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…
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 between Switzerland’s two biggest banks on Sunday.…
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 on Saturday. UBS is discussing scenarios in…
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 urged it to clean up its act…
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 its statutory mandate, the SNB may provide…
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 pressure on Europe’s anxious banks but leaves…
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 matter. Credit Suisse leaders and government officials…
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 global depository receipts (GDR) has been delayed…
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 Thomas Jordan said on Tuesday. “We cannot…
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 orders last year. Sales rose 9.4% in…
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 it reported zero growth at the end…
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” hit manufacturing and exports. The 0% growth…
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 Florida, pandemic losses, and high inflation, but…
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, citing the findings of a working group…
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 of Bern for several hours. The man,…
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 by Monday to trigger a popular vote…
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, despite an expected decline in the rate…
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 loss in its 115-year history. The central…
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 central bank said on Friday, showing how…
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 an interview with local newspaper NZZ. Last…
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 Chairman Thomas Jordan said in an interview…
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 from 1 May 2023, Mr Ranaldo will…
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 and other Swiss media reported on Thursday.…
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 high inflation after the central bank hiked…
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 Tages-Anzeiger paper and other Swiss media reported…
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, with no energy shortages causing widespread production…
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