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☆ Lufthansa's boss called delays to Boeing deliveries 'extremely annoying,' and it further highlights a growing dilemma for the aviation giant
▼ + stars: | 2024-05-13 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The CEO of Europe's biggest airline called Boeing's delivery delays "extremely annoying." AdvertisementThe CEO of Lufthansa has become the second airline boss in recent days to voice his frustration with Boeing over delivery delays. In an interview with Swiss newspaper Neue Zuercher Zeitung published Saturday, Carsten Spohr was asked about the planemaker's delivery delays. In an interview with CNBC, Sheikh Ahmed bin Saeed Al Maktoum told Boeing to "get your act together." AdvertisementAfter announcing his resignation, Boeing CEO Dave Calhoun said the company needed to slow down production in order to focus on safety.

Persons: —, Carsten Spohr, Sheikh Ahmed bin Saeed Al Maktoum, Dave Calhoun, Al Maktoum's, Brendan Nelson, Spohr Organizations: Alaska Airlines, Boeing, Service, Lufthansa, Swiss, Neue Zuercher, Europe's, Emirates, CNBC, Boeing Global, Sky Arabia, Ryanair, United Airlines, Max, Airbus, Zuercher Zeitung, Business

☆ German makers of Leopard 2 tank settle legal dispute
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

DUESSELDORF, May 2 (Reuters) - German arms makers Rheinmetall (RHMG.DE) and Krauss-Maffei Wegmann have settled a legal dispute over the intellectual property rights to the Leopard 2, one of the world's most advanced battle tanks, a court said on Tuesday. A boom in defence orders due to the war in Ukraine, and in particular demand for Leopard tanks from Kyiv to help in the fight against Russian forces, has boosted both companies. Duesseldorf-based Rheinmetall makes the cannon of the Leopard 2 and Munich-based KMW makes its chassis. Rheinmetall said both parties had sought to settle the dispute as quickly as possible with the aim of returning to day-to-day business. Earlier this year, Germany bowed to pressure from allies and agreed to send Leopard tanks to Ukraine.

Bowing to pressure from allies, Germany's government this year agreed to send Leopard tanks to Ukraine, one of the big ticket items sought by Kyiv as it gears up to mount a counteroffensive against Russian forces. Duesseldorf-based Rheinmetall makes the cannon of the Leopard 2 while the Munich-based KMW makes its chassis. A district court in Munich in a statement on Tuesday said KMW was seeking legal protection to prevent Rheinmetall from making statements it saw as "untrue, misleading factual assertions that violate its rights". Higher defence spending pushed Rheinmetall to record earnings last year and saw the company enter Germany's DAX blue-chip index. ($1 = 0.9106 euros)Writing by Matthias Williams Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

☆ Austrian banks unaffected by banking turmoil - finance minister tells NZZ
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +2 min

They are very well prepared," Brunner told Swiss newspaper Neue Zuercher Zeitung. He also defended Raiffeisen Bank International (RBI) (RBIV.VI) which has come under fire for continuing to operate in Russia despite the war in Ukraine. "As for RBI, the bank complies with all international sanctions," Brunner told NZZ. "Incidentally, there are other European banks that continue to operate legally in Russia. The minister also said Austrian inflation, which fell to an estimated 9.2% in March, was still too high and called on the European Central Bank to do more to contain price increases.

☆ Austrian banks unaffected by banking turmoil, finance minister tells Neue Zuercher Zeitung
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +2 min

They are very well prepared," Brunner told Swiss newspaper Neue Zuercher Zeitung. He also defended Raiffeisen Bank International (RBI) (RBIV.VI) which has come under fire for continuing to operate in Russia despite the war in Ukraine. "As for RBI, the bank complies with all international sanctions," Brunner told NZZ. "Incidentally, there are other European banks that continue to operate legally in Russia. "The European Central Bank (ECB) in particular can do something about this, as a member of the euro zone we are dependent on the ECB," Brunner said.

☆ Swiss economists question UBS takeover of Credit Suisse in poll
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +3 min

ZURICH, March 31 (Reuters) - A poll of Swiss economists found that nearly half think the takeover of Credit Suisse (CSGN.S) by UBS (UBSG.S) was not the best solution, warning the saga has dented Switzerland's reputation as a banking centre. Switzerland's KOF economic research institute found that 48% of the 167 university economists it questioned would have preferred a state takeover and possible later sale of Credit Suisse. Restructuring Credit Suisse under 'too big to fail" rules was favoured by 28% of respondents. This would have meant rescuing the systemically important Swiss business of Credit Suisse and the international part restructured or wound up. Some 40% of the public thought a temporary state takeover of Credit Suisse would have been a better solution, the GFS Bern survey said.

☆ Swiss finance minister defends rushed banking takeover
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +1 min

"Credit Suisse would not have survived Monday," Karin Keller-Sutter said, explaining the need to find a swift solution for Credit Suisse's woes. Last Sunday it was announced that UBS (UBSG.S) had agreed to buy its rival Credit Suisse (CSGN.S) for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs ($5.4 billion) in losses in a merger engineered by Swiss authorities to prevent more market turmoil in global banking. Shareholders, for example, who would normally get a say in such a takeover were largely bypassed, which has angered some of them. Keller-Sutter said the Swiss government's executive Federal Council "only went as far as was absolutely necessary to achieve the goal of stabilisation". ($1 = 0.9199 Swiss francs)Reporting by Noele Illien Editing by Giles ElgoodOur Standards: The Thomson Reuters Trust Principles.

Reuters Graphics Reuters GraphicsThe Swiss Bank Employees Association, in a statement to Reuters, demanded that UBS keep job cuts to an "absolute minimum". The statement underscores the sense of unease in Switzerland, with its reputation as a global financial center on the line. Green Party lawmaker Gerhard Andrey said that Credit Suisse is "such a visible institute". "A few months ago, nobody would have thought that Credit Suisse would fail. "But also that we are upholding the reputation of the Swiss financial centre."

☆ UBS has no desire to buy Credit Suisse, chairman tells newspaper
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Jan 14 (Reuters) - UBS (UBSG.S) has no interest in buying fellow Swiss lender Credit Suisse (CSGN.S), the bank's Chairman Colm Kelleher said in a interview published on Saturday. "We have no desire to buy Credit Suisse," Kelleher told the Neue Zuercher Zeitung. "There are always scenarios, but none that are convincing," he said when asked if there were any situations where a UBS takeover of Credit Suisse made sense. The former chairmen of Credit Suisse and UBS supported a merger between the two banks, and held talks in the first half of 2020, Swiss media reported two years ago. The discussions eventually lapsed, the media reports said, and both Urs Rohner and Axel Weber have since left their roles at Credit Suisse and UBS respectively.

☆ ZKB not poaching Credit Suisse clients - CEO in paper
▼ + stars: | 2022-12-17 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Zuercher Kantonalbank (ZKB) bank is seen at its headquarters in Zurich, Switzerland September 24, 2020. REUTERS/Arnd WiegmannZURICH, Dec 17 (Reuters) - Zuercher Kantonalbank (ZKB.UL) is not trying to poach clients from embattled Credit Suisse (CSGN.S), the state-backed cantonal bank's chief executive said in a newspaper interview published on Saturday. Amid a social media storm that sparked unfounded speculation about its stability, Credit Suisse reported sharp outflows in October as wealthy clients moved assets elsewhere, although its chairman has said the situation has since stabilised. ZKB CEO Urs Baumann told the Neue Zuercher Zeitung his bank was not actively approaching Credit Suisse clients and said ZKB was not using its state backing as a marketing tool amid such market jitters. Asked would it mean for the Swiss banking sector and for ZKB if problems at Credit Suisse intensified, he said:"We want a strong CS.

☆ Swiss minister: economic situation means difficult years ahead
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Nov 5 (Reuters) - The threat of recession in the euro zone and beyond, an energy supply squeeze and the eroding effect of inflation on purchasing power mean Switzerland faces difficult years ahead, Justice Minister Karin Keller-Sutter told the Neue Zuercher Zeitung. "I consider this mixed situation to be very difficult," she said in comments published on Saturday. In September, the Swiss government significantly cut its economic growth forecasts, citing growing risks from a "tense energy situation and sharp price increases". It now expects the country's economy to expand 2.0% this year, down from its June forecast for 2.6% growth. Writing by Paul Carrel; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ Swiss prosecutors appeal against acquittals of Blatter, Platini
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

Former UEFA President Michel Platini speaks to the media after a trial at the Swiss Federal Criminal Court in Bellinzona, Switzerland July 8, 2022. REUTERS/Arnd WiegmannZURICH, Oct 20 (Reuters) - Swiss federal prosecutors have filed an appeal to overturn the acquittals of former FIFA President Sepp Blatter and France footballing great Michel Platini on corruption charges, they said on Thursday. Switzerland's Federal Criminal Court had cleared the two in July after a seven-year investigation in which both were booted out of the sport. A judge said the pair's account of a 'gentlemen's agreement' for FIFA to pay Platini 2 million Swiss francs ($1.99 million)for consulting work was credible, and serious doubts existed about the prosecution's allegation that it was a fraudulent payment. ($1=1.0049 Swiss francs)Register now for FREE unlimited access to Reuters.com RegisterReporting by Michael Shields; Editing by Clarence Fernandez/Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

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