Swiss bank Credit Suisse has sold its stake in a Spanish digital wealth platform as part of a strategic overhaul aimed at reviving its ailing fortunes.
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Credit Suisse vende su participación en plataforma española Allfunds
Credit Suisse took a stake in Allfunds in 2019, merging its InvestLab unit with the fintech to create a €500 billion digital funds distribution platform.
But the Swiss bank has since floundered amid a myriad of legal issues and huge market losses. New CEO Ulrich Körner has been charged with reviving the bank’s fortunes with a strategic re-think.
Credit Suisse has achieved one legal victory after a United States court cleared the bank of rigging prices in the foreign exchange markets.
The jury has cleared the bank of allegations of market fixing between 2007 and 2013.
“Credit Suisse is extremely pleased that the jury agreed with us that plaintiffs’ case had no merit,” the bank said in a statement on Friday.
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Credit Suisse prepares Swiss business sales to raise capital
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Credit Suisse is preparing to sell parts of its Swiss domestic bank as it attempts to close a capital hole of around CHF4.5 billion.
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
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Emergency crews contained the oil and began removing some of the pollution from the water’s surface, said the St Gallen cantonal police on Sunday.
Switzerland lifts sanctions on Syria after Assad’s fall
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Switzerland is lifting economic sanctions on Syria, but targeted measures against figures linked to the former regime remain in place.
Thousands march in Bern calling for Gaza ceasefire
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More than 10,000 people – or up to 20,000, according to organisers – marched through central Bern on Saturday afternoon in support for Gaza.
Zurich Pride draws large crowds amid financial strain
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Following US President Donald Trump’s attacks on diversity initiatives, Zurich Pride fears more sponsors could pull out and is now facing financial difficulties.
Switzerland ‘deeply alarmed’ by Middle East escalation
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Switzerland has voiced serious concern over rising tensions in the Middle East, and the UN chief says he is ‘alarmed’ by US strikes on Iran.
Switzerland among world’s most expensive for household electricity
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According to a study by the comparison site Verivox, based on data from Global Petrol Prices, Switzerland came in tenth out of 143 countries.
Global uncertainty boosts Swiss-EU talks, says Cassis
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Swiss Foreign Minister Ignazio Cassis says Switzerland’s talks with the European Union (EU) have been boosted by the current difficult global situation.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
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Credit Suisse prepares Swiss business sales to raise capital
This content was published on
Credit Suisse is preparing to sell parts of its Swiss domestic bank as it attempts to close a capital hole of around CHF4.5 billion.
Credit Suisse pays $495 million to settle legacy case
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Credit Suisse has agreed to pay $495 million to settle a case linked to its residential mortgage-backed security (RMBS) business.
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If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.