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Local police said that the 'aircraft slipped down the northern slope' (File image)

Irish man dead in Swiss helicopter crash

An Irish man is among three people who died in a helicopter crash in the Swiss Alps on Tuesday morning, the Swiss Office of the Attorney General has confirmed.

Ireland • 05 Apr 24

Galderma's products includes Cetaphil, a product for damaged and sensitive skin

Galderma sets its IPO price at top of range

Skin care company Galderma said today it had set the final price for its initial public offering (IPO) at 53 Swiss francs ($59.86) per share, at the top of its announced range, implying a market capitalisation of 12.6 billion francs at listing.

Business • 21 Mar 24

The Swiss National Bank today cut rates for the first time in nine years

Swiss National Bank surprises with interest rate cut

The Swiss National Bank cut its main interest rate by 25 basis points to 1.5% today, a surprise move which made it the first major central bank to dial back tighter monetary policy aimed at tackling inflation.

Business • 21 Mar 24

Galderma announces $2.3 billion float on Swiss exchange

Galderma intends to raise roughly $2.3 billion when it floats on the Swiss stock exchange, the skin care company said today in what is likely to be one of the biggest initial public offerings (IPO) in Europe this year.

Business • 06 Mar 24

The Swiss National Bank exited negative interest rates in 2022 and has paid interest of 1.75% since June last year to commercial banks which lodge money with it overnight

Higher interest rates drag Swiss National Bank to a loss

The Swiss National Bank has today posted an annual loss of 3.2 billion Swiss francs ($3.62 billion) for 2023, as a switch to positive interest rates cost it dearly and meant it could not pay a dividend for a second year in a row.

Business • 04 Mar 24

A call by trade unions to add a 13th monthly pension payment each year secured nearly 60% backing

Swiss voters approve boost to pension payments

Swiss voters have overwhelmingly backed a proposal to increase pension payments, a move hailed as "historic" by backers at a time when the country's ageing population faces surging living expenses.

World • 03 Mar 24

UBS's balance sheet has expanded to be worth more more than $1.6 trillion, nearly twice the size of Switzerland's economy

UBS flags up to $1 billion in share buybacks

UBS said today it had completed the first phase of integrating fallen rival Credit Suisse, was benefiting from net new asset flows and plans to restart share buybacks in the second half of the year, with up to $1 billion slated for 2024.

Business • 06 Feb 24

Swiss financial regulator FINMA has come under fire for its supervision of Credit Suisse

Swiss financial watchdog calls for more powers

Credit Suisse came close to imploding months before its eventual rescue, the Swiss financial regulator said today in its first detailed account of the crisis, as it argued for stronger powers to oversee lenders in future.

Business • 19 Dec 23

Police stopping and searching cars after the attack

Switzerland: Suspect held after two killed in shooting

A suspect has been detained by police after two people were killed in a shooting in Switzerland.

Europe • 11 Dec 23

Novartis said its third-quarter group sales rose 12% to $11.78 billion

Novartis lifts 2023 earnings forecast for third time

Switzerland's Novartis has today raised its full-year earnings forecast for the third time, citing cost cuts and higher-than-forecast prices for a multiple sclerosis (MS) drug.

Business • 24 Oct 23

UBS agreed on March 19 to buy Credit Suisse for a knockdown price of 3 billion francs

Credit Suisse expects Q3 loss of $1.6 billion

Credit Suisse expects to make a third quarter loss of about $1.6 billion from reclassification of loans linked to its non core and legacy businesses, the bank, which is now part of UBS, said today.

Business • 29 Sep 23

The Swiss National Bank (SNB) kept its key interest rate at 1.75% today but warned of possible hikes in the future

Swiss central bank leaves key rate unchanged

Switzerland's central bank unexpectedly left its key interest rate unchanged, saying past hikes were countering inflation while warning that more increases may still be needed.

Business • 21 Sep 23

UBS shares have gained some 30% since the takeover of Credit Suisse was announced and are hovering around their highest levels in 15 years.

UBS to absorb Credit Suisse's domestic bank

UBS Group plans to cut 3,000 jobs in Switzerland in the next couple of years, as it offered the first glimpse of how it plans to achieve more than $10 billion in cost savings after taking over Credit Suisse.

Business • 31 Aug 23

UBS to give first glimpse of new group after CS deal

UBS will publish its first earnings report on August 31 since a hastily arranged takeover of its Swiss rival Credit Suisse, shedding new light on the deal's impact and the inner workings of the new banking giant.

Business • 29 Aug 23

The level of secrecy for the Credit Suisse inquiry has triggered concern among Swiss historians

Credit Suisse inquiry to keep files secret for 50 years

A Swiss parliamentary investigation into the collapse of Credit Suisse will keep its files closed for 50 years, according to a parliamentary committee document, a level of secrecy that has triggered concern among Swiss historians.

Business • 17 Jul 23

UBS agreed to buy its Swiss rival Credit Suisse for 3 billion Swiss francs in March

Swiss parliament's probe into Credit Suisse collapse

A Swiss parliamentary investigation into the role played by state institutions in the collapse and emergency rescue of Credit Suisse will take 12 to 15 months to complete, its president has said.

Business • 14 Jul 23

A metre-high wall of mud and rock came to a halt just in front of the village school

Swiss villagers return home after rockslide near miss

Authorities have said that inhabitants of a small Swiss village, which narrowly escaped being wiped off the map when part of the mountain towering above it collapsed, are now safe to return home.

Europe • 03 Jul 23

Bridget Efe (R), the wife of Mike Ben Peter, is comforted after the verdict

Swiss police officers cleared over black man's death

A Swiss court has acquitted six white police officers of charges of negligent homicide in the death of a black man who suffered a fatal heart attack after he was held down in the street during an arrest.

World • 22 Jun 23

The landslide came to a halt just in front of the village school in Brienz

Massive rockslide misses Swiss village 'by a hair'

A Swiss village came within a hair's breadth of being wiped off the map when a mountain towering above it collapsed overnight.

News Lens • 16 Jun 23

Activists hold a banner ahead of the trial

Swiss police officers on trial over black man's death

Six Swiss policemen have appeared in court charged over the death of a black man who had a fatal heart attack after he was pinned down during an arrest in 2018.

World • 12 Jun 23

As part of the deal, UBS must keep its headquarters in Switzerland, the Swiss government said today

UBS agrees on Credit Suisse loss guarantee

UBS has signed an agreement with the Swiss government to cover up to 9 billion Swiss francs ($10 billion) in losses from its emergency takeover of Credit Suisse, the country's largest bank and government said today.

Business • 09 Jun 23

UBS aims to close Credit Suisse deal by May or June

UBS chief executive Sergio Ermotti said today that the Swiss bank was working on closing its merger with Credit Suisse by the end of May or early June.

Business • 03 May 23

Sergei Roldugin received a state award from Vladimir Putin in 2016

4 guilty of helping Putin's friend set up bank account

Four bankers who helped a close friend of Russian President Vladimir Putin move millions of francs through Swiss bank accounts have been convicted of failing to perform due diligence in financial transactions.

World • 30 Mar 23

Switzerland on Sunday announced a multi-billion franc rescue of Credit Suisse, which will see it taken over by UBS

Swiss regulator defends decision to write off AT1 bonds

Switzerland's financial market regulator FINMA has defended its decision to impose steep losses on Credit Suisse bond holders today, saying the decision was legally watertight.

Business • 23 Mar 23

Switzerland's reputation as a global financial centre is on the line

Switzerland wakes to new era after historic bank merger

Switzerland awoke to a new era today after UBS swept up Credit Suisse in a government-brokered rescue that dented the country's long-held pride in its banking expertise.

Business • 20 Mar 23