Tag Archive: Latest news

Credit Suisse says only a few customers are closing accounts

2022-11-28

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2022-11-28

The head of Credit Suisse’s Swiss division says that only a few clients are actually closing accounts at the bank. His comments after the troubled bank reported high customer fund withdrawals globally.

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Vivid pink diamond auctioned for CHF28.4 million

2022-11-10

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2022-11-10

A pear-shaped 18-carat pink diamond billed as a rarity has sold at a Geneva auction for CHF28.4 million ($28.8 million), including fees and taxes.

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UBS raided in money-laundering probe of Russian

2022-11-09

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2022-11-09

Police have searched two branches of Swiss bank UBS in Germany in connection with alleged money laundering by a Russian businessman, according to German officials and media.

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Switzerland should do more on tax avoidance, says EU parliamentarian

2022-11-07

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2022-11-07

Switzerland has made progress in reforming tax rates for multinational companies but still has work to do when it comes to turning a blind eye to tax avoidance.

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Credit Suisse to cut 540 jobs in Switzerland by 2023

2022-11-01

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2022-11-01

The embattled Swiss bank Credit Suisse plans to shed 540 jobs in Switzerland by the end of the year, Chief Executive Officer Ulrich Körner told the NZZ am Sonntag newspaper. In the interview he gave more details on last week’s restructuring announcement.

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The energy crisis is about to make your Swiss ski holiday more expensive

2022-10-31

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2022-10-31

Swiss hotels and holiday apartments are raising their prices by around 5% this winter, largely due to higher energy prices. Ski passes are also likely to go up by a similar amount, a newspaper reports.

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Swiss municipality to vote on banning adverts in streets

2022-10-27

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2022-10-27

The inhabitants of Vernier, a municipality in Geneva, are set to have their say on banning advertising billboards.

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Public transport will not cost more in 2023

2022-10-25

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2022-10-25

Ticket prices for Swiss public transport will remain stable for 2023 for the seventh consecutive year. Only “a few tourist businesses” are planning to adjust their fares for next year, says the SwissPass Alliance.

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Energy crisis ‘will last many years’, says economics minister

2022-10-24

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2022-10-24

Swiss Economics Minister Guy Parmelin assumes the energy crisis will last several years. It is important, he says, not only to think about the winter, but to do everything to ensure that Switzerland produces more energy – that means more renewable energies and greater efficiency.

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Man convicted for fraudulently claiming massive Covid loan

2022-10-24

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2022-10-24

A 48-year-old businessman in Geneva has been given a two-year suspended prison sentence for making a fraudulent claim for a Covid loan that was 100 times the correct amount. He was found guilty of fraud and forgery of documents.

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Swiss companies ‘trapped’ in Russia

2022-10-24

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2022-10-24

Leading Swiss brands have withdrawn from Russia because of the war in Ukraine. However, research by a Swiss newspaper shows that while a company can leave a country, its products often remain on shelves.

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SWISS expands capacity for summer flight schedule

2022-10-20

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2022-10-20

Swiss International Air Lines (SWISS) is planning to expand its flight schedule next summer to offer 85% of its pre-pandemic capacity. To this end, it is now busy recruiting flight attendants.

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Credit Suisse pays $495 million to settle legacy case

2022-10-19

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2022-10-19

Credit Suisse has agreed to pay $495 million (CHF496 million) to settle a case brought against it in the United States, the latest pay-out related to past blunders that have battered the Swiss bank’s reputation.

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Switzerland shares bank details with Nigeria for first time

2022-10-11

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2022-10-11

Five additional countries, including Nigeria, now benefit from an automatic exchange of banking information with Switzerland, taking the total to over 100 for the first time. 

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Companies increasingly pessimistic about Swiss economy

2022-10-07

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2022-10-07

Chief financial officers (CFOs) are more pessimistic about the economic outlook for Switzerland than they were six months ago, according to a survey conducted by Deloitte for the second half of 2022.

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Test hackers fail to breach Swiss Post’s e-voting system

2022-10-01

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2022-10-01

Not one hacker managed to penetrate the Swiss Post’s e-voting system during a security test, according to Swiss Post. The system withstood 60,000 attacks.

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Ross Geller inspires Bank of England policy

2022-09-29

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2022-09-29

This morning the UK pound slumped as one of the world’s oldest central banks pressed hard on the panic button. The Bank of England was seen to be shouting ‘Pivot! Pivot! Pivaat!’ as they announced they would temporarily suspend their programme to sell gilts and will instead buy long-dated bonds. 

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Energy worries likely to slow Swiss growth, say experts

2022-09-21

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2022-09-21

Swiss economic growth forecasts for 2022 and 2023 have been revised significantly downwards, amid uncertainty over energy supply and inflation.

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Competition authorities probe Novartis over suspected patent abuse

2022-09-18

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2022-09-18

The Swiss competition commission (COMCO) has opened an investigation into suspected unlawful use of a patent to reduce competitive pressure by Swiss pharmaceutical giant Novartis.

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Former UBS CEO sees no need for two big Swiss banks

2022-09-14

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2022-09-14

Having two big players like UBS and Credit Suisse provides no “compelling” economic benefit for Switzerland, Sergio Ermotti has told the NZZ am Sonntag newspaper.

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