let s now get down to business and the drama that let s now get down to business and the drama that has let s now get down to business and the drama that has been unfolding over the weekend in switzerland is dominating once again. they ve had fraught negotiations as the authorities, the central bank and leaders of two of its biggest banks tried to reach a deal to prevent another damaging financial crisis. late on sunday it was announced. the troubled bank credit suisse has been taken over by its rival ubs in a government backed rescue worth over $3.1 billion. that s less than half the value of credit suisse at the close of trade on friday. the deal s been widely welcomed, including by the bank of england, the european central bank and in the us. switzerland s central bank wanted to prioritise financial stability and protect the swiss economy. here s the chief executive of ubs. translation: it means we bring back stability translation: it means we bring back stability and
Swiss franc climbs to 4-month high Swiss GDP rises 0.3% US ISM Manufacturing PMI expected to rise slightly The Swiss franc is lower on Friday. In the E
European stocks closed on a bright note on Friday, buoyed by easing inflation in the U.S. and Eurozone, encouraging manufacturing data from the Eurozone and the U.
Swiss GDP stagnates in Q2 Manufacturing, exports decline The Swiss franc is in negative territory on Tuesday. In the European session, USD/CHF is trading
Corrects third para The Swiss economy remained stagnant in the second quarter after rebounding in the previous quarter as the rise in private consumption was offset by a decline in investments, data from the State Secretariat for Economic Affairs, or SECO, reported on Monday.