Industrial producers are more worried about a deficit of electricity than natural gas, a survey published Tuesday by the bank, Credit Suisse showed. Half of the firms polled are preparing for power outages while only a third are bracing for a lack of gas.
Amid the rising energy risk, a purchasing managers’ index among Swiss manufacturers dropped 2.2 points to 54.9 in October. That’s below the 55.9 reading forecast by economists but above the 50 threshold that separates growth from contraction.
The most popular step companies are taking to secure energy supplies is curbing consumption, followed by acquiring emergency generators or batteries. Other measures include installing solar panels.
Meanwhile, Credit Suisse chairman Axel Lehmann says the planned capital increase will make the lender “rock solid”, while dismissing rumours of a takeover.
In an interview with Bloomberg TV in Hong Kong, he said that the bank wanted to stay independent.
The bank aims to become a wealth management-centric franchise, centered around entrepreneurs, wealthy clients, the chairman said, adding that it wants to grow in Latin America, Asia Pacific and Middle East markets.
Swiss climate activists block vehicles near Gotthard tunnel
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Around ten climate activists briefly blocked the A2 motorway near the northern entrance of the Gotthard tunnel on Thursday.
Watches belonging to Michael Schumacher up for auction
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Schumacher's family is auctioning off eight rare watches from his collection in Geneva. The Christie's auction will take place on Monday.
Joya Marleen and Baschi named best solo acts at Swiss Music Awards
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St. Gallen singer Joya Marleen and Baschi from Basel were named artists of the year at the Swiss Music Awards 2024 on Wednesday night.
Swiss authorities announce cost-cutting in asylum sector
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The government notably wants to improve integration into the labour force, particularly for people with protection status S.
Various leaders confirm participation at Ukraine peace conference
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The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
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In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
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As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
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After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
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The energy crisis is about to make your Swiss ski holiday more expensive
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Swiss hotels, holiday apartments and ski passes look set to be more expensive this winter, largely due higher energy prices.
Report: Switzerland should get through winter without power restrictions
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While Switzerland still faces an energy crunch, it should get through winter with enough power, a new study reportedly shows.
Energy crisis ‘will last many years’, says economics minister
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Guy Parmelin says it is important not only to think about the winter, but to do everything to ensure that Switzerland produces more energy.
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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.