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Register now for FREE unlimited access to Reuters.com RegisterThe logo of Nord Stream is seen at the headquarters of Nord Stream AG in Zug, Switzerland March 1, 2022. REUTERS/Arnd Wiegmann/STOCKHOLM, Sept 27 (Reuters) - Sweden's Maritime Authority said on Tuesday it had issued a warning of two leaks on the Russian-owned Nord Stream 1 pipeline in Swedish and Danish waters, shortly after a leak on the nearby Nord Stream 2 project was discovered. "There are two leaks on Nord Stream 1 - one in Swedish economic zone and one in Danish economic zone. On Monday, Danish authorities asked ships to steer clear of a five nautical mile radius southeast off Bornholm after a gas leak from the defunct Nord Stream 2 pipeline drained into the Baltic Sea. read moreLater the same day, the operator of the Nord Stream 1 pipeline, which ran at reduced capacity from mid-June before shutting down completely in August, also disclosed a pressure drop on both lines of the Nord Stream 1 gas pipeline.

☆ Kremlin: sabotage cannot be ruled out as reason for Nord Stream damage
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +3 min

The logo of Nord Stream is seen at the headquarters of Nord Stream AG in Zug, Switzerland March 1, 2022. Nord Stream AG, the operator of the network, said earlier on Tuesday that three offshore lines of the Nord Stream gas pipeline system sustained "unprecedented" damage in one day. The Nord Stream 1 and Nord Stream 2 pipelines have a joint annual capacity of 110 billion cubic metres - more than half of Russia's normal gas exports volumes. Sweden's Maritime Authority issued a warning about two leaks in the Nord Stream 1 pipeline, shortly after a leak on the nearby Nord Stream 2 pipeline was discovered that had prompted Denmark to restrict shipping in a five nautical mile radius. Nord Stream 2, which runs almost in parallel to Nord Stream 1, was built in September 2021 but was never launched as Germany refused to certify it.

☆ Credit Suisse: strategy review on track, details due on Oct. 27
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Switzerland's national flag flies above the logo of Swiss bank Credit Suisse at its headquarters in Zurich, Switzerland April 18, 2021. REUTERS/Arnd WiegmannSummarySummary Companies Bank says strategy review "well on track"Details still set to emerge on Oct. 27Shares up after sharp falls last weekZURICH, Sept 26 (Reuters) - Credit Suisse Group (CSGN.S) is pressing ahead with its strategic review that includes potential divestitures and asset sales, the Swiss bank said on Monday, reiterating it would share more details with third-quarter results due on Oct. 27. Citing people familiar with the situation, Reuters reported last week that Credit Suisse is sounding out investors for fresh cash as it attempts a radical overhaul of its investment bank. The board of directors and the executive board were considering alternatives that go beyond the conclusions of last year's strategic review, it said. Shares in Switzerland's second-biggest bank rose 2.7% in early trade after falling more than 12% to record lows on Friday.

The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. A spokesperson for Intel did not comment as negotiations are ongoing and confidential. Among other reasons, the site is well connected with Germany and in particular with the city of Magdeburg, where Intel will build two factories, one of the sources added. Intel and the government had also initially considered sites in the Lombardy, Apulia and Sicily regions. The sources declined to provide further details, but Reuters has previously reported that Rome is ready to fund as much as 40% of Intel's total investment in Italy.

☆ Credit Suisse: details of strategy review still due on Oct. 27
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Switzerland's national flag flies above the logo of Swiss bank Credit Suisse at its headquarters in Zurich, Switzerland April 18, 2021. REUTERS/Arnd WiegmannZURICH, Sept 26 (Reuters) - Credit Suisse Group (CSGN.S) is pressing ahead with its strategic review that includes potential divestitures and asset sales, the Swiss bank said on Monday, reiterating it would share more details with third-quarter results due on Oct. 27. Register now for FREE unlimited access to Reuters.com RegisterThe board of directors and the executive board were considering alternatives that go beyond the conclusions of last year's strategic review, it said. It added: "The bank is currently executing on a number of strategic initiatives including potential divestitures and asset sales." Citing people familiar with the situation, Reuters reported last week that Credit Suisse is sounding out investors for fresh cash as it attempts a radical overhaul of its investment bank.

The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. Intel's investment in Italy is part of a wider plan announced by the U.S. chipmaker last March to invest as much as 80 billion euros ($77.5 billion) over the next decade in building capacity across Europe. A spokesperson for Intel did not comment as negotiations are ongoing and confidential. Intel and the government had also initially considered sites in the Lombardy, Apulia and Sicily regions. The sources declined to provide further details, but Reuters has previously reported that Rome is ready to fund as much as 40% of Intel's total investment in Italy.

☆ Pfizer CEO tests positive for COVID for a second time
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterAlbert Bourla, CEO of Pfizer attends a discussion at the World Economic Forum (WEF) in Davos, Switzerland May 25, 2022. REUTERS/Arnd WiegmannSept 24 (Reuters) - Pfizer Inc (PFE.N) Chief Executive Officer Albert Bourla said on Saturday he had tested positive for COVID-19. Bourla has received four doses of the COVID vaccine developed by Pfizer and its German partner BioNTech (22UAy.DE). A federal health agency said this week that over 25 million doses of the so-called bivalent shots had been sent out. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Mrinmay Dey in Bengaluru; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland September 2, 2022. Reuters reported on Thursday that Credit Suisse had sounded out investors about a possible capital raising as it attempts a radical overhaul of its investment bank. "When we launched our strategic review, we committed to an ambitious timeline whilst also making it clear that we would carry out a rigorous and diligent evaluation of all options for Credit Suisse," the note said. A Credit Suisse spokesperson confirmed the contents of the memo. A bank spokesman said "Credit Suisse is not exiting the U.S.

☆ Societe Generale says two senior executives to leave bank
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Societe Generale Private Banking is seen at an office building in Zurich, Switzerland March 25, 2022. REUTERS/Arnd WiegmannPARIS, Sept 23 (Reuters) - Societe Generale (SOGN.PA), which is seeking a new chief executive, said on Friday two senior female executives would be stepping down before the end of the year. France's third-biggest listed bank said Chief Risk Officer Sadia Ricke would leave on Nov. 30 and Caroline Guillaumin, the head of human resources and communication, would quit on Dec. 15. Ricke, a SocGen veteran, will become group chief risk officer of Asia and Africa-focused bank Standard Chartered, the London-based bank said in a separate statement. Register now for FREE unlimited access to Reuters.com RegisterRicke joined Societe Generale in 1994 and held a series of senior positions within the corporate and investment banking division before being appointed as chief risk officer last year.

☆ Swiss bank UBP returns to Chinese markets
▼ + stars: | 2022-09-23 | by ( Summer Zhen | ) www.reuters.com time to read: +2 min

The Union Bancaire Privee (UBP) sign is seen at one of its branch offices in Zurich, Switzerland November 20, 2017. REUTERS/Arnd WiegmannHONG KONG, Sept 23 (Reuters) - Swiss private bank Union Bancaire Privée (UBP) is back in Chinese markets, its chief investment officer said, making its way back to the world's second-largest economy after withdrawing last year. Villamin said UBP saw some “hope” that there would be more stimulus measures ahead of and after the Communist Party Congress in October. UBP has however only bought China A-shares, which is the domestic sector, and is avoiding companies that might have exposure to geopolitical issues. UBP believes China is slowly poised to recover although it will not be a smooth sailing.

☆ Credit Suisse shares hit record low after report bank is looking to raise cash
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterSwitzerland's national flag flies in front of the headquarters of Swiss bank Credit Suisse in Zurich, Switzerland July 27, 2022. REUTERS/Arnd Wiegmann/File PhotoLONDON, Sept 23 (Reuters) - Credit Suisse (CSGN.S) shares dropped to a record low on Friday after a Reuters report said the company is looking to raise fresh cash. Shares in Credit Suisse (CSGN.S) fell over 7% in early trade to a record low of 4.26 francs. Including Friday's move, shares are down over 50% this year and are on track for their worst yearly performance since 2008. Register now for FREE unlimited access to Reuters.com RegisterReporting by Samuel Indyk; Editing by Dhara RanasingheOur Standards: The Thomson Reuters Trust Principles.

☆ SNB to use SNB bills and repo transactions to absorb liquidity - Maechler
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: 1 min

The Swiss National Bank (SNB) logo is pictured on its building in Bern, Switzerland June 16, 2022. REUTERS/Arnd WiegmannZURICH, Sept 22 (Reuters) - The Swiss National Bank is going to use SNB bills and repo transactions to absorb liquidity in order to ensure short-term money market rates remain close to the now positive policy rate, governing board member Andrea Maechler said on Thursday. "We are adjusting our implementation approach," said Maechler in comments prepared for a speech she was due to give after the SNB announced a rate hike, adding the new approach consisted in absorbing liquidity via open market operations and a tiered remuneration of sight deposits banks hold at the SNB. Register now for FREE unlimited access to Reuters.com RegisterReporting by Silke Koltrowitz; Editing by Michael ShieldsOur Standards: The Thomson Reuters Trust Principles.

☆ China urges Europe to take positive steps on climate change
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

China's chief climate negotiator Xie Zhenhua smiles as he takes part a panel discussion at the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 24, 2022. REUTERS/Arnd Wiegmann/FilesSHANGHAI, Sept 22 (Reuters) - Europe and other developed countries must take "positive action" to implement climate change goals as geopolitical uncertainties threaten to undermine their efforts, China's top climate envoy told his German counterpart. Xie Zhenhua, who leads China's climate negotiations, told Germany's special climate envoy Jennifer Morgan via video link late on Wednesday that global climate governance was currently facing "multiple challenges and uncertainties". China, the world's biggest carbon emitter, is expected to focus on the issue of financing at this year's global climate talks, known as COP27, which will take place in Sharm El-Sheikh in Egypt in November. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Stanway; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Register now for FREE unlimited access to Reuters.com RegisterSwiss drugmaker Novartis' logo is seen at the company's plant in the northern Swiss town of Stein, Switzerland October 23, 2017. Register now for FREE unlimited access to Reuters.com RegisterIt ranked 10th in the U.S. market last year, the company added. Novartis also said it would focus in future on five areas for investment: cardiovascular, immunology, neuroscience, solid tumors and hematology medicine. The company last month said it planned to spin off Sandoz to sharpen its focus on its patented prescription medicines. Register now for FREE unlimited access to Reuters.com RegisterEditing by Mark Potter and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ EXCLUSIVE Credit Suisse sounds out investors about capital hike - sources
▼ + stars: | 2022-09-22 | by ( Oliver Hirt | ) www.reuters.com time to read: +4 min

The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland September 2, 2022. Various scenarios are under discussion for the investment bank, including the most drastic option of largely exiting the U.S. market, two sources said. A Credit Suisse (CSGN.S) spokesperson said: "We have said we will update on progress on our comprehensive strategy review when we announce our third-quarter earnings. There is significant interest in this business, sources said, including from financial investors, other banks and insurers. Credit Suisse is also considering cutting around 5,000 jobs, about one position in 10, as part of the cost reduction drive.

☆ Meta is a buy as the social media giant embarks on plan to slash costs
▼ + stars: | 2022-09-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Shares of Club holding Meta Platforms (META) are looking more attractive after a report on Thursday that the social media giant is planning to slash costs. Bottom line It's good news to see Meta slash expenses, said Jeff Marks, director of portfolio analysis at the Investing Club. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

The building of the Swiss National Bank (SNB) is pictured in Bern, Switzerland June 16, 2022. The increase to 0.5%, from minus 0.25%, followed a 50 basis point hike in June from minus 0.75%, the SNB's first rate hike in 15 years. The SNB originally imposed negative rates in December 2014 and lowered them again in January 2015 to minus 0.75%. Negative rates were unpopular among Swiss banks, who saw them as a charge on their activities and also reduced lending margins. The Swiss Bankers Association said negative rates meant the country's lenders had borne the brunt of the fight against the appreciating franc.

☆ Credit Suisse considers splitting investment bank in three - FT
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland September 2, 2022. REUTERS/Arnd Wiegmann/File PhotoSept 22 (Reuters) - Credit Suisse Group AG (CSGN.S) has drawn up plans to split its investment bank in three, the Financial Times reported on Thursday, as the Swiss lender attempts to emerge from three years of relentless scandals. "We have said we will update on progress on our comprehensive strategy review when we announce our third-quarter earnings," the newspaper report quoted Credit Suisse as saying. Reuters reported earlier this month that Credit Suisse, Switzerland's second-biggest bank, was also looking to cut around 5,000 jobs, about one position in 10, as part of a cost-reduction drive. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Juby Babu in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ UBS to eliminate account balance fees from Oct 1 after SNB hike
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland, January 27, 2017. REUTERS/Arnd WiegmannZURICH, Sept 22 (Reuters) - UBS Group (UBSG.S) will eliminate from Oct. 1 the fee it charged on accounts by private and corporate clients to offset negative interest rates after the Swiss National Bank raised its policy rate into positive territory on Thursday, the bank said. Credit Suisse (CSGN.S) said in an emailed statement it would keep monitoring the market situation and could soon adjust rate conditions, but had stopped charging private clients negative interest rates from July 1. Register now for FREE unlimited access to Reuters.com RegisterReporting by Oliver Hirt, Writing by Michael Shields, editing by Silke KoltrowitzOur Standards: The Thomson Reuters Trust Principles.

☆ Meta's privacy obligations may be added to German antitrust probe, court adviser says
▼ + stars: | 2022-09-20 | by ( Foo Yun Chee | ) www.reuters.com time to read: +3 min

At issue is whether the German antitrust agency overstepped its authority by using its antitrust power to address data protection concerns, which are the remit of national data protection authorities. A German court subsequently sought guidance from the CJEU. "A competition authority may, in exercising its powers, take account of the compatibility of a commercial practice with the General Data Protection Regulation," he said in a non-binding opinion. He said antitrust watchdogs however need to consult with the lead privacy enforcers as well, which in Meta's case is the Irish data protection agency as its European headquarters is based there. In May, it was designated by the German authority as of "paramount importance for competition across markets" subject to tougher rules.

☆ UBS seeing positive client flows this quarter - Khan
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland, January 27, 2017. REUTERS/Arnd Wiegmann/File PhotoZURICH, Sept 20 (Reuters) - UBS Group (UBSG.S) is seeing positive flows of client funds this quarter, the co-head of the Swiss bank's wealth management business said on Tuesday. The first quarter had been pretty strong and it viewed the slowdown in the second quarter as an "anomaly", Iqbal Khan told the BofA Global Research financials conference. "As of this quarter we are seeing positive flows," he said without being specific. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Michael Shields, editing by Rachel More and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Swiss cut growth forecasts given energy risks and inflation
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann/File PhotoZURICH, Sept 20 (Reuters) - The Swiss government significantly cut its economic growth forecasts on Tuesday, citing increasing risks from a "tense energy situation and sharp price increases". "After a positive first half of the year 2022, the Swiss economy now faces a deteriorating outlook," SECO said. SECO increased its inflation forecast, saying it expected consumer prices to rise by 3% in 2022 and 2.3% in 2023. Previously it had expected inflation of 2.5% this year and 1.4% in 2023. Register now for FREE unlimited access to Reuters.com RegisterReporting by John Revill; Editing by Michael ShieldsOur Standards: The Thomson Reuters Trust Principles.

☆ Palantir signs $20 mln deal with S.Korea's Hyundai Heavy Industries
▼ + stars: | 2022-09-20 | by ( Joyce Lee | ) www.reuters.com time to read: +2 min

The logo of U.S. software company Palantir Technologies is seen in Davos, Switzerland, May 22, 2022. REUTERS/Arnd Wiegmann/File PhotoSEOUL, Sept 21 (Reuters) - Palantir Technologies Inc (PLTR.N) announced on Wednesday it signed a deal valued at $20 million over five years to expand its partnership with South Korea's Hyundai Heavy Industries Group (267250.KS), one of the world's largest shipbuilding conglomerates. The conglomerate's shipbuilding affiliates including Hyundai Heavy (329180.KS) will use Palantir's operating system, known as Foundry, to strengthen data-driven decision making, Palantir's Chief Operating Officer Shyam Sankar told Reuters. Palantir is also actively working to extend partnerships with South Korea's government as well as private sectors, and has formally opened an office in Seoul. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Joyce Lee; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Chinese millionaires to double by 2026, Credit Suisse says, despite slowing economy
▼ + stars: | 2022-09-20 | by ( Selena Li | ) www.reuters.com time to read: +2 min

REUTERS/Arnd WiegmannHONG KONG, Sept 20 (Reuters) - The number of Chinese millionaires is expected to double by 2026, according to a report by Credit Suisse (CSGN.S) issued on Tuesday, despite Beijing's national drive to ease wealth inequality and a sharply slowing economy. Total household wealth in China reached $85.1 trillion in 2021, up 15.1% or $11.2 trillion from 2020. That number in China is expected to double to 12.2 million in five years time, the report said. The bullish China wealth growth outlook comes even as the world's second-largest economy narrowly avoided contracting in the second quarter as widespread COVID-19 lockdowns and the slumping property sector hit consumer and business confidence. However, the Swiss private bank remains upbeat about five-year growth outlook, with global household wealth expected to increase by $169 trillion by 2026.

☆ Swiss activists drop campaign against F-35 fighter deal
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

A F-35A fighter aircraft takes-off during a presentation at the Swiss Air Force base in Emmen, Switzerland March 23, 2022. REUTERS/Arnd Wiegmann/File PhotoZURICH, Sept 20 (Reuters) - Activists have withdrawn their campaign to stop Switzerland from buying 36 Lockheed Martin (LMT.N) F-35A Lightning II fighter jets after the government signed a $5.5 billion procurement deal without waiting for a referendum. Switzerland chose the F-35 last year as its next-generation fighter jet, angering opponents who said they would ensure a referendum to overturn what they called an unnecessary "Ferrari" option. read moreParliament approved the deal last week, and a contract was signed on Monday even as opponents were gathering signatures to force a referendum under the Swiss system of direct democracy. For this reason, the Alliance against the F-35 will withdraw its popular initiative, but remains convinced that the F-35 is a bad purchase and a billion-dollar risk for Switzerland."

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