Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Swiss Federal"


25 mentions found


Ukraine’s rail network, known as Ukrzaliznytsia or UZ for short, has always been a source of pride and practicality in the eastern European nation, even before the war. ‘Constant threat’Ukraine's rail network, known as Ukrzaliznytsia or UZ for short, has always been a source of pride and practicality in the eastern European nation. UZ says a further $9 billlon is likely required to repair and modernize the existing UZ network, which at 19,700 kilometers is one of the world’s longest. “Our responsibility is to be a stable partner.”Indeed, despite the war, UZ says it has repaired and renewed 289 kilometers of track in 2023, rebuilt 15 bridges, built 528 new freight cars and repaired around 9,000 others. Britain’s Network Rail and Swiss Federal Railways are providing engineering support to help rebuild damaged infrastructure, while the Global Ukraine Rail Task Force (GURTF) was established in 2022 to raise funds to support Ukrainian rail workers and their families.
Persons: UZ, – UZ, , Jeff J Mitchell, Yarema Dul, , ” UZ, it’s, Ukraine’s, Olena Zelenska, Dul, Transport Network Mykola Panov, Oleksandr Pertsovskyi, Yevhen Liaschenko, ” Liaschenko, GURTF, Andy Bagnall Organizations: CNN, UNICEF, Russia, UZ’s, Transformation Department, Transport Network Mykola, CNN Travel, , ” Railway, Publishing, Transport Network, Britain’s, Rail, Swiss Federal Railways, Global Ukraine Rail Task Force, Rail Partners Locations: Russia, Ukraine, Kyiv, Lviv, Warsaw, Vienna, Panama7, Odesa, Kharkiv, Russian, Poland, Germany, Soviet Union, Budapest, Prague, Berlin, Hungary
Twenty years after its launch, social media giant Facebook continues to show unprecedented staying power after burying early competitors like MySpace and Friendster and establishing a distinct foothold in the burgeoning social media landscape. Daniel Acker/Bloomberg/Getty ImagesStrong social connection was the linchpin of Facebook, differentiating it from other primordial social media sites. MySpace’s monthly active users had trickled down to an estimated 35 million in mid-2011, according to a Comscore report at the time. In contrast, by September of that year, Facebook was seeing almost 800 million monthly active users. In April 2012, the company acquired photo-centric social media platform Instagram for about $1 billion.
Persons: Harvard University undergrad, Mark Zuckerberg, , , Pablo Boczkowski, alums, ” Zuckerberg, Daniel Acker, Justin Timberlake, Friendster’s, Friendster, Boczkowski, Meta’s, ” Boczkowski, WhatsApp, Meta Organizations: New, New York CNN, Harvard University, Facebook, Communication Studies, Northwestern University, Harvard, New York Times, Bloomberg, Getty, MySpace, Swiss Federal Institute of Technology, Google, Meta, Inc, , TikTok, Twitter Locations: New York, Zurich, India, Brazil, Argentina, Italy
CNN —The United States Figure Skating team will receive a gold medal for their team event at the 2022 Beijing Winter Olympics, after Russian figure skater Kamila Valieva was handed a four-year ban Monday over a long-running doping controversy. Valieva, now 17, had led the Russian Olympic Committee to first place in the team event ahead of the US and Japan — before her doping test came back positive for performance-enhancing substance trimetazidine. CNN Sport has contacted the International Olympic Committee (IOC), the Japanese Olympic Committee and the Russian Olympic Committee for further comment. Even with the latest news of Valieva’s ban, Alexander Kogan, director general of the Russian Figure Skating Federation, said that he still views his athletes to be the champions in the team event. In its Monday announcement, CAS said that the decision to ban Valieva for four years is “final and binding,” explaining that the parties can appeal to the Swiss Federal Tribunal “within 30 days on limited grounds.”
Persons: Kamila Valieva, Japan —, Valieva, , Sarah Hirschland “, Evan Bates, Karen Chen, Nathan Chen, Madison Chock, Zachary Donohue, Brandon Frazier, Madison Hubbell, Alexa Knierim, Vincent Zhou, Alexander Kogan Organizations: CNN, United, Skating, Russian Olympic Committee, Olympic, Paralympic, IOC, International Olympic Committee, International Skating, CNN Sport, Japanese Olympic Committee, Swiss Federal Locations: United States, Japan, Canada, Beijing
CNN —Russian figure skater Kamila Valieva has been found guilty of an anti-doping violation by Switzerland’s Court of Arbitration for Sport (CAS) and has received a four-year ban from competitions. In Beijing, Valieva’s Russian Olympic Committee (ROC) team had finished first ahead of the US and Japan – with Canada finishing fourth – and no medals were subsequently awarded due to the doping controversy. CNN Sport has contacted the International Olympic Committee (IOC), the ISU, the Japanese Olympic Committee, the Canadian Olympic Committee, and the Russian Olympic Committee for further comment. RUSADA had changed its initial stance and sought a punishment that “may include or be limited to a reprimand” for Valieva, CAS announced in February last year. Russian athletes were competing as neutral athletes at the Winter Olympics in Beijing due to a previous ban for doping non-compliance.
Persons: Kamila Valieva, Valieva, Catherine Ivill, Ms Valieva, Travis Tygart, Sarah Hirshland, RUSADA, , Alexander Kogan, WADA, , ” CNN’s Jill Martin, Thomas Schlachter, Anna Chernova Organizations: CNN, Switzerland’s, Sport, Valieva, Russian Olympic Committee, Canada, International Skating Union, ISU, Winter Games, CNN Sport, International Olympic Committee, Japanese Olympic Committee, Canadian Olympic Committee, Doping Agency, Olympic, Paralympic, Team USA, , IOC, RIA Novosti, Skating, Swiss Federal Locations: Russian, Beijing, Japan, US
Ukraine says China needed for peace process after Davos meeting
  + stars: | 2024-01-15 | by ( ) www.cnbc.com   time to read: +2 min
China needs to be involved in talks to end the war with Russia, Ukraine's top representative said after a high-level diplomatic meeting ahead of the World Economic Forum in Switzerland. Ukraine's presidential chief of staff Andriy Yermak said on Sunday it was important that Russian ally China was at the table when Kyiv convenes further meetings on its peace formula. Zelenskiy is due to arrive in Bern, Switzerland on Monday to meet the President of the Swiss Confederation Viola Amherd. We must find ways to work with China on this," Cassis said, adding that both Russia and Ukraine were not willing to make concessions. The role of the Global South in Ukraine's peace formula talks has come into focus in the lead up to Davos.
Persons: Volodymyr Zelensky, Andriy Yermak, Li Qiang, Volodymyr Zelenskiy, Li, Yermak, Viola Amherd, Ignazio Cassis, Cassis, Jamie Dimon, Vladimir Putin Organizations: Economic, Swiss, JPMorgan, Ukraine, Bloomberg News, Dimon, Cuban Missile, European Union, Kyiv, Global, United Nations Locations: Davos, China, Russia, Ukraine's, Switzerland, Ukrainian, Bern, Swiss, Ukraine, Brazil, India, South Africa, Africa, Latin America, East, Asia
Wherever they run, night trains are complicated, labor intensive and expensive to operate – one of the major reasons they went into decline in the first place. The $770 million contract could eventually see up to 370 new overnight carriages introduced to update Italy’s entire overnight train fleet. “Politicians must be clear: the night train market will be effectively closed for a very long time,” he says. So, what does all this mean for the much-vaunted night train revolution? With the honorable exception of government-subsidized Nightjet, which plans to expand rapidly over the next five years, European night train services have yet to match the hype.
Persons: Love, James Brown, David Bowie, Ray Charles, , they’ve, Charisius, Agatha Christie, James Bond, Mark Smith, , , ÖBB, “ Superliner, Kuleshova, Smith, it’s, Alex Halada, Nick Brooks Organizations: CNN, Orient Express, Austrian Federal Railways, Swiss Federal Railways, Deutsche Bahn, Italian State Railways, Amtrak, California Zephyr, European, Bloomberg, Getty, Regiojet, Compagnie Internationale des, VIA Rail, European Union, Frankfurt, Eurostar, EU Rail, EU Locations: Europe, Russia, Scandinavia, Vienna, Hamburg, Germany, Austria, Italy, Hungary, Poland, Czech Republic, Paris, Brussels, Amsterdam, France, Sweden, Milan, Sicily, Messina, Europe’s, United States, Berlin, Stockholm, Denmark, Czech, Prague, Croatia’s, London, Dresden, Copenhagen, Barcelona, Spain, Venice, Florence, Rome, Madrid, Porto, Portugal, Edinburgh, Zurich, AFP, EU
It’s a scene most of us might associate with an open savannah in a nature documentary, but photographer Andy Murray is watching the drama unfold from his back garden in Somerset, UK. To Murray, these microscopic soil animals are as fascinating as the lions and zebras you might see on safari – just far more accessible, if you know where to look. “They live in this tiny world; it works like our world, it’s just on a really small scale,” he tells CNN. Andy MurrayYet despite this wealth of life, the creatures living in the soil beneath our feet are relatively unknown. “He captures moments of soil life doing interesting and cool things,” says Anthony, such as laying eggs in a place where we would never expect.
Persons: Andy Murray, He’s, Murray, , , Mark Anthony, Anthony, they’ve, it’s Organizations: CNN, United Nations, Food, Agricultural Organization, Swiss Federal Research Institute for Forest, Research Locations: Somerset, Mexico City, Europe, Australia, New Zealand, Tasmania
Semenya case referred to European rights court's grand chamber
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: +2 min
She is attempting to overturn requirements that female athletes with differences in sexual development (DSDs) medically reduce their testosterone levels. It was not a judgement against the World Athletics regulations. The Swiss referral will now be heard by the full 17-member ECHR Grand Chamber. Semenya told Reuters last month that her competitive running days are likely over but she remained committed to the legal battle against World Athletics. "World Athletics has only ever been interested in protecting the female category.
Persons: Aleksandra Szmigiel, Semenya, Nick Said, Ken Ferris Organizations: Hayward Field, European, of Human Rights, Chamber, hyperandrogenism, Sport, Swiss, Court, Reuters, World Athletics, womens, Thomson Locations: Eugene , Oregon, U.S, Swiss, Semenya
International Olympic Committee (IOC) President Thomas Bach gestures as he speaks during a news conference, ahead of the 141st IOC Session, in Mumbai, India, October 13, 2023. REUTERS/Niharika Kulkarni/File Photo Acquire Licensing RightsNov 6 (Reuters) - The Court of Arbitration for Sport (CAS) has registered an appeal filed by the Russian Olympic Committee (ROC) against the decision by the International Olympic Committee (IOC) to suspend its membership, the independent judicial body said on Monday. The challenge arose over the IOC's suspension of the ROC following the ROC decision to include as its members some regional sports organisations which are under the authority of the National Olympic Committee (NOC) of Ukraine. "The CAS arbitration proceedings have commenced. The Russian Olympic Committee was banned with immediate effect on Oct. 12 for recognising regional organisations from four territories annexed from Ukraine, the International Olympic Committee said.
Persons: Thomas Bach, Niharika Kulkarni, Vladamir Putin, Putin, Trevor Stynes, Christian Radnedge Organizations: Olympic Committee, 141st IOC, REUTERS, Sport, Russian Olympic Committee, International Olympic Committee, National Olympic Committee, IOC, Olympic, Sports, Russian Olympic, Sporting Power, Swiss, Thomson Locations: Mumbai, India, ROC, Ukraine, Luhansk, Donetsk, Kherson, Zaporizhzhia, Russia, Perm
"My last chance to win at the Olympics was in 2016 – Paris is not my goal," Semenya told Reuters. That decision could yet be appealed and is not a judgement against the World Athletics regulations. Semenya believes World Athletics’ regulations are a "racial issue". World Athletics has denied this is the case. "World Athletics has only ever been interested in protecting the female category.
Persons: Semenya, Nick Said Organizations: World Athletics, hyperandrogenism, Reuters, Sport, Athletics, Thomson Locations: PRETORIA, Paris, Semenya, Swiss, Africa
The Swiss Parliament Building (Bundeshaus) is pictured in early autumn light in Bern, Switzerland October 11, 2021. The SVP cemented its place as the biggest group in parliament's lower house, increasing its share of the vote to 28.6%, according to data from the Swiss Federal Statistics Office. The SVP also highlighted the expense of the asylum system, while arguing that crime rates were rising because of immigration. Switzerland's second-biggest party, the left-leaning Social Democrats (SP) also slightly increased its share of the vote to 18%. The big loser in the election was the Green Party, whose support fell 3.8 percentage points, losing them five seats.
Persons: Denis Balibouse, Switzerland's, Cedric Wermuth, John Revill, Hugh Lawson Organizations: Swiss, Rights, Swiss People's Party, SVP, Swiss Federal Statistics Office, National Council, Social Democrats, Green Party, pollsters GFS, Thomson Locations: Bern, Switzerland, Ukraine, pollsters, pollsters GFS Bern
Gulnara Karimova (C), daughter of Uzbekistan's President Islam Karimov, takes a video with an Ipad as her father dances during an Independence Day celebration in Tashkent August 31, 2012. REUTERS/Shamil Zhumatov/File Photo Acquire Licensing RightsZURICH, Sept 28 (Reuters) - Switzerland's federal prosecutor said on Thursday it has filed an indictment against the daughter of Uzbekistan's former president, accusing her of taking bribes and running an elaborate criminal organisation known as "The Office". Huge sums were involved, with more than 340 million Swiss francs ($370.25 million) already confiscated with a view to being returned to Uzbekistan. The case has been filed to the Swiss Federal Criminal Court. ($1 = 0.9183 Swiss francs)Reporting by John Revill, Editing by Rachel More, Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Gulnara Karimova, Islam Karimov, Shamil Zhumatov, Uzbekistan's, Karimova, John Revill, Rachel More, Alexandra Hudson Organizations: REUTERS, Rights, Karimova, United Nations, Swiss Federal, Court, Alexandra Hudson Our, Thomson Locations: Tashkent, Uzbekistan, Switzerland, Uzbek, Russian, Geneva, Swiss
GENEVA (AP) — Swiss federal prosecutors on Tuesday said they have indicted a former employee of oil trading giant Gunvor over bribes paid to obtain access to the Republic of Congo's petroleum market more than a decade ago. The attorney general's office says the indictment follows an eight-year investigation, during which the company itself was ordered to pay 94 million Swiss francs (dollars) in 2019 over the bribery allegations. The next day, the U.S. government announced sanctions against Russian interests, including Timchenko himself. Gunvor has since stopped its operations in the Republic of Congo, and said it has improved its compliance programs. Gunvor's main trading office is in Geneva, but its headquarters are in Nicosia, Cyprus.
Persons: , Gunvor, Torbjörn Törnqvist, Gennady Timchenko, Vladimir Putin, Timchenko Organizations: GENEVA, Locations: — Swiss, Republic, Congo, Brazzaville, Ukraine, U.S, Republic of Congo, Geneva, Nicosia, Cyprus
In Ukraine, Mathematics Offers Strength in Numbers
  + stars: | 2023-09-12 | by ( Siobhan Roberts | ) www.nytimes.com   time to read: +1 min
On a Saturday evening in August, two Ukrainian mathematicians, Maryna Viazovska and Masha Vlasenko, set out on a 19-hour train trip from Warsaw to Kyiv. They were en route to a conference titled “Numbers in the Universe: Recent Advances in Number Theory and Its Applications.” Symbolically, the journey served to plant a flag. The event marked the opening of the International Center for Mathematics in Ukraine, or I.C.M.U., which was established on paper in November. “The goal is to bring the world of mathematics to Ukraine and open, or reopen, Ukrainian science for the world,” said Dr. Viazovska, of the Swiss Federal Institute of Technology in Lausanne. She won a Fields Medal in 2022 and serves as scientific lead on the center’s coordination committee.
Persons: Maryna Viazovska, Masha Vlasenko, , , Viazovska, Jean, Pierre Bourguignon Organizations: International Center for Mathematics, Swiss Federal Institute of Technology, European Research Council Locations: Warsaw, Kyiv, Ukraine, Lausanne, London
GENEVA (AP) — Voters in a southern Swiss region on Sunday rejected a plan to allow large solar parks on their sun-baked Alpine mountainsides as part of the federal government’s push to develop renewable energy sources. The rejection doesn't torpedo solar parks entirely if the private sector wants to develop them. At stake is up to 60% of financing for big solar parks. The federal energy department estimates that about 40 to 50 proposals for large solar parks have been made across the country. Overall, Swiss federal authorities have set a target of 2 billion GWh in new solar energy under legislation promoting development of solar energy, adopted in September 2022.
Persons: Organizations: GENEVA, — Voters, Swiss People's Party Locations: Swiss, Valais, Switzerland, Bern Oberland
CNN —A Swiss national and 13 Myanmar citizens were arrested by the military junta on August 8 for working on a film authorities say harms Buddhist culture and tradition, state-funded media has reported. According to the junta, all 14 people allegedly worked on the film “Don’t Expect Anything,” which was released on July 24 on YouTube and TikTok, Myawady Daily said. Myawady added that the junta believe that the film is intended to mislead audiences about Buddhists and Buddhist monks, and that it harms Buddhist culture and tradition. “The local Swiss representation is in contact with the relevant authorities,” the spokesperson added. A Dutch tourist was sentenced to three months hard labor in 2016 after unplugging a speaker relaying a sermon.
Persons: CNN —, Myawady, , unplugging Organizations: CNN, YouTube, Swiss Federal Department of Foreign Affairs Locations: Swiss, Myanmar, Myawady, Yangon
The logos of Swiss banks Credit Suisse and UBS on March 16, 2023 in Zurich, Switzerland. UBS on Friday said that it has ended a 9 billion Swiss franc ($10.27 billion) loss protection agreement and a 100 billion Swiss franc public liquidity backstop that were put in place by the Swiss government when it took over rival Credit Suisse in March. UBS said the decision followed a "comprehensive assessment" of Credit Suisse's non-core assets that were covered by the liquidity support measures. "These measures, together with the intervention of UBS, contributed to the stabilization of Credit Suisse and financial stability in Switzerland and globally," UBS said in a statement. Credit Suisse has also fully repaid an emergency liquidity assistance plus (ELA+) loan of 50 billion Swiss francs obtained from the Swiss National Bank in March, as the lender teetered on the brink after a collapse in shareholder and investor confidence, UBS confirmed.
Organizations: Credit Suisse, UBS, Swiss National Bank, Confederation, Swiss Federal Council Locations: Zurich, Switzerland, Swiss
SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Walt Disney Studios in Burbank, California, U.S., July 31, 2023. As evidence of its interest, Disney has 11 current job openings seeking candidates with expertise in artificial intelligence or machine learning. AI has become a powder keg in Hollywood, where writers and actors view it as an existential threat to jobs. In Switzerland, Disney Research has been exploring AI, machine learning and visual computing, according to its website. This technology is used to augment digital effects, not replace human actors, according to a source familiar with the matter.
Persons: Mario Anzuoni, Walt Disney, Walt Disney Imagineering, Indiana Jones, Disney Imagineer, Groot, Imagineer, Harrison Ford, STEAMBOAT WILLIE, Willie, Bob Iger, Marvel, Hao Li, Li, Scott Trowbridge, Dawn Chmielewski, Krystal Hu, Kenneth Li, Matthew Lewis Organizations: Writers Guild of America, Walt Disney Studios, REUTERS, Hollywood, Reuters, Disney, Guardians, Screen Actors Guild, STEAMBOAT, U.S . Patent, Swiss Federal Institute of Technology, Carnegie Mellon University, Disney Research, Star, Galactic, Thomson Locations: Burbank , California, U.S, Hollywood, Zurich, Pittsburgh , Pennsylvania, Pittsburgh, Disney's, Switzerland, Los Angeles, New York
ZURICH (Reuters) -A 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. The investigation will focus on the activities of the Swiss government, financial regulator and central bank in the run up to the emergency takeover of Credit Suisse by UBS in March. “After the completion of the investigation, the files shall be handed over to the Federal Archives and shall be subject to an extended protection period of 50 years,” the committee said in a strategy paper outlining its communication policy. “Should researchers want to scientifically investigate the 2023 banking crisis, access to the CS files would be invaluable,” Zala wrote, according to the newspaper. “Indiscretions complicate the work or damage the credibility of the commission and can have negative consequences for the Swiss financial centre,” the committee added.
Persons: Sacha Zala, Isabelle Chassot, , ” Zala Organizations: Suisse, Swiss Federal Archives, Credit Suisse, UBS, Swiss, Federal Archives, Aargauer Zeitung, Swiss Society Locations: ZURICH, Swiss, Bern
[1/2] The logo of Credit Suisse is pictured in front of the Swiss Parliament Building, in Bern, Switzerland, March 19, 2023. REUTERS/Denis Balibouse/File PhotoZURICH, July 15 (Reuters) - A parliamentary investigation into the collapse of Credit Suisse will keep its files closed for 50 years, newspaper Aargauer Zeitung reported, triggering concerns among Swiss historians. The Swiss parliament did not respond to a request for comment on Saturday. The investigation will focus on the activities of the Swiss government, financial regulator and central bank in the run up to emergency takeover of Credit Suisse by UBS in March. It could have the power to question the Credit Suisse bankers involved, but they will not be the focus of the inquiry.
Persons: Denis Balibouse, Sacha Zala, Isabelle Chassot, Zala, John Revill, David Evans Organizations: Credit Suisse, Swiss, REUTERS, Suisse, Aargauer Zeitung, Swiss Federal Archives, Swiss Society, UBS, Thomson Locations: Bern, Switzerland, ZURICH, Swiss
July 11 (Reuters) - Europe's top human rights court ruled in favour of Olympic runner Caster Semenya on Tuesday, saying courts in Switzerland should give her a new chance to fight a requirement that female athletes with high natural testosterone take drugs to lower it. The ECHR ruled, by a slender majority of four votes to three, that Semenya's original appeal against World Athletics regulations had not been properly heard. The Court of Arbitration for Sport ruled in 2019 that World Athletics' rules were necessary for fair female competition. At the time, Semenya said the rules were discriminatory, and contraceptive pills made her feel "constantly sick". Semenya won gold in the women's 800 metres at the 2016 Olympics and is also a three-time world champion in the distance.
Persons: Semenya, Hritika Sharma, Nick Said, Ed Osmond, Peter Graff Organizations: South, European, of Human Rights, Swiss Federal, ECHR, World Athletics, Chamber, Swiss Government, Sport, Thomson Locations: Switzerland, Swiss, relaunching, Hyderabad, Cape Town
CNN —Caster Semenya, the South African Olympic champion runner, has won her appeal which she had submitted to the European Court of Human Rights (ECHR) to end “discriminatory” testosterone limits imposed on female athletes, the ECHR said on Tuesday. Semenya is hyperandrogenous – meaning she has naturally high levels of testosterone – and has been fighting against rules introduced in 2019 by World Athletics – track and field’s governing body – which regulates levels of the hormone in female athletes. A three-time 800m world champion, Semenya lost an appeal to the Court of Arbitration for Sport in April 2019. “The case was filed against the state of Switzerland, rather than World Athletics. It is difficult to estimate how many people have DSD traits – many live their entire lives without ever knowing they have one.
Persons: Semenya, ” Semenya, , Organizations: CNN, South, European, of Human Rights, Sport, Federal, Switzerland’s, Swiss Federal, Swiss Government, Chamber, World Athletics Council Locations: Tokyo, Switzerland
Logitech — Shares tumbled 12.3% after the company announced president and CEO Bracken Darrell is departing. Toyota — The Japan-based automaker's shares gained 4.5% Wednesday. Lumen Technologies — The telecommunications stock gained 6% during midday trading Wednesday, adding to the 16% advance that was made Tuesday. Earlier in the week, the company announced a new partnership with electric vehicle software charging company ev.energy. Advanced Micro Devices — The chip stock gained nearly 2% in midday trading, a day after the company announced its latest artificial intelligence chips.
Persons: Bracken Darrell, UnitedHealth — UnitedHealth, John Franklin Rex, Akio Toyoda, Lumen, Roth MKM, Goldman Sachs, Bernstein, Bud, Raymond James, Buster's, Cinemark, Riley, Li Auto, Morgan Stanley, Wolfe, it's bullish, Gordon Haskett, SVB, — SoFi, Estée Lauder —, — CNBC's Michelle Fox, Yun Li, Sarah Min, Hakyung Kim Organizations: Logitech, Swiss Federal Institute of Technology of, Citi, Goldman, Global Healthcare, Toyota, Lumen Technologies, Google, Microsoft, Maxeon, Technologies, Reuters, Services, AMD, Anheuser, Busch InBev —, Netflix, Wolfe Research, Barclays, SVB Securities, Berenberg Locations: Swiss Federal Institute of Technology of Lausanne, Lausanne, Switzerland, Japan, Latin America
THE SWISS BANKPossibly the first hurdle is a politically fraught decision on Credit Suisse's "crown jewel", its domestic business. But UBS will have to weigh that against public pressure to keep the Credit Suisse business separate with its own brand, identity and, critically, workforce. However, insiders talk of rivals aggressively wooing Credit Suisse clients and employees. Clients who would typically bank both with UBS and Credit Suisse to spread their risk, might now take some of that business elsewhere. One potential risk stems from legal challenges to the decision by Swiss authorities to write off special AT1 bonds issued by Credit Suisse.
Persons: Sergio Ermotti, Ermotti, Colm Kelleher, Alan Mudie, Arturo Bris, Kelleher, Lars Schweizer, John Revill, Oliver Hirt, Noele Illien, Tomasz Janowski, Elisa Martinuzzi, Alexander Smith Organizations: Credit Suisse, UBS, Suisse, Woodman Asset Management, Finance, International Institute for Management Development, Reuters Graphics, Credit, Frankfurt University, Barclays, Thomson Locations: ZURICH, Switzerland, Swiss, Lausanne
Shareholders of Credit Suisse and UBS were not granted a vote on the deal that was sealed over one weekend in March. Officials for QIA, UBS, the Swiss finance ministry and Credit Suisse declined to comment. QIA's investment in Credit Suisse dates back to the global financial crisis of 2008. The sovereign wealth fund had increased its stake in Credit Suisse to just under 7%, only trailing largest shareholder Saudi National Bank's roughly 10% stake, according to a January filing. Among them, Middle Eastern backers which own more than 20% of Credit Suisse face the largest hit.
Total: 25