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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

The 167-year-old Credit Suisse's problems have shifted the focus for investors and regulators from the US to Europe

Credit Suisse shares soar after central bank lifeline

Shares of embattled Credit Suisse surged this morning after announcing it would borrow up to $53.7 billion from the Swiss central bank, calming markets following the worst trading day in its history.

Business • 16 Mar 23

Saudi National Bank holds a 9.88% stake in Credit Suisse

Swiss regulators rush to calm fears over Credit Suisse

Swiss regulators said Credit Suisse can access funds from the central bank if needed, racing to calm fears around the lender after it led a rout in European bank shares today.

Business • 15 Mar 23

The bank's annual report had been delayed after a request from the US SEC, which had raised questions about the bank's earlier financial statements

Credit Suisse flags 'material weaknesses' in reporting

Credit Suisse said in its 2022 annual report the bank has identified "material weaknesses" in internal controls over financial reporting and not yet stemmed customer outflows.

Business • 14 Mar 23

Credit Suisse, Switzerland's second biggest bank, posted a net loss in the fourth quarter of 1.39 billion francs, in line with expectations

Credit Suisse warns of more losses as it falls into red

Credit Suisse has today reported its worst annual loss since the 2008 global financial crisis, hit hard by client withdrawals and warned that a further "substantial" loss would come this year.

Business • 09 Feb 23

A general view of a mountain ridge where an avalanche occurred in St Anton am Arlberg, western Austria

Avalanches in Austria and Switzerland leave five dead

Avalanches in Austria and Switzerland have left five people dead, with three of those killed while visiting Austria's Alpine regions.

World • 04 Feb 23

Ursula von der Leyen said there are plans to make Europe the home of clean technology

EU to prepare law to support its green industry

The European Union is to prepare a law to make life easier for its green industry and keep businesses from moving to the United States.

World • 17 Jan 23

The incident happened at the border between Germany and the Swiss capital Basel

Car carrying 23 family members stopped at Swiss border

Police said Tuesday they were "amazed" to find an SUV at the Swiss-German border crammed with 23 members of the same family.

News Lens • 03 Jan 23

Refugees are mostly from Afghanistan, Sudan and Syria (stock image)

Switzerland suspends intake of vulnerable refugees

Switzerland has temporarily suspended participation in a UN programme aimed at resettling vulnerable refugees, blaming incapacity as it faces an influx of people fleeing Ukraine, authorities have confirmed.

World • 19 Dec 22

The Swiss bank is getting back on track after the biggest crisis in its 166-year history

Credit Suisse raises $2.4 billion in revamp cash call

Credit Suisse has hailed a "milestone" in its turnaround plan after raising 2.24 billion Swiss francs ($2.39 billion) as part of a 4 billion franc cash call.

Business • 09 Dec 22

The couple returned the cash to the man when they found his address in an envelope (file pic)

$20,000 found on Swiss street returned to elderly man

When an elderly man suddenly realised that he was missing more than $20,000 in cash just withdrawn from a Swiss bank, he assumed he had been robbed.

World • 01 Dec 22

The Swiss lender racked up an unexpected 4 billion Swiss franc loss in the third quarter of 2022

Credit Suisse seeks billions from investors in overhaul

Credit Suisse plans to raise 4 billion Swiss francs ($4 billion) from investors, cut thousands of jobs and shift its focus from investment banking towards its rich clients, as the bank attempts to put years of scandals behind it.

Business • 27 Oct 22