Latest News for: Switzerland weekend

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Swiss locations to join Saturday lights out for biodiversity

Swissinfo 25 Mar 2023
Some 20 locations in Switzerland are joining an international ... Gallen in northeast Switzerland is going a step further and organising a whole weekend around the Earth Hour theme of biodiversity.
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Swiss minister on Credit Suisse rescue by UBS: we averted another global financial crisis

The Times/The Sunday Times 25 Mar 2023
Switzerland’s finance minister yesterday defended last weekend’s rescue of Credit Suisse, saying without the state-brokered takeover by rival UBS there could have been a ...
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Swiss finance minister defends rushed Credit Suisse takeover'Credit Suisse would not have survived Monday,' Karin ...

Deccan Herald 25 Mar 2023
Switzerland's finance minister defended the shotgun merger between the country's two largest banks in an interview with Swiss newspaper Neue Zuercher Zeitung on Saturday, saying the use of emergency law was necessary to stabilise the situation ... Switzerland.
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Central banks hike rates despite turmoil

The Manila Times 24 Mar 2023
THE Bank of England (BoE) joined Norway and Switzerland in hiking interest rates ... Switzerland at the weekend brokered the takeover of crisis-hit Credit Suisse by its Swiss rival UBS — both of which are among 30 banks around the world deemed by regulators as "too big to fail.".
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European bank shares slump as contagion fears reignite

Urdu Point 24 Mar 2023
In Paris, Societe Generale shed nearly eight percent and BNP Paribas lost around seven percent in value ... The region's indices had wobbled Thursday as investors weighed rate hikes in Britain, Norway and Switzerland ... Switzerland's enforced UBS buyout of embattled Credit Suisse last weekend sent further shockwaves across trading floors ... ....
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Small U.S. banks lose 1.9% of their deposits after SVB failure

Market Watch 24 Mar 2023
The numbers. Deposits at small U.S. banks fell by $107.9 billion to $5.47 trillion in the week shortly after the collapse of Silicon Valley Bank, according to Federal Reserve data on Friday ... The emergency rescue of Switzerland-based Credit Suisse last weekend had added to the stress. The data is for the week ended March 15. Key details ... Big picture ... U.S ... .
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UBS, Credit Suisse tie-up may not lead to Swiss blissUBS was already the biggest bank ...

Deccan Herald 23 Mar 2023
The marriage of UBS and Credit Suisse was hastily arranged to prevent a global financial meltdown -- but the resulting megabank could cause domestic problems in Switzerland, the central bank admitted Thursday ... "We have to make sure that in the future in Switzerland there will be enough competition for providing banking services ... Switzerland.
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Swiss National Bank (SNB) hikes rates despite Credit Suisse demise

Invezz 23 Mar 2023
The interest rate decision by the SNB was important because it came at a time when Switzerland is facing its toughest economic challenge. During the weekend, the SNB and the financial regulator forced UBS to acquire Credit Suisse in a $3.3 billion deal ... As such, there are concerns that the myth of Switzerland as a safe haven could be ending, ... ....
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Should bank failures worry you? What keeps your cash safe

This is Money 23 Mar 2023
Two banks have needed bailouts in the space of�just a few days - Switzerland's Credit Suisse and Silicon ... The news broke�over the weekend that Switzerland's biggest bank, UBS, had bought its former rival Credit Suisse in a hurried deal�designed to prevent a banking implosion.�.
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After Fed, European central banks hike their rates

Urdu Point 23 Mar 2023
Switzerland and Norway hiked interest rates on Thursday to tackle inflation despite banking-sector turmoil, with the UK's central bank next in line after the US Federal Reserve also lifted borrowing costs ... Switzerland at the weekend had brokered the takeover of crisis-hit Credit Suisse by its Swiss rival UBS.
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Credit Suisse Bonds Wipeout: Regulator Defends Move. Other Holders Beware.

Market Watch 23 Mar 2023
Credit Suisse was bought by rival UBS on instructions from regulators last weekend. Fabrice Coffrini/AFP via Getty Images. Switzerland’s financial regulator Finma published a statement justifying the write-down of Credit Suisse’s Additional Tier 1 bonds in the takeover by UBS last weekend ... The short answer from Finma. it was in the small print ... .
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Bank of England poised for rate hike following inflation shock

CNN 23 Mar 2023
The Bank of England is expected to hike rates by a quarter of a percentage point Thursday following an unexpected jump in inflation ... Other major central banks are continuing to raise borrowing costs ... Announcing its rate hike, Switzerland’s central bank said UBS’s weekend takeover of Credit Suisse had “put a halt” to the banking crisis ... ET ... .
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Should you be worried by bank failures? As savers are told not to worry, here's ...

The Daily Mail 23 Mar 2023
Two banks have needed bailouts in the space of just a few days - Switzerland's Credit Suisse and Silicon Valley Bank, from the US ... The cavalry's arrived ... The news broke over the weekend that Switzerland's biggest bank, UBS, had bought its former rival Credit Suisse in a hurried deal designed to prevent a banking implosion ... RELATED ARTICLES ... Anger... .
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Should you be worried by bank failures? As savers are told not to fret, here's ...

The Daily Mail 23 Mar 2023
Two banks have needed bailouts in the space of just a few days - Switzerland's Credit Suisse and Silicon Valley Bank, from the US ... The cavalry's arrived ... The news broke over the weekend that Switzerland's biggest bank, UBS, had bought its former rival Credit Suisse in a hurried deal designed to prevent a banking implosion ... RELATED ARTICLES ... Anger... .
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Swiss Suspend Bonus Payouts to Credit Suisse Staffers

The Epoch Times 22 Mar 2023
Late last week and into the weekend, authorities in Switzerland, backed by the central bank and financial regulators, scrambled to cobble together ...
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