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The Latest Breaking News from Switzerland

Yemen warring parties agree prisoner swap as peace efforts accelerate

Dubai (AFP) - Yemen's Huthi rebels and its internationally recognised government reached an agreement Monday to exchange more than 880 prisoners, the United Nations confirmed, while urging the two parties, at war since 2014, to continue talks.

AFP

Credit Suisse buyout faces harsh criticism at home

Geneva (AFP) - UBS's emergency takeover of its troubled Swiss rival Credit Suisse, with significant backing and arm-twisting from Bern, sparked fears Monday it could weaken the country's biggest bank and financial sector as a whole.

AFP

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

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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

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

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UBS announces Credit Suisse buyout to calm markets, but Asian equities sink

Bern (Switzerland) (AFP) - UBS is set to take over its troubled Swiss rival Credit Suisse for $3.25 billion following weekend crunch talks aimed at preventing a wider international banking crisis, but Asian equities sank Monday on lingering worries about the sector.

AFP

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 takeover of Credit Suisse: the main points

Zurich (AFP) - The takeover of Credit Suisse by UBS will create a banking giant unprecedented in the history of Switzerland, where banking is a core part of the national identity.

AFP

UBS-Credit Suisse Merger May Lead to Massive Layoffs

The merger of two Swiss banks will result in layoffs in Switzerland and the U.S.

The Street

UBS takes over Credit Suisse in move to calm the markets

Bern (Switzerland) (AFP) - UBS is set to take over its troubled Swiss rival Credit Suisse for $3.25 billion following weekend crunch talks aimed at stopping the stricken bank from triggering a wider international banking crisis.

AFP

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

UBS in $3.25bn takeover of Credit Suisse

Bern (Switzerland) (AFP) - UBS will take over its troubled Swiss rival Credit Suisse for $3.25 billion following crunch talks Sunday aimed at stopping the stricken bank from triggering a wider international banking crisis.

AFP

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AFP

UBS agrees to take over Credit Suisse

Bern (Switzerland) (AFP) - UBS has agreed to take over its troubled Swiss rival Credit Suisse, the president of Switzerland announced Sunday, following urgent talks aimed at sparing the embattled bank from a bloodbath when the markets reopen.

ABC News

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.

AFP

UBS agrees to buy Credit Suisse for $2 bn: report

Bern (Switzerland) (AFP) - UBS has agreed to take over its troubled Swiss rival Credit Suisse after doubling its offer to $2 billion, the Financial Times reported amid urgent talks Sunday aimed at sparing the embattled bank from a bloodbath when the markets reopen.

AFP

UBS, Credit Suisse lock horns in takeover talks

Bern (Switzerland) (AFP) - UBS is prepared to take over its troubled Swiss rival Credit Suisse but only for a knockdown price, reports said Sunday amid urgent talks aimed at saving the embattled bank from a bloodbath when the markets reopen.

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AFP

UBS and Credit Suisse: similar Swiss banks with differing fortunes

Zurich (AFP) - UBS and Credit Suisse, the two biggest banks in Switzerland, are in takeover talks, according to several media -- a move long deemed unthinkable as the pair are so similar.

AFP

UBS in talks to save Credit Suisse

Zurich (AFP) - Credit Suisse is in advanced talks with its larger Swiss rival UBS about a deal to salvage Switzerland's second-biggest bank, in a bid to reassure investors before the markets open next week, several media reported Saturday.

Daily Record

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

AFP

Breaking Maier's ski record leaves Odermatt too 'empty' to party

Soldeu (Andorra) (AFP) - Switzerland's Marco Odermatt broke Hermann Maier's men's World Cup ski points record on Saturday after dominating the giant slalom at the season finals in Andorra.

AFP

Odermatt breaks Maier's men's World Cup ski points record

Soldeu (Andorra) (AFP) - Switzerland's Marco Odermatt broke Hermann Maier's men's World Cup ski points record on Saturday after dominating the giant slalom at the season finals in Andorra.

AFP

Crunch weekend for crisis-hit Credit Suisse

Zurich (AFP) - Troubled Credit Suisse has two days to reassure before the markets open Monday with the spectre of a new turbulent week in global finance looming.

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,…

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