch
ZURICH (Reuters) – The Swiss car importers lobby hit back on Monday at the government’s proposal to limit the use of electric vehicles in any …
Swiss engineering group ABB fined $4.3 million
ZURICH (Reuters) – Swiss engineering and technology group ABB has been fined 4 million Swiss francs ($4.3 million) by the country’s Attorney General in connection …
U.S. says Swiss engineering group ABB to pay over $315 million to resolve bribery case
By Kanishka Singh WASHINGTON (Reuters) -Swiss engineering and technology group ABB Ltd agreed to pay more than $315 million to resolve an investigation into a …
Swiss inflation steady at 3.0% in November as expected
ZURICH (Reuters) – Swiss consumer price inflation held steady at 3.0% in November but still overshot the Swiss National Bank’s 0-2% target range for the …
Swiss GDP growth lags expectations in Q3
ZURICH (Reuters) – The Swiss economy grew a real 0.2% in the third quarter versus the second three months of 2022 and 0.5% year-on-year, official …
Few Credit Suisse clients have closed accounts – CEO of the bank’s Swiss unit
ZURICH (Reuters) – The head of Credit Suisse’s Swiss unit said “some customers have withdrawn some of their money, but very few have actually closed …
Swiss Greens call for FIFA’s tax privileges to be revoked
ZURICH (Reuters) – A Swiss political party is calling for FIFA’s status as a non-profit organisation to be revoked in Switzerland, where the football governing …
Credit Suisse’s Swiss investment bank to be spared in overhaul
ZURICH (Reuters) – The Swiss arm of Credit Suisse’s investment bank will be largely unaffected by the restructuring plan the bank announced last month, said …
Swiss National Bank issued 140 billion Sfr of bills, repos following rate hike
ZURICH (Reuters) – The Swiss National Bank has issued bills and repurchase agreements (repos) worth nearly 140 billion Swiss francs ($148.6 billion) after the central …
Chinese firms embrace Swiss listings as deal pipeline swells
By Samuel Shen and Scott Murdoch SHANGHAI/HONG KONG (Reuters) – Battery maker Sunwoda Electronics Co’s debut on the Swiss stock exchange on Monday shines a …
Credit Suisse overhaul welcomed by Swiss National Bank – paper
ZURICH (Reuters) – The Swiss National Bank endorses the measures Credit Suisse has taken to transform the embattled Swiss bank and shore up its capital, …
Credit Suisse posts Q3 loss of 4 billion Swiss francs
ZURICH (Reuters) – Credit Suisse Group lost 4 billion Swiss francs ($4.06 billion) in the third quarter, badly missing the average estimate of 413 million …
Audi partners with Swiss Sauber for Formula One
FRANKFURT/LONDON (Reuters) – Audi said on Wednesday it has agreed to take a stake in Swiss-based Sauber Group, whose team will become the German car …
Credit Suisse prepares Swiss business sales to raise capital – FT
(Reuters) – Credit Suisse is preparing to sell parts of its Swiss domestic bank as it attempts to close a capital hole of around 4.5 …
Swiss National Bank makes another large draw on Fed swap line
(Reuters) – The Swiss National Bank this week drew nearly $6.3 billion from the U.S. Federal Reserve’s currency swap line facility, roughly double the amount …
Swiss National Bank’s Jordan says central bank independence vital to fight inflation
ZURICH (Reuters) – Central banks need to resist political pressure to slow monetary policy tightening as they hike interest rates to fight resurgent inflation, Swiss …
Swiss National Bank cuts overnight deposits by 30 billion francs
ZURICH (Reuters) – The amount of commercial bank cash held overnight with the Swiss National Bank fell by 30 billion Swiss francs ($30.07 billion) last …
Gazprombank to discontinue Swiss operations
ZURICH (Reuters) -Russia’s Gazprombank has decided to cease operating in Switzerland after “a strategic review of various options”, it said on Monday. The bank had …
Swiss National Bank won’t tolerate above-target inflation -Jordan
ZURICH (Reuters) – The Swiss National Bank (SNB) will not accept Swiss inflation above its target of 0-2%, Chairman Thomas Jordan said, adding that tolerating …
Swiss National Bank monitoring Credit Suisse situation – Maechler
ZURICH (Reuters) – The Swiss National Bank (SNB) is following the situation at Credit Suisse closely, SNB Governing Board member Andrea Maechler told Reuters on …
Swiss National Bank’s Maechler says further rate hikes ‘quite possible’
ZURICH (Reuters) – The Swiss National Bank is prepared to raise interest rates further to tackle inflation after its recent 75-basis-point hike, SNB Governing Board …