Switzerland and the financial crisis
Swiss banks learn Lehman lessons
The Swiss banking system is reacting faster to last year's devastating collapse of Lehman Brothers than those of other countries, say observers. ... »
Staff costs add to UBS problems
Embattled Swiss bank UBS lost SFr1.4 billion ($1.32 billion) in the second quarter of 2009, pushing total losses for the first half of 2009 to about SFr3.4 billion. ... »
Swiss economy shrinks as exports slump
Swiss gross domestic product (GDP) for the first quarter of 2009 has fallen by 0.8 per cent on the previous three months, its worst quarterly performance since 1992. ... »
Researchers paint gloomy picture for economy
Two Swiss economic research groups say there are signals that Switzerland is heading towards a dramatic economic slowdown. ... »
Credit Suisse puts global competition in shade
Swiss bank Credit Suisse has outperformed international competitors with a better-than-expected SFr2 billion ($1.7 billion) profit in the first three months of the year. ... »
Business lobby wary of creeping protectionism
Business leaders have voiced concerns about the potentially damaging effects of global protectionism as the economic recession takes root. ... »
Recession to last "at least two years"
The prognosis for the Swiss economy continues to worsen with forecasters now fearing the deepening recession will last a minimum of two years. ... »
Crisis forces watch industry to "reset" values
As the doors open to Baselworld 2009, the biggest event of the watchmaking calendar, organisers of the show are upbeat about the industry's outlook. ... »
Senate agrees new credit to counter recession
Parliament has endorsed another series of measures to stimulate the Swiss economy, hit by the global financial crisis. ... »
Media raise doubts over UBS salary caps
The parliamentary debate about a second financial stimulus package to boost the ailing economy has prompted mixed reviews in the Swiss media. ... »
Swiss keen to decouple secrecy and tax evasion
Finance Minister Hans-Rudolf Merz has issued the strongest hint yet that Switzerland might change its view on tax evasion in order to preserve banking secrecy. ... »
Can Grübel repeat bank-saving trick at UBS?
Veteran banker Oswald Grübel earned a reputation as a magician when he turned around the fortunes of Credit Suisse but faces even greater challenges at rival UBS. ... »
Banking secrecy faces an uncertain future
Switzerland's tradition of banking secrecy has come under renewed pressure as the United States takes on the country's largest financial institution. ... »
UBS makes record SFr20 billion loss in 2008
Switzerland's embattled largest bank, UBS, made a loss of almost SFr20 billion ($17 billion) last year, the highest ever by a Swiss group. ... »
"What motivates bankers? Vanity"
UBS, Switzerland's largest bank, is back in the headlines with its decision to give its employees bonuses for 2008 – a year when its losses ran into billions. ... »
UBS bonuses make many shake their heads
There has been a public backlash over a decision by Switzerland's largest bank, UBS, to pay out SFr2 billion ($1.77 billion) in bonuses after massive losses in 2008. ... »
Financial system "could yet collapse"
An eminent political economist has warned that the global financial system is still perilously close to breakdown despite a raft of government rescue packages. ... »
Retailers ignore clouds by predicting growth
The Swiss retail market expects to weather the economic storm by generating increased sales of up to eight per cent this year, according to a survey. ... »
Credit Suisse converts bad assets into bonuses
Investment bankers at Credit Suisse will be handed back a chunk of the bad assets they generated themselves as part of their bonuses this year. ... »
Economic barometer hits five-year low
Switzerland's leading KOF economic growth barometer fell to a five-year low in December as exports and consumption declined. ... »
Financial storm leaves economy reeling
As the winter takes grip in Switzerland the chill can also be felt in companies, financial institutions and the economy as a whole following a stormy year. ... »
Looming recession raises debt question
Most people in Switzerland oppose increasing the national debt and want state spending slashed and taxes reduced, according to a recent survey. ... »
Swiss banks add up cost of investment scam
Private banks in Switzerland have been caught up in an elaborate fraud that collapsed in the United States last week with $50 billion (SFr59 billion) losses. ... »
Financial crisis boosts Swiss gold production
Gold refineries in Switzerland are working at their limit to cope with demand for the precious metal from investors seeking ways to shield their wealth. ... »
Bailout plan agreed despite leftwing protest
Parliament has approved the government's multi-billion bailout package for leading bank UBS and increased account holders' protection. ... »
Financial rescue plan under political scrutiny
Parliament has begun discussing the government's rescue package for the country's financial system, including a bailout plan for the leading UBS bank. ... »
Bank "supervisors" proposed at G20 summit
World leaders have laid the foundation for reforms to the international financial system at the G20 summit in the United States. ... »
Obama must manage "complex" economic situation
In addition to the wars in Iraq and Afghanistan, the ailing United States economy is one of the main concerns of US President-elect Barack Obama. ... »
End of boom but no bust for tourist industry
Tourism in Switzerland reached the summit over the past 12 months with record visitor numbers, but is now being forced into descent by the global financial crisis. ... »
Financial excesses could slow economic reform
The damage caused by the financial crisis could set back support for economic reform in Switzerland, the head of the Swiss Business Federation tells swissinfo. ... »
Dr Doom sees gloom for global bourses
Swiss financial guru Marc Faber tells swissinfo he sees hard times ahead for the world's stock exchanges and even state bankruptcy for the United States. ... »
Businesses fear effects of strong franc
Switzerland's export driven economy is facing up to the prospect of a tough few months after the sudden appreciation of the franc this week. ... »
Credit Suisse confirms loss, cuts bad assets
Credit Suisse made a third-quarter net loss of SFr1.26 billion ($1.08 billion), the bank reported on Thursday, confirming a warning issued last week. ... »
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