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…
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 power crunch, saying the mere suggestion could…
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 with a bribery case in South Africa.…
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 bribery case at a South African state-owned…
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 10th month in a row, data showed…
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 data showed on Tuesday, lagging market expectations.…
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ZURICH (Reuters) – The head of Credit Suisse’s Swiss unit said “some customers have withdrawn some of their money, but very few have actually closed their accounts.” Last week, Switzerland’s second-largest bank…
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 body is registered. “FIFA is not a…
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 Jens Haas, head of investment banking Switzerland.…
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 bank started its latest round of monetary…
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 light on how Chinese firms are tapping…
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, SNB Vice Chairman Martin Schlegel said. “The…
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 francs in a consensus compiled by the…
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 manufacturer’s works entry in Formula One from…
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 billion Swiss francs ($4.48 billion), the Financial…
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 drawn a week earlier, New York Fed…
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 National Bank Chairman Thomas Jordan said on…
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 week, data on Monday showed, illustrating how…
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 been one of the last remaining channels…
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 a steeper rate of price rises could…
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 Wednesday. Switzerland’s second-biggest bank saw its shares…
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 member Andrea Maechler said on Wednesday. “It…
Swiss central bank steps up policy tightening as sight deposits drop $78 billion
By John Revill ZURICH (Reuters) – Overnight deposits held by the Swiss National Bank plunged by 77.5 billion Swiss francs ($78.32 billion) last week, their biggest ever weekly fall, the latest sign…
Swiss inflation unexpectedly slows in September
ZURICH (Reuters) – Swiss consumer price inflation slowed to 3.3% in September but still surpassed the Swiss National Bank’s 0-2% target range for the eighth month in a row. Economists had expected…
Swiss franc not highly valued – SNB’s Jordan
ZURICH (Reuters) – The Swiss franc is not highly valued despite its nominal rise, Swiss National Bank Chairman Thomas Jordan told a Swiss newspaper, adding the central bank intended to be deliberately…
Swiss airline pilots march on HQ to press contract demands
KLOTEN, Switzerland (Reuters) – More than 300 pilots marched on Swiss International Air Lines headquarters near to Zurich airport on Thursday to press their contract demands ahead of a possible walkout next…
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