Switzerland Financial News

The greenback is once more proving it’s the only haven that matters.

The Dollar Strength Index (DXY) achieved its highest level in nearly 10 months on Sep. 22, indicating growing confidence in the U.S. dollar compared to other fiat currencies like the British pound, euro, Japanese yen, and Swiss franc.

MILAN — The Milan fashion world has become a designer carousel. Powerhouse Gucci and Swiss luxury brand Bally both introduced designers this season, while Tod's bade their creative director farewell and Moschino is in an interim phase.

Agent Andrea Giusti said in an email that Loren fell in a bathroom on Sunday and the surgery was performed later that day. The operation “went very well and now we only need to wait,” Giusti said. The actress broke both her hip and a thigh bone, the agent said. The actor's sons Carlo and Edoardo are by her side at the hospital, they added. It wasn't immediately clear when Loren would be discharged from the hospital. Loren has lived in a Swiss villa near Lake Geneva for decades. Earlier this month, she appeared, looking radiant, with Italian designer Giorgio Armani in Venice at a fashion show held on the sidelines of the city’s annual film festival. Born into poverty in Naples, Loren rose to become a Hollywood star, earning two Oscars along the way.

Investing.com — The U.S. dollar edged higher, just below the recent six-month high, making a steady start to the new week as traders digested last week’s series of central bank interest rate decisions.

crypto market displayed a sideways trend, influenced by various industry developments and macroeconomic factors. Bitcoin started trading at the $26,000 mark and briefly surged above $27,000. However, it faced resistance around the $27,500 level, leading to a subsequent downward movement. Presently, BTC is trading at approximately $26,600. If BTC continues its decline, it may retest the support zone at $25,400. Despite experiencing a 60% decline from its all-time high, BTC has posted a 2.34% gain month-to-date and a remarkable 60% increase year-to-date. Additionally, this week the U.S. Federal Reserve convened for a meeting to discuss interest rate hikes. Fed Chair Jerome Powell indicated that the central bank would consider additional rate hikes if the economy continues to outperform expectations. The benchmark interest rate presently remains in the range of 5.25% to 5.50%. Concurrently, market participants are reacting to the U.S. benchmark 10-year note yields reaching 4.490%, the highest level since November 2007. These events have induced a bit of bearish sentiments in the markets. Similarly, Ethereum (ETH) has mirrored BTC's movements. ETH encountered bearish momentum below the $1,600 level. A breakthrough above the $1,620 resistance could propel its price toward $1,650, while a failure to clear immediate support may lead to a decline towards the $1,565 level. In an interesting turn of events, Germany's largest lender, Deutsche Bank, announced a collaboration with Swiss startup Taurus to establish digital asset custody and tokenization services, highlighting the growing involvement of traditional financial institutions in the crypto space.

ZURICH (Reuters) — The war in Ukraine has reduced economic growth and «considerably» pushed up inflation across Europe, the Swiss National Bank said in a study published on Friday, with worse effects still to come.

By Mark John

By Naomi Rovnick and Dhara Ranasinghe

On Wednesday, Sept. 20, the United States House Financial Services Committee marked up two bills to curb the issuance of a central bank digital currency (CBDC). One of the bills would stop the Federal Reserve from running any test programs on CBDCs without congressional approval, while the other would stop federal banks from using CBDCs for some services and products. 

Gala Games (GALA) continues to tumble in the aftermath of a legal dispute between co-founders Eric Schiermeyer and Wright Thurston, which has so far seen GALA bleed-out -32%.

Private credit is going through a golden era, according to its fans, but a handful of asset managers are refusing to be dazzled by the biggest part of the booming $1.5 trillion market: direct lending.

Investing.com — U.S. stocks seen lower, while the dollar soars and U.S. bond yields head higher after the Federal Reserve suggested interest rates will stay higher for longer in the wake of its latest policy decision. The Bank of England faces a tricky rate decision, while the Swiss National Bank halted its rate-hiking cycle.

By Terje Solsvik

LONDON (Reuters) — In a big day for central banks across Europe on Thursday, Switzerland shocked markets by leaving its interest rates unchanged, while Sweden and Norway met expectations with a quarter-point hike each.

(Reuters) — European shares fell on Thursday, tracking overnight losses on Wall Street after the U.S. Federal Reserve signalled higher-for-longer interest rates and ahead of rate decisions from the Swiss National Bank, Riksbank, Norges Bank and Bank of England.

India has won the bid to host the International Congress on the Chemistry of Cement (ICCC) here in 2027, where global leaders, academicians, and professionals would deliberate on progress of research in this sector, an official statement said.

National Asset Reconstruction Company (NARCL) emerged as the winning bidder for the debt of Dharani Sugars and Chemicals at an uncontested Swiss auction, paving the way for the promoter to submit a fresh settlement offer with the new lender, said people aware of the development. The Supreme Court had stayed a liquidation order of the sugar maker given by the National COmpany Law Tribunal (NCLT). The National Company Law Appellate Tribunal, too, had upheld the NCLT order. Lenders did not receive any counteroffer for the ₹222.5 crore binding offer by NARCL, which triggered a Swiss challenge auction held on September 18. Officials from Dharani Sugars declined to comment on the matter. Dharani Sugars, which was admitted for insolvency in July 2021, had admitted claims of ₹707 crore. The resolution professional received two plans but 91.9% of lenders rejected both on May 18, 2023.

Nifty closed with solid losses on Wednesday, extending their losses into the second consecutive session amid mixed global cues ahead of the US Fed policy outcome while the US Treasury yields hovered near multi-year highs. The Fed is likely to keep rates unchanged today but the risk of inflation is not over yet with crude oil prices surging sharply in the recent past. Crude oil benchmark Brent Crude futures fell over a per cent in today's trade, slipping from its 10-month high level but they are still up nearly 30 per cent in the last three months after the output cut by OPEC+.

ZURICH (Reuters) — Switzerland's economy is expected to grow by 1.3% this year, the government said on Wednesday, significantly below the country's long-term average as industry struggles with weak demand abroad and a strong Swiss franc.

UBS might have put more and more people Credit Suisse people on the chopping block, but that doesn’t mean there isn’t room for fresh faces in the right departments. New people are joining just fine.