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The Latest Breaking News from Switzerland

Elite Garda units take part in Europe-wide anti-terror exercise - that started in Dublin

Officers played a key role in exercise Firestorm, that involved officers from eight other countries, including Austria, Belgium, France, Germany, Luxembourg, the Netherlands, Switzerland and the United Kingdom

Irish Mirror

To prevent more bank runs, the Fed should pause rate hikes

Inflation is receding, albeit slowly, so there’s no reason to risk more financial tumult. Will the central bank see it that way?

The Guardian - US

Saudi National Bank Says Credit Suisse Crisis Has No Impact on Growth Plans

In light of the repercussions of the crisis experienced by the Credit Suisse Group, the second largest bank in Switzerland, which has been operating for 167 years, the Saudi National Bank announced on Monday that any change in the fair value of its investment in the Swiss group would not…

Asharq Al-Awsat

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Yemen Govt, Houthis to Release 887 Prisoners in UN-mediated Agreement

The Yemeni government and Iran-backed Houthi militias agreed to free 887 detainees and to meet again in May after 10 days of negotiations in Switzerland, the United Nations and the International Committee of the Red Cross said on Monday. "It's an expression of hope. It's an expression of humanity and…

Asharq Al-Awsat

Giant bank deal triggers political backlash in Switzerland

Switzerland's two biggest political parties sharply criticized UBS's takeover of Credit Suisse saying multi-billion state support for the deal created enormous risks for the country.

Reuters

EU, Asia bank shares slide despite UBS decision to buy out Credit Suisse

The European financial system is "resilient" the European Central Bank said on Monday, as global bank shares and oil prices slumped following the announcement that Switzerland's biggest bank UBS will take over troubled rival Credit Suisse.

Radio France Internationale

UBS buys Credit Suisse in government-brokered, $3.2 billion all-share deal

Credit Suisse, a storied bank established in the 19th century, is in its last days as an independent entity. Switzerland's largest bank UBS has agreed to acquire it in a $3.2 billion all-share deal. The forced takeover was brokered by regulators and the Swiss government, who feared reputational damage to…

France 24

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What is Credit Suisse, why is it so significant and who rescued it from collapsing?

As Switzerland’s second biggest lender, Credit Suisse was considered one of the top 30 most important banks in the world

Evening Standard

Yemen's conflict parties reach deal to release 887 detainees

The two sides in Yemen's conflict agreed to free 887 detainees and to meet again in May after 10 days of negotiations in Switzerland, the United Nations and the International Committee of the Red Cross said on Monday.

Reuters

Europe's hopes for busy post-COVID summer dim as Chinese tourists stay away

Urs Kessler, who runs Jungfrau Railways, a train that takes tourists up the highest mountain in Switzerland, was excited for the return of Chinese tourists after COVID-19 restrictions were lifted late last year.

Reuters

UBS to buy Credit Suisse for nearly $3.25B to calm turmoil

Swiss President Alain Berset said banking giant UBS is acquiring its smaller rival Credit Suisse for almost $3.25 billion in an effort to avoid further market-shaking turmoil in global banking

The Independent UK

UBS to buy Credit Suisse for nearly $3.25 billion to calm turmoil in banking industry

Credit Suisse’s buyout by UBS was arranged by banking regulators worried that Credit Suisse’s failure could have repercussions similar to the collapse of Lehman Brothers.

Chicago Sun-Times

World's central banks rally to prevent banking crisis spreading after UBS takes over embattled Credit Suisse

Beleaguered bank Credit Suisse is bought out by Swiss rival UBS, with the nation's president saying an uncontrolled collapse would have had "incalculable consequences" for the international finance system.

ABC News

Jet2 flight sends out distress signal as it flies towards Scottish airport

The plane took off from Geneva in Switzerland at roughly 12.20pm and was expected to touch down at Edinburgh Airport at approximately 1.50pm

Daily Record

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Bangkok Post

Cyber leader

The International Telecommunication Union and the UN recently hosted WSIS Prizes 2023. Advanced Info Service (AIS) showcased its Aunjai cyber capabilities and won in the category of programs using technology to build confidence and security in the use of ICT. Saichon Submakudom, second from right, head of PR at AIS,…

The Independent UK

Near 'cliff's edge,' Credit Suisse not seen as systemic risk

Longtime troubles at Credit Suisse have come to a head this week with a record stock plunge that spread fears of a banking crisis jumping from the U.S. to Europe

Manchester Evening News

Man City handed tricky Champions League quarter-final and potential semi-final opponents

The draw for the Champions League quarter-finals and semi-finals took place in Switzerland on Friday morning.

Los Angeles Times

Nicholas Goldberg: Whose cheese is it anyway? The Swiss ponder the international politics of gruyere

Switzerland is a small country that is not known for too many things. It's got its cheese, its banks, its mountains, its neutrality, its watches, its pocketknives and its chocolate.

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Chronicle Live

Newcastle United star Fabian Schar 'injured' and not included in Switzerland squad

The centre-back is not involved for Euro 2024 qualifiers against Belarus and Israel

Evening Standard

OPINION - The Standard View: Go big and and act fast – the lessons learned from the global financial crisis

Shares in Credit Suisse lost more than a quarter of their value at one stage yesterday after the Swiss bank said it had identified “material weakness” in its financial reporting. The institution revealed that it would borrow up to 50 billion Swiss francs (£35 billion) from Switzerland’s central bank to fortify its…

WEKU

Credit Suisse shares soar after the bank secures a $54 billion lifeline

Shares of the Swiss banking giant rallied significantly Thursday after Switzerland's central bank agreed to lend it $54 billion.

Evening Standard

FTSE 100 Live: Top US banks in First Republic rescue, FTSE closes at 7410 as Credit Suisse fears ease

Credit Suisse’s move to borrow up to £44 billion from Switzerland’s central bank today led to a calmer session after yesterday’s turmoil for European banking stocks.

France 24

Credit Suisse to borrow up to $54 billion from central bank after shares plunge

Swiss bank Credit Suisse said Thursday it will move to shore up its finances, borrowing up to $54 billion from the central bank after its shares plunged, dragging down other major European lenders in the wake of bank failures in the United States.

Tribune News Service

Europe, US futures rally on Credit Suisse funding

Futures for European and U.S. equity futures advanced, Asian stocks pared losses and Treasuries fell Thursday as news that Credit Suisse Group AG would borrow money from Switzerland’s central bank provided a measure of calm for investors.

The Conversation

Sasha Huber’s You Name It: Swiss-Haitian artist renegotiates colonial history in activist exhibition

In 2008, Sasha Huber, a Swiss-Haitian multimedia visual artist based in Finland, began a project to challenge the problematic legacy of Swiss-American glaciologist and natural scientist Louis Agassiz (1807-1873).

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