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☆ Swiss National Bank Chairman hints at rate rises to tackle inflation
▼ + stars: | 2023-06-10 | by ( ) www.reuters.com time to read: +1 min

"Most central banks have an inflation target of about 2%, the SNB is slightly more conservative," Jordan said. "Of course if inflation is higher than the target, monetary policy must be restrictive," Jordan told the newspaper. Earlier this week Jordan in a separate public appearance, said he could not rule out tightening monetary policy to tackle stubborn Swiss inflation. In the newspaper interview Jordan said price stability created the best environment for economic growth, and was important for social stability and fairness. "When inflation is above 2%, people with lower incomes especially suffer," Jordan told the newspaper.

Persons: Thomas Jordan, Jordan, John Revill, Tomasz Janowski Organizations: Swiss National Bank, Corriere del, Thomson Locations: ZURICH, Corriere del Ticino, Switzerland

☆ 4 people died after a boat sank on a picturesque lake. All of the passengers had connections to Israeli and Italian intelligence.
▼ + stars: | 2023-06-04 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +4 min

Four people died in a boating accident on Italy's Lake Maggiore last month in a violent storm. All 21 passengers were linked to Israeli and Italian defense and intelligence work. All 21 passengers on the 52-foot houseboat were currently or formerly tied to Israeli and Italian defense and intelligence work, officials said, per CNN. Two of those who died had worked for the Italian intelligence authority. Lake Maggiore Mbdortmund/Wikimedia CmmonsSeveral companies that produce both military and civilian technology use are located in Lombardy, the BCC reported.

Persons: —, Benjamin Netanyahu, it's Organizations: Authorities, Service, CNN, Reuters, Wikimedia, BCC, BBC, Guardian, BBC News, New York Times Locations: Maggiore, Russian, Israel, Swiss, Italy's Lombardy, Ticino, Lake, Mbdortmund, Lombardy, Switzerland, Milan

Ermotti may need to persuade Switzerland's authorities that UBS should keep "the piece de resistance," Credit Suisse's domestic bank, said Porta's Wittmann. During the financial crash of 2008 it was UBS, not Credit Suisse, that took the lion's share of support from the state. One of Ermotti's biggest challenges may be to prevent Credit Suisse's problems contaminating UBS, which will involve hacking back its investment bank and its unwieldy derivatives. Disentangling Credit Suisse's finances, however, is only a part of the problem. "There are clearly parts of Credit Suisse that have had a bad culture.

☆ Factbox: Five facts about returning UBS CEO Sergio Ermotti
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 29 (Reuters) - Sergio Ermotti has been rehired as the CEO of Swiss banking giant UBS (UBSG.S) to steer its massive takeover of rival Credit Suisse (CSGN.S). * He joined UBS in 2011 after being passed over for the top job at Italian lender UniCredit. Within six months of joining he was appointed interim CEO in the wake of a $2.3 billion trading scandal, before he was picked to run UBS on a permanent basis until 2020. * Ermotti, with long experience in investment banking and wealth management, is credited with executing UBS's turnaround and scaling down its investment banking operations after a series of scandals and losses nearly caused the bank's implosion. Reporting by Tommy Reggiori Wilkes; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Boomerang UBS boss ticks several important boxes
▼ + stars: | 2023-03-29 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

That’s the best explanation for why Chair Colm Kelleher on Wednesday said the Swiss bank was replacing CEO Ralph Hamers with erstwhile boss Sergio Ermotti. Though the move violates several corporate-governance red lines, it improves the group’s chances of successfully absorbing stricken rival Credit Suisse (CSGN.S). Nor was his hesitant delivery in a call with analysts after announcing the Credit Suisse deal. During his previous spell in charge, UBS held talks with Deutsche Bank (DBKGn.DE) and discussed a merger with Credit Suisse. Ermotti, a Swiss national, led the Swiss bank for nine years, departing in late 2020, and is currently chair of Swiss Re.

☆ Lastminute.com execs have detention extended as probe continues
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Oct 24 (Reuters) - The chief executive and chief operating officer of Lastminute.com , subjects of a criminal investigation into the possible abuse of state aid for firms hit by pandemic lockdowns, have had their period in investigative custody extended up to Nov. 29, the online travel company said on Monday. Both Chief Executive Fabio Cannavale and Chief Operating Officer Andrea Bertoli were suspended from the company for three months on July 25, after the probe was launched by prosecutors in the southern Swiss canton of Ticino. The probe is also trying to identify whether there have been any irregularities concerning short-time work allowances to certain Swiss subsidiaries related to the COVID-19 pandemic. Register now for FREE unlimited access to Reuters.com Register"This investigation involves current and former employees of such subsidiaries as well as some current and former members of various boards of directors," Lastminute.com said in a statement. Register now for FREE unlimited access to Reuters.com RegisterReporting by John Revill; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Fostul preşedinte elveţian Flavio Cotti, răpus de COVID-19
▼ + stars: | 2020-12-17 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Fostul preşedinte elveţian Flavio Cotti, care a ocupat, de asemenea, funcţiile de ministru de externe şi de interne, a murit miercuri la vârsta de 81 de ani din cauza COVID-19, notează AFP, citat de agerpres.ro. "Cu mare tristeţe am aflat despre decesul lui Flavio Cotti", a scris pe Twitter actualul şef al diplomaţiei de la Berna, Ignazio Cassis. Potrivit cotidianului de limbă italiană al cantonului Ticino, care a obţinut primul informaţia, Flavio Cotti a decedat miercuri după-amiază într-un spital din Locarno "după complicaţii cauzate de coronavirus". Flavio Cotti, jurist de formaţie, a fost membru al Partidului Creştin-Democrat din Ticino, înainte de promova în politică şi a petrece 12 ani în guvernul federal de la Berna, între 1987 şi 1999. El a fost preşedinte al Confederaţiei Elveţiene de două ori, în 1991 şi 1998.

Persons: Flavio, Flavio Cotti Organizations: Partidului, Democrat, ONU Locations: Berna, Ignazio, Ticino, Locarno, Democrat din Ticino, Elveţia, Geneva

☆ 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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