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The Latest Breaking News from Switzerland

British teenager killed in avalanche while skiing in Switzerland

The teenager’s body was recovered and police are still searching for a second victim

Evening Standard

Brit, 18, killed after avalanche swept him away while on ski tour in Switzerland

The British skier, 18, was swept away and killed in an avalanche while out on the slopes in Meiringen, in the Swiss canton of Bern, with another unidentified individual still missing as rescue teams trawl through the snow

Daily Mirror

Switzerland’s national pride dealt heavy blow by the merger of its banking titans

‘A monster is born’, say local press, as Credit Suisse takeover by UBS creates bank twice the size of the Swiss economy

The Guardian - UK

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UN, US Welcome Latest Prisoner Exchange Agreement in Yemen

The international community welcomed the latest prisoner exchange agreement reached between the legitimate Yemeni government and Iran-backed Houthi militias. The parties 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…

Asharq Al-Awsat

Credit Suisse is an anomaly: why Australia and New Zealand are safe from 'bank run' contagion

There has been a lot of talk about the risk of financial contagion following the collapse of California’s Silicon Valley Bank. Perhaps too much talk.

The Conversation

Swiss suspends bonus payouts to Credit Suisse staffers

Switzerland’s government says it’s ordering Credit Suisse to temporarily suspend bonuses for employees after orchestrating a plan for the No. 2 Swiss bank to be taken over by rival UBS

The Independent UK

Elite garda units team up with European cops for anti-terror exercise that started in Dublin

Officers from the National Surveillance and the Emergency Response units played a key role in exercise Firestorm, that involved officers from eight other countries, including Austria, Belgium, France, Germany, Luxembourg, the Netherlands, Switzerland and the United Kingdom

Dublin Live

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Elite Garda units take part in Europe-wide anti-terror exercise - that started in Dublin

Officers played a key role in exercise Firestorm, that involved officers from eight other countries, including Austria, Belgium, France, Germany, Luxembourg, the Netherlands, Switzerland and the United Kingdom

Irish Mirror

To prevent more bank runs, the Fed should pause rate hikes

Inflation is receding, albeit slowly, so there’s no reason to risk more financial tumult. Will the central bank see it that way?

The Guardian - US

Saudi National Bank Says Credit Suisse Crisis Has No Impact on Growth Plans

In light of the repercussions of the crisis experienced by the Credit Suisse Group, the second largest bank in Switzerland, which has been operating for 167 years, the Saudi National Bank announced on Monday that any change in the fair value of its investment in the Swiss group would not…

Asharq Al-Awsat

Yemen Govt, Houthis to Release 887 Prisoners in UN-mediated Agreement

The Yemeni government and Iran-backed Houthi militias 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. "It's an expression of hope. It's an expression of humanity and…

Asharq Al-Awsat

Giant bank deal triggers political backlash in Switzerland

Switzerland's two biggest political parties sharply criticized UBS's takeover of Credit Suisse saying multi-billion state support for the deal created enormous risks for the country.

Reuters

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

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

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Evening Standard

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

Reuters

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.

The Independent UK

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

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Chicago Sun-Times

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.

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.

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

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,…

The Independent UK

Near 'cliff's edge,' Credit Suisse not seen as systemic risk

Longtime troubles at Credit Suisse have come to a head this week with a record stock plunge that spread fears of a banking crisis jumping from the U.S. to Europe

Manchester Evening News

Man City handed tricky Champions League quarter-final and potential semi-final opponents

The draw for the Champions League quarter-finals and semi-finals took place in Switzerland on Friday morning.

Los Angeles Times

Nicholas Goldberg: Whose cheese is it anyway? The Swiss ponder the international politics of gruyere

Switzerland is a small country that is not known for too many things. It's got its cheese, its banks, its mountains, its neutrality, its watches, its pocketknives and its chocolate.

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