Switzerland Financial News

18.07 / 09:53

UPS Lowe's Fighting Drag boost European shares gain on boost from Novartis, telecom stocks drag

European shares edged higher after a muted start on Tuesday, with Swiss stocks outpacing regional peers following a forecast upgrade by drugmaker Novartis, though a decline in telecom stocks capped the gains. The pan-European STOXX 600 rose 0.2% by 0819 GMT, following declines on Monday when Richemont's underwhelming results and weak economic data from China pummelled Europe's luxury sector. Novartis climbed 3.6% on Tuesday after the drugmaker raised its full-year earnings guidance and mapped out the planned spin-off of its generic medicines division Sandoz for early in the fourth quarter.

17.07 / 15:51

UPS Provident VISA Strategy MasterCard Long live the slowly dying and unlamented US dollar

A quiet but significant milestone was passed last year. For the first time in decades, by one estimation, the US dollar’s share in international reserves fell below 50%. Stephen Jen, a well-known currency analyst, estimates that the USD fell from about 73% of international reserves in 2001 to less than half in 2022.

17.07 / 15:29

Pool Emerson Nestle Swiss open 2023 Swiss Open Gstaad: Draw, schedule, players, prize money split and all you need to know

While Casper Ruud holds the distinction of being the two-time defending champion, he has made the decision to participate in the Swedish Open instead. As for this edition, Roberto Bautista Agut takes the lead as the top seed. The field also features other prominent players, including Viktor Axelsen, Lee Zii Jia, and Chou Tien-chen.

17.07 / 15:27

companies Acquisition liontrust GAM Bruellan NewGAMe GAM investor group hits back at Liontrust CEO over 'value-destructive M&A' track record

The investor group criticised Liontrust for being 'one of the worst-performing stocks in the fund management sector over the past 12-24 months'.

17.07 / 14:19

UPS Lowe's Cartier Richemont drops on signs luxury demand is weakening in US, China

Richemont led luxury-goods stocks lower amid concerns that demand in the US and China, two of the biggest markets for the industry, is starting to sputter.

17.07 / 10:13

Reuters Strategy UBS AXA Credit Suisse Ltd appoints Daniel Hunziker as Head of Corporate Banking while Andreas Gerber takes a break

leadership within its Corporate Clients area. Daniel Hunziker, who currently serves as the Head of Institutional Clients and is a member of the Executive Board, will now also take over the leadership of the Corporate Clients business, effective immediately, in addition to his current role. Also read: Insurer Swiss Re nominates new chairman after Sergio Ermotti resigns to lead UBS The appointment of Daniel Hunziker comes as Andreas Gerber, the current Head of Corporate Banking and a member of the Executive Board at Credit Suisse (Switzerland) Ltd., would be departing from the company.

17.07 / 07:51

companies liontrust GAM reports Deal Takeover Major GAM shareholder pushes back on Liontrust takeover deal - reports

In an email seen by the news outlet, the New York based alternatives manager has decided not to accept Liontrust’s takeover offer of the firm.

16.07 / 12:47

Wimbledon Championship 2023 Final: When and where to watch Carlos Alcaraz vs Novak Djokovic men's singles match

ALSO READ: Wimbledon 2023: Novak Djokovic set to equal Roger Federer, Swiss tennis legend says THIS… While on the other side, Spanish player Carlos Alcaraz will be hoping to clinch his maiden Wimbledon title. Before Wimbledon 2023 campaign, Alcaraz participated in Queen's Club Championship and won his first title on grass.

16.07 / 10:05

UPS Gap UBS Credit Suisse inquiry will keep files secret for 50 years: Paper

Credit Suisse will keep its files closed for 50 years, newspaper Aargauer Zeitung reported, triggering concerns among Swiss historians. The investigating commission will hand over its files, which include witness statements and documents to the Swiss Federal Archives after a much longer gap than the usual 30 years, the paper said.

16.07 / 05:37

PwC UBS Takeover UBS to retain EY as auditor after Credit Suisse takeover: Report

UBS Group has decided to retain EY as its external auditor, enlarging its role to include Credit Suisse's accounts from 2024, the Financial Times reported on Sunday, citing people with knowledge of the decision. The size of the contract will require the Big Four accounting firm to call in staff from other countries to work on the audit, two people told the FT.

16.07 / 05:31

PwC UBS Takeover Ft UBS to retain EY as auditor after Credit Suisse takeover- FT

(Reuters) — UBS Group has decided to retain EY as its external auditor, enlarging its role to include Credit Suisse's accounts from 2024, the Financial Times reported on Sunday, citing people with knowledge of the decision.

15.07 / 15:37

UPS Gap Strategy UBS Credit Suisse inquiry will keep files secret for 50 years

By John Revill

15.07 / 12:45

Cooper Chandrayaan-3 launch sets stage for space startup ecosystem: Jitendra Singh

New Delhi: Union minister Jitendra Singh on Saturday said that the successful launch of Chandrayaan-3 will boost space startups and space entrepreneurs. Addressing the G20 Young Entrepreneurs Alliance Summit, the minister said that the Indian Space Research Organization (ISRO) had made history in November last year by launching successfully India’s maiden private Vikram-suborbital (VKS) rocket.

14.07 / 15:19

UPS Action Eli Lilly to buy Versanis for up to $1.93 billion in obesity drugs push

By Sriparna Roy

14.07 / 12:29

companies liontrust GAM Future Liontrust CEO: 'The clock is now at one minute to midnight for the future of GAM'

John Ions (pictured) is the CEO of Liontrust Asset Management

14.07 / 11:33

Takeover Liontrust boss issues plea to GAM shareholders to back £96m takeover

The chief executive of Liontrust has written to GAM shareholders urging them to back its offer to acquire the business, telling them it is “the only one on the table” that can return the Swiss asset manager to profitability.

14.07 / 10:57

Target JPMorgan Citigroup Chase week Equities have performed their best since March this week

A rally in global stocks paused on Friday, though still on track for the best week since March, as earnings season in Europe and the US started to swing into gear.

14.07 / 09:45

UPS Booking CEO Exodus UBS Credit Suisse bleeds bankers, UBS saves on payouts

The exodus of talent from Credit Suisse’s investment bank has been higher than UBS expected, as rivals have made opportunistic moves to hire senior bankers and their teams.

14.07 / 01:27

Aware Parke Covenant Takeover NARCL's Dharani takeover hits a government bump

NARCL) takeover of the distressed Dharani Sugars & Chemicals account has been stalled as the government has refused to recognise the structure proposed by the bad-loan bank, three people aware of the issues said. The structure proposed by NARCL envisaged the creation of two trusts one of which is to exclusively deal with payments to State Bank of India (SBI) because the country's largest lender had exclusive security over some assets of Dharani. «SBI has some exclusive security in lieu of the loan they had given so they wanted some extra payments post recovery.

13.07 / 13:55

Adoption Bitcoin Exec shares process of setting up a business in Switzerland with Bitcoin

While Switzerland has been popular among the wealthy for its prowess in banking, the country has also been slowly welcoming those who mainly want to use Bitcoin (BTC) as an alternative form of money.

13.07 / 13:27

Europe FTX Lawyers recovery FTX Bankruptcy Case: Lawyers Seek $323.5 Million Recovery from FTX Europe Leadership

FTX lawyers have filed a court motion seeking the recovery of $323.5 million from the leadership of FTX Europe, which includes Patrick Gruhn, Robin Matzke, Brandon Williams, and Lorem Ipsum UG.

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