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☆ Sergio Ermotti, UBS CEO, is leading the biggest banking deal in history. Failure is not an option
▼ + stars: | 2023-11-13 | by ( Hanna Ziady | ) edition.cnn.com time to read: +11 min

The caller was UBS (UBS) chairman Colm Kelleher. “I was definitely not expecting the phone call,” Ermotti told CNN on the sidelines of a conference in Geneva last month. UBS paid 60% less than the beaten-down value of Credit Suisse shares just before its last-ditch rescue over a weekend. Even if Credit Suisse had none of that painful baggage, the sheer size of the two banks makes the merger an enormous undertaking. “The fact that UBS was asked to be part of the solution (to Credit Suisse), that was the ultimate success,” Ermotti told CNN.

Persons: Sergio Ermotti, Colm Kelleher, Ermotti, ” Ermotti, Anke Reingen, Roger Federer, “, ”, Morgan Stanley, ” Kelleher, Michael Buholzer, it’s, Katrin Koch, Tom Naratil, —, Merrill Lynch, Stefan Wermuth, Oswald Gruebel, ” Christopher Wheeler, Fabrice Coffrini, … Organizations: Switzerland CNN, UBS, Credit Suisse, CNN, Bank of America, JPMorgan, HSBC, RBC Capital Markets, RBC, Ermotti’s, Banca, Citi, UBS —, Bloomberg, New York Times, Getty Locations: Geneva, Switzerland, Swiss, Zurich, Lugano, Singapore, Europe, Middle East, Africa, New York, AFP

☆ SNB defends raising rates, says not to blame for Credit Suisse failure
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +2 min

The SNB has increased interest rates four times over the past year to reduce inflation which has persisted above the central bank's target of 0%-2%. "Interest rates in Switzerland are still very low," Jordan told an event in Lugano, southern Switzerland. Indeed, higher rates can be seen as a positive for financial stability by helping banks to restore their profit margins, he said. "We had this financial stability issue with Credit Suisse, but that was something different," Jordan said. "This is an individual case, where interest rates were not the problem but rather a lack of trust of market participants in an institution."

Persons: Thomas Jordan, Jordan, John Revill, Alison Williams Organizations: Credit Suisse, Swiss National Bank, Wednesday, UBS, Thomson Locations: ZURICH, Switzerland, Lugano

☆ Can the UK afford to host Ukraine’s Eurovision? It can’t afford not to
▼ + stars: | 2023-05-12 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +9 min

watch nowThe U.K. will host the 67th Eurovision Song Contest on May 13. What is the Eurovision Song Contest? The U.K. is hosting the 67th edition of the Eurovision Song Contest in 2023, as the war remains ongoing in Ukraine, 2022's winners. For one, the competition can be a great advert for the host city — and country — which can endure well after the party is over. Electro-pop duo Tvorchi is representing Ukraine in the 2023 Eurovision Song Contest.

☆ Gold advances on softer dollar as traders await U.S. inflation data
▼ + stars: | 2023-04-11 | by ( ) www.cnbc.com time to read: +2 min

A mark of 999.9 fine sits on hallmarked one kilogram gold bullion bars at the Valcambi SA precious metal refinery in Lugano, Switzerland, on April 24, 2018. Gold prices gained on Tuesday after falling over 1% in the previous session, as the dollar eased ahead of key U.S. inflation data. U.S. gold futures rose 0.5% to $2,013.30. The opportunity cost of holding the non-yielding bullion rises when interest rates are raised to bring down inflation. Data on Tuesday showed top bullion consumer China's March consumer inflation hit the slowest pace since September 2021 and suggested demand weakness persisted amid an uneven economic recovery.

☆ Elvețienii au respins interzicerea pesticidelor de sinteză și a legii care vizează reducerea emisiilor de CO2
▼ + stars: | 2021-06-14 | by ( ) www.jurnal.md time to read: +2 min

Sursa foto: GettyImagesElvețienii au respins interzicerea pesticidelor de sinteză și a legii care vizează reducerea emisiilor de CO2Elveţienii au respins duminică, prin referendum, interzicerea pesticidelor de sinteză și a importurilor de alimente produse în străinătate, care conțin astfel de substanțe. De asemenea, au respins o lege care vizează reducerea emisiilor de CO2. Interzicerea pesticidelor de sinteză în termen de zece ani, precum şi orice import de alimente produse în străinătate cu ajutorul lor sau care le conţine, a fost respinsă cu aproape 63%, potrivit primelor rezultate oficiale, scrie Agerpres, preluând Reuters. Creşterea impozitului pe păcură, respinsăPe de altă parte, elveţienii chemaţi la urne nu au validat legea ce vizează reducerea emisiilor de CO2 până în 2030. Un alt text supus la vot, legea COVID, care conferea guvernului puteri suplimentare pentru a combate epidemia şi a atenua efectele acesteia asupra societăţii şi a economiei, a obţinut sprijinul a 59% din elveţieni.

Persons: poliţia Organizations: Reuters, ONU Locations: străinătate, Agerpres, Elveţia, Morges, Lugano, elveţieni

☆ Posibil atac terorist, comis de o femeie la Lugano, în Elveția
▼ + stars: | 2020-11-24 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

O femeie în vârstă de 28 de ani a apucat o femeie de gât şi a înjunghiat o alta, marți, într-un magazin din Lugano, din cantonul elvețian Ticino. Şefa poliţiei naţionale, Nicoletta della Valle, a declarat că suspectează o motivaţie teroristă a atacului. Una din victime are răni destul de grave, dar care nu îi pun viaţa în pericol, iar cealaltă a fost rănită uşor. Suspecta, care locuieşte în zonă și are cetățenie elevețiană, a fost reţinută, a transmis poliţia. La rândul său, Parchetul general elveţian a anunțat că a deschis o anchetă pentru „atac suspectat că ar avea o motivaţie teroristă”, informează agențiile internaționale de presă, preluate de Agerpres.

Organizations: elveţian, Agerpres, Stat Islamic Locations: Lugano, elvețian Ticino

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