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…
U.S. Treasury found no currency manipulation in 2022, downgrades Swiss scrutiny
By David Lawder WASHINGTON (Reuters) – The U.S. Treasury on Friday said it found that no major U.S. trading partners had manipulated their currencies for an export advantage, adding it ended “enhanced…
Pro-Russian hackers step up attacks against Swiss targets, authorities say
GENEVA (Reuters) -A pro-Russian hacking group had intensified its cyberattacks against Switzerland, authorities said on Tuesday, with hackers claiming to have taken down several major websites including the one for Geneva Airport.…
Swiss regulator welcomes UBS’s strategic focus
ZURICH (Reuters) – Swiss financial regulator FINMA has specified the central elements of its regulatory requirements for the merged UBS and Credit Suisse, it said on Monday. The regulator also said it…
Explainer-UBS has Swiss mountain to climb with Credit Suisse
By Tomasz Janowski, Oliver Hirt and John Revill ZURICH (Reuters) – With its Credit Suisse takeover officially wrapped up, UBS must now make good on its promise that the government-orchestrated rescue will…
Swiss National Bank Chairman hints at rate rises to tackle inflation
ZURICH (Reuters) – The Swiss National Bank could raise interest rates to tackle inflation which remains above target, Chairman Thomas Jordan said in an interview published on Saturday, Jordan defended the central…
Swiss economy grows at faster than expected rate in first quarter
ZURICH (Reuters) – The Swiss economy grew by a faster than expected rate at the start of the year, the government said on Tuesday, supported by robust domestic demand and rising exports.…
Credit Suisse managers’ 2022 bonuses cancelled or cut by Swiss government
ZURICH (Reuters) – Credit Suisse senior managers will have their outstanding bonus payments for 2022 either cancelled or reduced following an order issued on Tuesday by the Swiss Finance Ministry. The order…
Plane crash in Swiss mountains kills three
(Reuters) -Three people died when their light aircraft crashed on Saturday morning in Switzerland’s Ponts-de-Martel area close to the French border, the Swiss police said. The crash occurred around 10:20 in the…
Swiss army displays Leopard 2 tank as Germany hopes for sale
By Denis Balibouse BURE, Switzerland (Reuters) – In a sleepy village on the French border, Swiss soldiers rode down a dusty road on a Leopard 2 tank, an armoured vehicle that has…
UBS looks to bring Naratil back and mulls Swiss bank spin-off – NZZ
ZURICH (Reuters) – As UBS’s takeover of former rival Swiss bank Credit Suisse nears completion, details are emerging of what the new merged bank will look like. UBS is working towards spinning…
Swiss regulator says two banks’ crisis plans are insufficient
ZURICH (Reuters) – Swiss financial regulator FINMA has labelled the recovery and resolution plans of two of Switzerland’s five systematically important banks as insufficient, it said on Wednesday. FINMA questioned the ability…
Swiss National Bank Vice Chairman hints at further rate hikes ahead
WINTERTHUR, Switzerland (Reuters) -Swiss inflation may be low compared to other countries but is still too high, Swiss National Bank Vice Chairman Martin Schlegel said on Wednesday, hinting at possible further interest…
Swiss government reiterates financial commitment to Credit Suisse deal
ZURICH (Reuters) -The Swiss government said commitments to the Swiss National Bank and UBS to ease the takeover of Credit Suisse will not be affected by parliament’s rejection of 109 billion Swiss…
Swiss bank Julius Baer makes key appointments in Southeast Asia
SINGAPORE (Reuters) – Zurich-based Julius Baer has appointed Chin Lit Yee as its new head of South East Asia, the private bank said on Thursday. Kevin Tay will assume Yee’s previous role…
UBS has hired JPMorgan to explore C.Suisse domestic spin-off -Swiss media
ZURICH (Reuters) – UBS has hired JPMorgan to explore a possible IPO of Credit Suisse’s domestic business, Zurich based finance blog Inside Paradeplatz reported on Thursday. Last month UBS agreed to takeover…
Credit Suisse rescue package rejected by Swiss parliament
ZURICH (Reuters) – Switzerland’s parliament on Wednesday rejected a Credit Suisse rescue package that included 109 billion Swiss francs ($120.87 billion)in financial guarantees in a largely symbolic vote as the government commitment,…
Swiss finance minister sees no ‘stumbling blocks’ to UBS takeover of Credit Suisse
ZURICH (Reuters) – UBS’s multi-billion state-sponsored takeover of Credit Suisse should proceed smoothly without political obstructions, Swiss Finance Minister Karin Keller-Sutter said in an interview published on Saturday. The Swiss parliament is…
Swiss economists question UBS takeover of Credit Suisse in poll
ZURICH (Reuters) – A poll of Swiss economists found that nearly half think the takeover of Credit Suisse by UBS was not the best solution, warning the saga has dented Switzerland’s reputation…
Swiss Executive Pleads Guilty to Tax Fraud Conspiracy Involving $60 Million
NEW YORK, NY – Swiss executive Daniel Wälchli pled guilty today to conspiring to defraud the United States in connection with a scheme to help wealthy American clients conceal over $60 million…
Swiss authorities reveal cost of Credit Suisse’s liquidity lifeline
By Noele Illien ZURICH (Reuters) – Switzerland’s authorities revealed the interest rates Credit Suisse and UBS will pay for the 250 billion Swiss franc ($273.31 billion) emergency lifeline the Swiss banks have…
Four bankers who helped Putin’s friend set up Swiss bank account convicted
By John Revill and Oliver Hirt ZURICH (Reuters) – Four bankers who helped a close friend of Vladimir Putin move millions of francs through Swiss bank accounts have been convicted of failing…
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 legal battle in which they claim their…
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 UBS may have taken big chunks of…
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 banking giant rescuing its arch-rival Credit Suisse…
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 possible solution to a difficult situation. Keller-Sutter,…
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