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☆ A Swiss city cut red tape and ended up with many more homes. It's a model for the US.
▼ + stars: | 2024-09-07 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

Read previewAs part of her housing policy agenda, Democratic presidential nominee Kamala Harris has promised to "cut red tape and needless bureaucracy" to build millions of additional homes and bring down costs. Zurich, Switzerland offers the latest model. AdvertisementApartment buildings behind farm houses in Affoltern, just outside Zurich, Switzerland. One of the study's key findings is, "if you upzone, upzone a lot," said Simon Büchler, coauthor of the study and an assistant professor of finance at Miami University. A whopping 64% of Swiss residents live in apartments, compared to just 28% of US residents, and the country also has an especially comprehensive and well-connected public transportation network.

Persons: —, Kamala Harris, Michael Buholzer, Simon Büchler, upzoning, Büchler, Christian Hartmann, Matthew Maltman, who's, There's, Maltman Organizations: Service, Democratic, Business, Miami University, Reuters Locations: Zurich, Switzerland, Swiss, Canton of Zurich, Affoltern, New Zealand, Küsnacht, Lake Zurich, Canada, Europe, Australian

People attend the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 18, 2024. Javier MileiArgentina's President Javier Milei delivers a speech at the World Economic Forum (WEF) meeting in Davos on January 17, 2024. Sam AltmanSam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. He said AGI could be developed in the "reasonably close-ish future," speaking at a private gathering at the Bloomberg House in Davos, Switzerland. AI took a huge leap forward in the last year or two years," Benioff said on a World Economic Forum panel Thursday.

Persons: Denis Balibouse, Donald Trump, Ursula von der, Ursula von der Leyen, Jamie Dimon Jamie Dimon, JPMorgan, Adam Galici, Jamie Dimon, Dimon, Larry Fink's, bitcoin, Volodymyr Zelenskyy, CNBC's Andrew Ross Sorkin, Vladimir Putin, Zelenskyy, Putin, Javier Milei, Fabrice COFFRINI, FABRICE COFFRINI, Fabrice Coffrini, Milei, Adena Friedman Adena Friedman, Adena Friedman, Friedman, Sam Altman Sam Altman, Sam Altman, Altman, Antony Blinken Antony Blinken, CNBC Putin, Antony Blinken, Blinken, Trump's, it's, Christine Lagarde, Emmanuel Macron, Macron, Dmytro Kuleba, Arnd Wiegmann, Trump, Vladimir, Ukraine's, Kuleba, Michelle Yeoh Michelle Yeoh, Mike Coppola, Michelle Yeoh, CNBC's Tania Bryer, Yeoh, Pedro Sanchez Spanish, Pedro Sanchez, Isabel Infantes, Sanchez, Li Qiang Li Qiang, Li Qiang, Li, Isaac Herzog, Kfir Bibas, Herzog, Kfir, Hossein Amir, Abdollahian, Atta Kenare, Joe, Biden, Netanyahu, Amir, Sergio Ermotti, MICHAEL BUHOLZER, Ermotti, Marc Benioff Marc Benioff, Salesforce, CNBC's Sara Eisen, Marc Benioff, Benioff, Ray Dalio Ray Dalio, Bridgewater, Ray Dalio, Dalio, Mark Carney Mark Carney, DANIEL LEAL Organizations: Economic, Reuters, European, JPMorgan Chase, CNBC, BlackRock, Getty, Afp, NASDAQ, CNBC Nasdaq, Reuters OpenAI, Bloomberg, State, European Central Bank, Central Bank, Reuters Ukraine's, United Nations Development, Spanish, Getty Images, Hamas, Palestinian, Hezbollah, Turkish, AFP, Iranian, Sergio Ermotti UBS, Getty Images UBS, Credit Suisse, Bridgewater Associates, U.S, Bank of England, UN, OLIVAS Locations: Davos, Switzerland, Ukraine, Gaza, Russia, China, Moscow, WEF, AFP, OpenAI, U.S, Russian, Iran, Europe, United States, Hollywood , California, Madrid, Spain, Beijing, Washington, Lebanese, Tehran, Israel, Hiroshima

☆ 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

☆ Credit Suisse rescue creates bank twice the size of Switzerland's economy
▼ + stars: | 2023-03-23 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

London CNN —The last-minute rescue of Credit Suisse may have prevented the current banking crisis from exploding, but it’s a raw deal for Switzerland. An aerial view of the headquarters of Credit Suisse, center, and UBS, left, at Paradeplatz in Zurich, Switzerland on Sunday, 19 March, 2023. Credit Suisse is “part of Switzerland’s identity,” said Hans Gersbach, a professor of macroeconomics at ETH university in Zurich. “The Credit Suisse Swiss bank is a fine asset that we are very determined to keep,” Kelleher said Sunday. Integration is difficultAt $3.25 billion, UBS got Credit Suisse for 60% less than the bank was worth when markets closed two days prior.

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