Redundancies at Switzerland’s largest bank will test the capacity of the financial sector to absorb jobs. Keystone A year ago Credit Suisse staff were stunned by the sudden demise of their bank. Many are now fighting for their careers with 3,000 Swiss posts set to be axed by their new employer UBS, starting this year....
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Pharma: Novartis announces job cuts in the development division – SWI swissinfo.ch
Novartis currently employs 10,400 people in Switzerland, 3,000 of whom work in the development department. KEYSTONE/© KEYSTONE / GEORGIOS KEFALAS The pharmaceutical company Novartis is facing job cuts. The development division will be affected, as the company announced on Tuesday. This content was published on April 10, 2024 – 09:35 In Switzerland, 400 to 440...
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UBS finalises transfer of Credit Suisse securitisation business to Apollo – SWI swissinfo.ch
Under the new deal, announced on Wednesday, Apollo Global Management will purchase from UBS $8 billion of “senior secured financing facilities” as part of the Swiss bank’s efforts to wind down its non-core legacy portfolio KEYSTONE/© KEYSTONE / ENNIO LEANZA UBS Group and Apollo Global Management have reached an agreement regarding the carveout of Credit Suisse’s...
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UNRWA head calls on Switzerland to resume financial support
UNRWA head Lazzarini met with Swiss politicians. KEYSTONE/© KEYSTONE / SALVATORE DI NOLFI The director of the UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), Philippe Lazzarini, has called on Switzerland and the European Union to resume their support for the organisation. This content was published on March 26, 2024...
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Esprit Switzerland stores to close after bankruptcy – SWI swissinfo.ch
Esprit complained that the cost of renting high street units was too high. KEYSTONE/© KEYSTONE / CHRISTIAN BEUTLER The Swiss branch of the popular high-street fashion retailer Esprit has gone bust, it was announced on Tuesday. This content was published on March 26, 2024 – 15:52 Do you want to read our weekly top stories?...
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Swiss politician Alain Berset remains in running for Council of Europe top job
Alain Berset will learn whether he has the job on June 25 KEYSTONE/© KEYSTONE / ALESSANDRO DELLA VALLE Former Swiss Interior Minister Alain Berset is one of three names up for election as Secretary General of the Council of Europe, the Swiss foreign ministry announced on Monday. This content was published on March 25, 2024...
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Swiss financial watchdog fines Bank Audi for money-laundering violations – SWI swissinfo.ch
FINMA determined that the bank failed to provide information and did not adequately vet high-risk client relationships. KEYSTONE/© KEYSTONE / PETER KLAUNZER The Swiss Financial Market Supervisory Authority (FINMA) has identified serious violations of money-laundering regulations at the private bank, Bank Audi. This content was published on March 25, 2024 – 13:34 FINMA is fining...
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Hydrogen train from Switzerland sets world record – SWI swissinfo.ch
This is already the second entry in the Guinness World Records for the company from Bussnang in canton Thurgau. KEYSTONE/© KEYSTONE / ENNIO LEANZA A hydrogen-powered train from the Swiss railroad company Stadler has secured a place in the Guinness World Records. The Flirt passenger train covered 2,803 kilometres without refuelling or recharging. This content...
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Switzerland fails to meet WHO air quality standards – SWI swissinfo.ch
A traffic jam near the Gotthard Tunnel KEYSTONE/© KEYSTONE / URS FLUEELER Only seven countries met air quality standards set by the World Health Organization (WHO) last year. Switzerland is not one of them. This content was published on March 19, 2024 – 15:08 Delhi is the world’s most polluted capital city for the fourth...
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Football hooliganism: new measures to come into force next season
The introduction of personalised tickets is not yet on the agenda. KEYSTONE/© KEYSTONE / GEORGIOS KEFALAS Despite criticism from clubs and the Swiss Football League, new measures to prevent violence at football matches will come into force from next season. This content was published on March 14, 2024 – 17:12 However, the introduction of...
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Online spending rises in Switzerland – SWI swissinfo.ch
44% of survey respondents in Switzerland perceived the product range online as more attractive than in-store. KEYSTONE/© KEYSTONE / GAETAN BALLY In Switzerland, the proportion of bricks-and-mortar retail has only increased slightly in recent years, while shopping with a smartphone or laptop remains popular and consumer spending per order is increasing. This content was published...
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Switzerland’s financial watchdog needs more powers, global regulator says – SWI swissinfo.ch
Not enough teeth? Swiss financial regulator FINMA. KEYSTONE/© KEYSTONE / PETER KLAUNZER The Swiss financial watchdog FINMA should be given increased powers to make sure it would be able to deal with a failure of UBS if that scenario were ever to play out, a global regulator has said. This content was published on March...