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☆ Apheros helps data centers cool down. Check out the pitch deck it used to secure $1.85 million.
▼ + stars: | 2024-08-19 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +1 min

Apheros has secured $1.85 million in pre-seed funding for its data center cooling technology. Check out the pitch deck it used to secure the fresh funding. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA startup that helps data centers to cool down has just secured $1.85 million in pre-seed funding.

Persons: Apheros, — Organizations: Service, ETH Zurich, Business Locations: Zurich

☆ A Pattern of Lavish Spending at a Leading L.G.B.T.Q. Nonprofit
▼ + stars: | 2024-08-01 | by ( Emily Steel | ) www.nytimes.com time to read: +1 min

A light rain fell at the Zurich airport one Sunday morning in January 2023 as Sarah Kate Ellis made her way from a seat in Delta’s most exclusive cabin to a waiting Mercedes. It was there to chauffeur her to the Swiss Alps, where she and her colleagues would stay at the Tivoli Lodge, a seven-bedroom chalet that cost nearly half a million dollars to rent for the week. Ms. Ellis, who was en route to the World Economic Forum in Davos, doesn’t run a Wall Street bank or a high-flying tech start-up. She is the chief executive of the nonprofit organization GLAAD, one of the country’s leading L.G.B.T.Q. The trip was part of a pattern of lavish spending at GLAAD, much of it by Ms. Ellis, that may have violated the organization’s own policies as well as Internal Revenue Service rules.

Persons: Sarah Kate Ellis, Mercedes, Ellis, doesn’t Organizations: Economic, GLAAD, The New York Times, Revenue Service Locations: Zurich, Delta’s, Swiss, Davos

☆ I loved my first visit to Switzerland — but my trip would've been better if I hadn't made these 5 mistakes
▼ + stars: | 2024-07-04 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

I think I would've been better off in a cheap hotel room, which likely would've had a better bed and no kitchen area, which I didn't need. Using Google Maps to locate bus stopsThis sneaky bus stop was in an underground pass beneath a building. I would walk to the exact spot where Google Maps said the bus stop was and see no signs or benches. I'd wander around looking for the bus stop while watching several buses drive past me without stopping. AdvertisementEach time, I had to ask a local or two where the bus stop was.

Persons: —, Moritz, Morgan McFall, Johnsen, I'd, would've, Airbnb Organizations: Service, Business, Google, SBB Locations: Switzerland, Zurich, Swiss, Europe, Sion, France, St, Johnsen Switzerland

☆ 92-year-old just became one of America's richest self-made women—she's worth $700 million
▼ + stars: | 2024-06-08 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Payden's assets have grown with the firm: As majority owner, she boasts an estimated net worth of roughly $700 million and is a "newcomer" on Forbes' recently published 2024 list of America's Richest Self-Made Women. "I was hired at a 25% discount because I didn't know the difference between a bond and stock," Payden told the Los Angeles Times in 1999. Within a couple years, she moved to Los Angeles to join Scudder, Stevens & Clark, a prestigious money management firm. She failed at least one of those attempts because she "didn't play golf" at an annual meeting on a men-only course, Payden told students at Notre Dame in 2011. Since then, she's built her firm into one of the largest private money management firms in the U.S.

Persons: Joan Payden, she's, Forbes, Payden, Merrill Lynch, Scudder, Stevens, Clark, wouldn't, Sandra Rygel, Payden wasn't Organizations: Payden, Forbes, Trinity College in, Trinity College in Washington , D.C, Los Angeles Times, Notre Dame, Trinity's, U.S, Zurich Insurance Group, CNBC Locations: Los Angeles, Trinity College in Washington ,, New Jersey, Swiss

☆ Davis Riley: A week after his sister had surgery to remove a brain tumor, US golfer wins first individual PGA Tour event
▼ + stars: | 2024-05-27 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —Davis Riley paid tributes to his sister, who is recovering from brain surgery to remove a tumor, and his former colleague Grayson Murray after winning the Charles Schwab Challenge on Sunday. 1 Scottie Scheffler and Keegan Bradley to win his first individual PGA Tour event by a five-shot margin. After undergoing scans, it was found that she had a brain tumor and underwent surgery upon recommendation from doctors. Although she couldn’t be in Texas to see Riley win his first individual PGA Tour event, Riley did her proud by putting in assured performance to earn himself a tartan jacket and the trophy. Riley plays a shot from a bunker on the 18th hole during the final round of the Charles Schwab Challenge.

Persons: CNN — Davis Riley, Grayson Murray, Charles Schwab, Riley, Scottie Scheffler, Keegan Bradley, he’d, Caroline, ” Riley, “ I’m, ”, Tim Heitman, Murray, Nick Hardy, Hardy, Riley’s, Alexandra, “ Davis, ” Hardy, “ Organizations: CNN, Colonial Country Club, PGA, PGA Tour, Zurich, New Locations: Texas, New Orleans

☆ CNBC Daily Open: Wall Street hits record, 'Thee rate cuts'
▼ + stars: | 2024-05-16 | by ( Abid Ali | ) www.cnbc.com time to read: +2 min

The Charging Bull is seen on an empty Wall Street on April 20, 2020 in New York City. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street hits record highThe S&P 500 and the Nasdaq rose to record highs after inflation data came in lower than expected. All three major indexes closed at record highs. Asia up, Japan's GDP shrinksAsia-Pacific markets rose on Thursday after Wall Street hit record highs.

Persons: Buffett, Chubb, Warren, Berkshire Hathaway, Seng, Biden, Morgan Stanley Organizations: CNBC, Nasdaq, Dow Jones Industrial, Federal, Tech, Nvidia, Apple, Microsoft, GameStop, AMC, Berkshire, Wall, Nikkei, U.S Locations: New York City, Zurich, Asia, Pacific, China

☆ Rory McIlroy says he won’t return to PGA Tour policy board after ‘pretty messy’ conversations
▼ + stars: | 2024-05-09 | by ( Jack Bantock | ) edition.cnn.com time to read: +3 min

CNN —Rory McIlroy will not be returning to the PGA Tour policy board any time soon after some “pretty complicated and pretty messy” conversations, the Northern Irishman said Wednesday. “There’s been a lot of conversations,” McIlroy, speaking ahead of the Wells Fargo Championship in North Carolina, told reporters. “It got pretty complicated and pretty messy, and I think with the way it happened, it opened up some old wounds and scar tissue from things that have happened before. “There was a subset of people on the board that were maybe uncomfortable with me coming back on for some reason. “I’ve had a pretty slow start to the season, especially over here in the States,” he said.

Persons: Rory McIlroy, ”, Webb Simpson, –, McIlroy, “ There’s, ” McIlroy, Webb, Andrew Redington, LIV Golf, LIV, weren’t, it’s, we’ve, “ It’s, that’s, Shane Lowry, “ I’ve, “ Organizations: CNN, PGA Tour, Wells, PGA, LIV Golf, “, Zurich, New Locations: North Carolina, Saudi, New Orleans

☆ 4 lessons for success from Berkshire shareholders' best Buffett and Munger stories
▼ + stars: | 2024-05-04 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

Around these parts, the honchos at Berkshire do have one key thing in common with Murray: everyone who's met them seems to have a story. Just about everyone who had encountered one of the Berkshire luminaries shared some of the wisdom they imparted. Indeed, it's advice that Buffett echoed at the shareholder meeting on Saturday. In response to a question about advice everyone needs to hear, Buffett urged shareholders to think about the way they'd like their obituaries to read and to pursue life accordingly. An encounter with his friend, Berkshire board member Chris Davis, reminded him of a key piece of advice from Munger: surround yourself with images of your idols.

Persons: Bill Murray, Murray, Warren Buffett, Charlie Munger, who's, Guy Spier, Doerthe Obert, —, It's, Buffett, William Greene, Michael O'Brien, Chris Davis, Charlie, Munger, Benjamin Franklin, Greene, Gillian Segal, Segal Organizations: Berkshire Hathaway, Drew Investment Research, Buffett Locations: Washington ,, Omaha, Nebraska, Berkshire, Zurich, Munger

☆ Scottie Scheffler weathers storm to claim fourth win in five starts. Is he the most dominant golfer since Tiger Woods in his prime?
▼ + stars: | 2024-04-22 | by ( Jack Bantock | ) edition.cnn.com time to read: +5 min

1 mastered the elements once more at a stormy RBC Heritage to reel in his fourth win in his last five starts. “I didn’t show up here just to have some sort of ceremony and have people tell me congratulations,” Scheffler told reporters Monday. Only two players had ever previously won or finished runner-up in five consecutive PGA Tour starts; Vijay Singh in 2004, and Woods on three separate occasions between 1999 and 2008. 1 prepares to chase a historic sixth this week, Scheffler is throwing in the towel – but not before one last jab. The Tour moves on to Los Angeles on Thursday for the Zurich Classic of New Orleans at TPC Louisiana.

Persons: Scottie Scheffler, Scheffler, Sahith Theegala, Woods, Bernhard Langer, ” Scheffler, “, Jared C, Tilton, ’, Meredith, Scott, Diane, I’m, ”, it’s, ’ I’ll, “ They’re, they’ll, Andrew Redington, Scheffler hasn’t, Germany’s Stephan Jaeger, Rory McIlroy, Vijay Singh, Aaron Doster, Nelly Korda, Nelly, she’s, Byron Nelson Organizations: CNN, RBC, Harbor, Augusta National, Getty, Texas Children’s Houston, USA, Sports, Chevron, PGA, Zurich, TPC Louisiana Locations: South Carolina, Harbor Town, Los Angeles, New Orleans

☆ Neeraj Chopra has gained unlikely stardom in India. If he wins another Olympic gold, he will be ‘treated like God’
▼ + stars: | 2024-03-11 | by ( George Ramsay | ) edition.cnn.com time to read: +7 min

CNN —In a line-up of India’s sporting heroes, most of whom have gained celebrity status through cricket, Neeraj Chopra is an anomaly. Matthias Hangst/Getty ImagesPrior to Chopra, India had practically no history in track and field, winning most of its Olympic medals in field hockey and wrestling. But still, Neeraj Chopra is the best sportsperson. “My main focus is to stay healthy,” says Chopra, “but I’m not taking the pressure of winning a gold medal again. He is a moving billboard, one can say now.”And if he wins a second gold medal at the Olympics?

Persons: Neeraj Chopra, ” Chopra, – Chopra, ”, Chopra, It’s, Matthias Hangst, Norris Pritam, He’s, Fabrice Coffrini, “, Pritam, Kirill Kudryavtsev, he’s, I’m, I’ll, ’, –, Michael Steele, ’ ” Organizations: CNN, CNN Sport, Ormax Media, Diamond League, Tokyo, “, ”, volleyball, Zurich Diamond League, Getty, Commonwealth Games, Paris Olympics, India Locations: India, Tokyo, Budapest, Khandra, Haryana, Panipat, AFP, Panchkula, Hungary

LOS ANGELES (AP) — Patrick Cantlay and Xander Schauffele first competed at cards on the long flight to Australia for the Presidents Cup. Cantlay was solid as ever Saturday in the Genesis Invitational until a soft bogey toward the end of the round that effectively cut his lead in half. The final group is Cantlay and Schauffele, a pair of Californians who are now neighbors in Florida. Cantlay is trying to join Max Homa (2021) and John Merrick (2013) as players from the greater Los Angeles area trying to win what amounts to a hometown event. “Being from southern California, it's one of the tournaments on the list that I'd like to win the most,” Cantlay said.

Persons: — Patrick Cantlay, Xander Schauffele, Schauffele, Will Zalatoris, Cantlay, Tiger Woods, Jordan Spieth, Zalatoris, ”, ” Cantlay, Woods, “, ” Schauffele, we’re, Didn’t, Luke List, Harris, Jason Day, Max Homa, John Merrick, ___ Organizations: ANGELES, Riviera, Tiger, “, BMW, Wilmington Country Club, Travelers, PGA, Ryder, Cup, UCLA, Virginia Country Club, Sherwood Locations: Australia, Florida, Zurich, New Orleans, Riviera, Los Angeles, Thousand Oaks, California

☆ Insurance giant Swiss Re posts 580% jump in full-year profit, warns consumers about climate costs
▼ + stars: | 2024-02-16 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Swiss Re CEO Christian Mumenthaler gestures during a session of the World Economic Forum (WEF) annual meeting in Davos on January 18, 2024. Insurance giant Swiss Re on Friday reported a sharp upswing in full-year profit, benefitting from what it described as an attractive market environment after a "batch of bad years." The Zurich-headquartered company posted full-year net profit of $3.2 billion, in line with expectations according to an LSEG-compiled consensus. Reinsurance refers to insurance for insurance companies. Looking ahead, Mumenthaler warned that the price of the climate crisis would soon be at the door of consumers for the first time.

Persons: Christian, Christian Mumenthaler, CNBC's, Mumenthaler Organizations: Swiss, Economic, Insurance, Swiss Re Locations: Davos, Zurich, Hurricane, Florida

☆ Asset manager names one under-the-radar market to buy when times are bad, giving 6 stock picks
▼ + stars: | 2024-02-08 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

"People recommend investing in the Swiss market during uncertain periods – like if you are expecting a recession. "Maybe in a bull market, Swiss equities are not going to be a huge outperformer globally — but they can generate positive returns. But in difficult times, Swiss equities, besides the U.S., is one of the markets to buy," Bänziger said. In her view, Swiss stocks benefit from the strong Swiss franc and a political system that fosters innovation in companies. Meanwhile, Bänziger believes Swiss Prime Site and PSP Swiss Property make good investments among small- and mid-caps, given the opportunities in the Swiss real estate sector.

Persons: Carla Bänziger, Bänziger, Stocks Organizations: U.S . Federal, that's, CNBC Pro, Swiss, State Secretariat, Economic Affairs, Swiss Re, SIX Swiss Exchange, Dow Jones International Real, ABB, Nestle, Roche, Novartis Locations: that's Switzerland, Swiss, Zurich, U.S, Switzerland, Germany, China, Europe

GENEVA (AP) — UBS on Tuesday reported a fourth-quarter pretax loss of more than $750 million as the Swiss banking giant continued to integrate its longtime rival Credit Suisse after a government-orchestrated merger. UBS said it expects to complete the merger of Credit Suisse by the end of the second quarter this year, and the merger of the two banks’ Swiss operations by the end of the third quarter. For the year, UBS took in $77 billion in new assets across its wealth-management and personal and corporate banking segments. Woes at Credit Suisse — before the UBS merger — and the two U.S. banks unsettled global financial markets in 2023. UBS said revenues jumped 35% to nearly $10.9 billion in the fourth quarter.

Persons: —, Sergio Ermotti Organizations: GENEVA, — UBS, Credit Suisse, SIX Group, UBS, U.S . Federal Deposit Insurance Corp, Valley Bank, Signature Bank, Credit Suisse —, — Locations: Swiss, Zurich, United States

☆ Wyndham Clark wins Pebble Beach Pro-Am after just 54 holes as heavy storms cut tournament short
▼ + stars: | 2024-02-05 | by ( Jack Bantock | ) edition.cnn.com time to read: +3 min

CNN —American golfer Wyndham Clark was declared the winner of the AT&T Pebble Beach Pro-Am after just 54 holes on Sunday, as heavy storms over the Monterey Peninsula led organizers to end the tournament early. Yet despite improved forecasts for Monday morning, the result was declared with 18 holes still to play “in accordance with PGA Tour regulations,” according to a statement from the PGA Tour Rules Committee on Sunday night. Fallen portable toilets at Pebble Beach on Sunday. Ryan Sun/APHaving gone six years without a PGA Tour triumph since turning pro, victory marks Clark’s third on the circuit in the space of nine months. Ezra Shaw/Getty ImagesThe tournament is the first on the PGA Tour to be reduced to 54 holes since 2016, when the Zurich Classic of New Orleans was shortened due to similarly inclement weather.

Persons: Wyndham Clark, Clark, Sweden’s Ludvig Åberg, “, Ryan Sun, ” Clark, It’s, Ezra Shaw Organizations: CNN, Reigning, AP, Getty, PGA, Zurich Locations: Monterey, Monterey County, Beach, Orleans, California, Los Angeles

PEBBLE BEACH, Calif. (AP) — The final round of the AT&T Pebble Beach Pro-Am was delayed by at least two hours Sunday as officials braced for more rain on a soggy course and high wind that could cut short the PGA Tour's first “signature event” to 54 holes. Clark would be declared the winner if the final round cannot be completed. Photos You Should See View All 45 ImagesThe final round was to start at 7:45 a.m. PST Sunday. All tournament facilities at Pebble Beach remained closed. Pebble Beach, with a reputation for bad weather, hasn't had a 54-hole winner since Dustin Johnson in 2009.

Persons: Wyndham Clark, Ludvig Aberg, Clark, Gary Young, Rory McIlroy, hasn't, Dustin Johnson, ___ Organizations: PGA, National Weather Service, Zurich Locations: Calif, Pebble, New Orleans

☆ Top wealth manager Julius Baer caught in property write-off storm as CEO steps down
▼ + stars: | 2024-02-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A pedestrian sheltering under an umbrella passes a Julius Baer Group Ltd. branch in Zurich, Switzerland, on Tuesday, July 13, 2021. Group Chair Romeo Lacher said he and the board "deeply regret" net credit losses of 606 million Swiss francs ($701 million), well above consensus expectations, which include a loan loss allowance of 586 million francs. Julius Baer in November announced its exposure to the struggling Austrian company, which has been hit by the higher interest rate environment. It further said Thursday it would exit its private debt businesses, winding down its remaining private debt book of 800 million million Swiss francs, 2% of its total loan book. The bank reported net profit attributable to shareholders of 454 million Swiss francs for the full-year 2023, down 52%, with earnings per share of 2.21 francs.

Persons: Julius Baer, Philipp Rickenbacher, Romeo Lacher, Rickenbacher, Nic Dreckmann, Anke Reingen Organizations: Julius Baer Group, Signa, Austrian, CNBC, Swiss, RBC Locations: Zurich, Switzerland, Swiss

☆ This Swiss auto parts maker's stock could soar by 75%, Vontobel says
▼ + stars: | 2024-01-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Switzerland-listed car parts manufacturer Autoneum's share price could increase by over 70% in the next year, according to Vontobel. The investment bank raised its price target on Autoneum to 215 Swiss francs ($248), representing a potential 74% upside from the current share price of 123.80 francs. However, Autoneum's organic sales grew only 7.2%, lagging the broader recovery, according to the car parts maker's full-year revenue results, released Monday. CHF= 1Y line When excluding negative currency effects that lowered sales by 7.2%, Autoneum's 2023 revenue was 2.43 billion Swiss francs, meeting the company's own guidance. In contrast to Vontobel's bullish outlook, Swiss bank UBS has a neutral view of the stock, with a price target of 110 CHF — 10% below the current share price.

Persons: Vontobel, Arben Hasanaj Organizations: BMW, Ford, Renault, Mercedes, GM, Volvo, UBS, — Locations: Switzerland, Zurich, Asia, Swiss

☆ I visited Starbucks in Switzerland, where the coffee chain has some of the highest prices in the world. It was so basic.
▼ + stars: | 2024-01-07 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

That said, this café apparently sold the highest-priced Starbucks menu item globally in 2022. You might ask yourself: What luxurious, decadent, brightly colored, hyper-flavorful, blended monstrosity could be the most expensive Starbucks menu item in the world? AdvertisementBehold, the most expensive Starbucks menu drink worldwide as of 2022! The study found the world's second-most expensive Starbucks menu item was Denmark's chocolate-cream Frappuccino, which sounds unique and interesting. I also splurged on cold brew and found it to be inconsistentI tasted the cold brew black, then added oat milk the way I like it.

Persons: —, Morgan McFall, Johnsen, CashNetUSA, It's Organizations: Service, Business, Zurich Starbucks Locations: Switzerland, Europe, Zurich

☆ Fall in euro zone business activity adds to recession expectations
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

A waiter picks up the terrace of the Zurich bar at Placa de Catalunya in Barcelona, Spain April 4, 2023. A PMI for the services sector rose to 48.7 from October's 47.8. "The sombre outlook is reinforced by the fifth consecutive monthly shrinkage in new business. An index measuring new business - a gauge of demand - was below 50 for a fifth month although it did rise to 46.7 from 45.6. The composite future output index rose to 56.0 from 55.6.

Persons: Nacho, Cyrus de la Rubia, Jonathan Cable, Susan Fenton Organizations: Placa de, REUTERS, P Global, PMI, Hamburg Commercial Bank, Thomson Locations: Zurich, Barcelona, Spain, October's, Hamburg

☆ Engineering Group ABB unveils higher sales and profitability targets
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

The logo of ABB is seen at an office building in Zurich, Switzerland September 10, 2020. The goals, announced ahead of ABB's investor day in Italy, were an upgrade from the previous annual revenue growth target of 4% to 7%. Most of the sales will come from internal growth, ABB said, with an expected five to seven percentage points of extra revenue, while an additional one to two percentage points is expected from acquisitions. ABB, which supplies industry and transportation networks with robots, electrification equipment and motors, also raised its core profitability target to a range of 16% to 19%. The International Monetary Fund recently downgraded its forecast for global growth for next year, with advanced economies expected to significantly slow as interest rates rise.

Persons: Arnd, France's Schneider, Bjorn Rosengren, John Revill, Tom Hogue, Jacqueline Wong Organizations: ABB, REUTERS, Rights, Germany's Siemens, Monetary Fund, Thomson Locations: Zurich, Switzerland, Swiss, Italy, Frosinone

☆ How an Indian startup hacked the world
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +41 min

The Indian company hacked on an industrial scale, stealing data from political leaders, international executives, prominent attorneys and more. Run by a pair of brothers, Rajat and Anuj Khare, the company began as a small Indian educational startup. The Indian company hacked on an industrial scale, stealing data from political leaders, international executives, sports figures and more. Back in 2012, Kristi Rogers was an executive at Aegis, a London-based security company. Canadian security company GardaWorld, which acquired Aegis in 2015, said it had no information on the incident.

Persons: Chuck Randall, Randall, “, ” Randall, ”, Randall’s inbox, Appin, Rajat, Anuj Khare, Rajat Khare’s, Clare Locke, Khare “, Khare, ” Clare Locke, Ted Kaczynski, Anuj, who’ve, SentinelOne, Tom Hegel, Appin “, Hegel, Mandiant, ” Hegel, Shane Huntley, ” Huntley, Google’s Huntley, ‘, Jochi Gómez, Gómez, Halevi, Tamir Mor, Russian oligarch Boris Berezovsky, Mohamed Azmin Ali, ” Mor, Berezovsky, Azmin, Mor, Roman Abramovich, Mark Hastings, Hastings, didn’t, Jim H, ” Jim H, Jim H’s, Kristi Rogers, Mike Rogers, he’s, Global’s, sully, Rogers, Damian Perl, – “, Steven Santarpia, ” Santarpia, Santarpia, Leonel Fernández, ” Fernández, Rajat Khare, “ Let’s, Ministry of Home Affairs didn’t, Peter Hargitay, Stevie, Billing, ” Stevie, ’, ” Peter Hargitay, Mookhey, Norman Shark, Jonathan Camp, Shark, Camp, Norman, Dominican Republic –, Dan Brady, Sandra Schweingruber, ” Schweingruber, Schweingruber, Brady, ” Gómez, –, ” –, Anna Carter, Mark Califano, ” Rajat Khare’s, India’s, Educomp, Karen Hunter, Hunter, Bryan, Rajat’s, Vijay Kumar, Deepak Kumar, Kumar, ACSG, Jay Solomon, Solomon, ” Rebsec’s, Vishavdeep Singh, Rebsec, CyberRoot, Sumit Gupta, Gupta, Raphael Satter, Zeba Siddiqui, Christopher Bing, Ryan McNeill, Corinne Perkins, John Emerson, Marla Dickerson Organizations: Reuters, Google, Harvard University, U.S, Symantec, Appin, Caribbean, El, Israeli Defense Forces, Commando, Quillon Law, U.S . House Intelligence, The Michigan Republican, U.S . Senate, Aegis, Global Security, Security, Rogers, Army Corps of Engineers, Rotary, Aegis ’, Global, ” Reuters, Britain’s, Appin Software Security, Ltd, Appin Security, –, Research, Analysis, Intelligence Bureau, Indian, India’s Ministry of Home Affairs, India’s Ministry of Defense, of Home Affairs, Central Bureau of Investigation, CBI, Federal Bureau of Investigation, Ministry of Home Affairs, Telenor, Broadcom, FBI, Dominican, Criminal Investigation Service, Appin Security Group, CERT, country’s, Bureau of Investigation, Educomp, State Bank of India, State Bank, The National Security Agency, NSA, U.S ., Swiss, Appin Technology, India’s Ministry, Corporate Affairs, Control Security Global, Technology, Kumar, Facebook, Meta, BellTroX, Services, Street, New, Rebsec, BellTroX’s, Hire Locations: Long, New Delhi, India, Yorker, Paris, Swiss, cybersecurity, Appin, Dominican, California, “, Dominican Republic, El Siglo, United States, Britain, Switzerland, New York, French, New Jersey, Israel, Russian, Malaysian, London, Rwandan, Virginia, Canadian, Chuck@shinnecock.org, Texas, Indian, India’s Punjab, Pakistan, Zurich, Australia, Norway, Oslo, Brady, Former, ”, U.S, Islip, Shinnecock, Washington, cyberespionage

GENEVA (AP) — UBS reported Tuesday a $255 million pre-tax loss as the giant Swiss bank shed some 4,000 jobs globally, cut costs faster than expected, and reaped billions in asset inflows in the third quarter while moving forward with its government-orchestrated merger with rival Credit Suisse. The Zurich-based bank said underlying profit before taxes came in at $884 million in the first full quarter since the merger was completed in June. Government authorities in Bern shepherded through the deal with bank chiefs to stave off a collapse of Credit Suisse and avert a financial crisis. UBS tallied $33 billion in net new deposits in its wealth management and personal and corporate banking segments, two-thirds of that from Credit Suisse clients. Political Cartoons View All 1234 Images“We are executing on the integration of Credit Suisse at pace and have delivered underlying profitability for the group in the first full quarter since the acquisition," UBS chief executive Sergio Ermotti said in a statement.

Persons: —, Sergio Ermotti, Benjamin Goy, Sharath Kumar, ” Organizations: GENEVA, — UBS, Credit Suisse, The, UBS, Six Swiss, Deutsche Bank, ” UBS Locations: Swiss, The Zurich, Bern shepherded, Zurich

☆ Apartment prices in Zurich are skyrocketing, with property being seen as 'concrete gold'
▼ + stars: | 2023-09-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Apartments in Zurich cost around $19,000 per square meter, according to data from Properstar. Transaction prices for apartments in the Zurich region rose 42.3% between 2013 and 2022. UBS said Wednesday that there was a perception of property in the city as "concrete gold." Renting an apartment in the city, meanwhile, cost around 47 Swiss franc ($58) per square meter, according to the Properstar data. UBS said in its Global Real Estate Bubble Index 2023, released Wednesday, that an increasing number of high-income earners and ultra-low interest rates in recent years had helped push up property prices.

Organizations: UBS, Service, Bloomberg, Henley & Partners, Wüest, Swiss National Bank ., Swiss, Google Locations: Zurich, Properstar, Wall, Silicon, Swiss, London, Lake Zurich, Switzerland

☆ Winners and losers likely as Switzerland absorbs Credit Suisse layoffs
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +5 min

Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland March 20, 2023. In Switzerland, up to 10,000 jobs could be affected with Zurich bearing the brunt if UBS goes ahead with its indicated preferred option of absorbing Credit Suisse and cutting overlapping jobs and operations. "The large banks have many highly paid very specialized roles, where frankly there is very little demand in the market outside UBS and Credit Suisse," he said. Job cuts at Credit Suisse will hit Swiss and foreign nationals on its payroll, which may mean some have to leave Switzerland if they can't find a new job. Swiss banks have been looking in particular to snap up relationship managers with strong client relationships and solid books.

Persons: Denis Balibouse, headhunter Fredy Hausammann, Hausammann, Adecco, Balz Stueckelberger, Sergio Ermotti, Lombard Odier, Marco Arnold, Giorgio Pradelli, Pradelli, EFG, Noele Illien, Susan Fenton Organizations: UBS, Credit Suisse, REUTERS, Reuters, State Secretariat, Economic Affairs, Arbeitgeber Banker, Swiss, EFG's, Thomson Locations: Zurich, Switzerland, Swiss, Europe, Zug

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