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Business

61 articles

Apple Expands In Zurich-Altstetten As UBS Builds Technology Capacity In India
Business · Yesterday

Apple Expands In Zurich-Altstetten As UBS Builds Technology Capacity In India

UBS confirms that an “internationally active technology company” would take roughly 9,500 square metres in the building.
UBS Swiss Wealth Business Under Pressure As Senior Bankers Leave, Compliance Concerns Mount
Breaking News · Yesterday

UBS Swiss Wealth Business Under Pressure As Senior Bankers Leave, Compliance Concerns Mount

UBS has repeatedly emphasised global growth and integration since acquiring Credit Suisse, while its Swiss workforce has continued to shrink.
Rolex Reportedly Cleans House At Bucherer As Long-Serving Lucerne Staff Exit
Breaking News · Nov 2

Rolex Reportedly Cleans House At Bucherer As Long-Serving Lucerne Staff Exit

The reported allegations place Rolex CEO Guido Zumbühl at the centre of the scrutiny.
Rumours Suggest UBS Is Scouting Deutsche Bank CEO Christian Sewing For Top Job
Business · Oct 23

Rumours Suggest UBS Is Scouting Deutsche Bank CEO Christian Sewing For Top Job

UBS’s board had originally planned for Ermotti to hand over leadership at the end of this year, but that transition has not happened.
FINMA Approves Switzerland’s First Bitcoin ETF: What Industry Voices Say It Means
Breaking News · Oct 21

FINMA Approves Switzerland’s First Bitcoin ETF: What Industry Voices Say It Means

The Swiss regulator said that it granted an exemption from normal risk-diversification requirements because "Bitcoin has a long trading history and a particularly high trading volume compared with other cryptocurrencies."
UBS Begins Swiss Layoffs As It Shifts Technology Jobs To India And Poland
Breaking News · Oct 20

UBS Begins Swiss Layoffs As It Shifts Technology Jobs To India And Poland

Puneet Vyas, a UBS veteran based out of Pune India, will lead the global operational IT structure following the exits of former technology head Mike Dargan and infrastructure chief Paul McEwan.
Lindt & Sprüngli Fires CEO Adalbert Lechner As Chairman Ernst Tanner Faces Pressure
Business · Oct 19

Lindt & Sprüngli Fires CEO Adalbert Lechner As Chairman Ernst Tanner Faces Pressure

Recently, the Swiss chocolatier scaled back employee perks, including its popular annual ski weekend, but ruled out layoffs.

Migros Denies Report Of Imminent Merger Of Regional Cooperatives
Business · Oct 16

Migros Denies Report Of Imminent Merger Of Regional Cooperatives

Will chief executive Mario Irminger unveil a “New Migros” plan at an event in Zurich-Oerlikon on 27 October?
Zurich Keeps Its AAA Rating, But S&P Warns Debt Could Cost It
Breaking News · Oct 12

Zurich Keeps Its AAA Rating, But S&P Warns Debt Could Cost It

S&P Global Ratings has confirmed Zurich’s AAA long-term credit rating but changed its outlook to “negative,” citing rising deficits, heavy investment plans and political risk around spending cuts.
Viac And Neon Move Ahead As ZKB’s Frankly Stays Confined To Pillar 3a
Business · Oct 12

Viac And Neon Move Ahead As ZKB’s Frankly Stays Confined To Pillar 3a

Zürcher Kantonalbank’s digital pension app Frankly remains limited to retirement savings, while Viac and Neon now offer free investing alongside pension products. Speculation suggests a “Frankly Invest” launch may be coming, but ZKB will not confirm it.
Rolex Allocation Claims Linger As Bucherer Removes Head Of Its Central Lucerne Flagship Store
Business · Oct 10

Rolex Allocation Claims Linger As Bucherer Removes Head Of Its Central Lucerne Flagship Store

Unresolved Rolex allocation allegations hang over Bucherer as the head of its central Lucerne flagship store, Beat Schmid, leaves immediately after nearly a decade. The company has appointed tourism-sector newcomer Jessica Ternes amid reports of staff departures.
Switzerland Tops Global Innovation Ranking For A Seventh Straight Year
Business · Oct 9

Switzerland Tops Global Innovation Ranking For A Seventh Straight Year

The World Intellectual Property Organization (WIPO) again names Switzerland the world's most innovative economy. The same index shows weakness in patent filings and venture-capital deal counts.
Zurich’s “Stable” Jobless Rate Masks A 9.1% Rise In Unemployment
Business · Oct 7

Zurich’s “Stable” Jobless Rate Masks A 9.1% Rise In Unemployment

The City of Zurich recorded 8,225 unemployed people in September, while the number of registered job seekers rose by 11% year-on-year. Foreign nationals and men experienced the sharpest increases.
UBS Plans Large Job Cuts In November, With Senior Private Bankers Among Those At Risk
Business · Oct 7

UBS Plans Large Job Cuts In November, With Senior Private Bankers Among Those At Risk

The bank's costly senior private bankers over 50, who manage client books worth CHF 1 billion to 2 billion, are particularly at risk apparently.

UBS Faces Potential Reshaping As Switzerland Pushes Tougher Capital Rules
Breaking News · Oct 7

UBS Faces Potential Reshaping As Switzerland Pushes Tougher Capital Rules

Could UBS separate its Swiss businesses from its international operations?
Former UBS Technology Head Paul McEwen Joins Citi
Business · Oct 7

Former UBS Technology Head Paul McEwen Joins Citi

McEwen leaving the bank was already a news running in the Swiss circuits.
Zurich Ad Agency Wirz To Cut Jobs As Migros Reduces Work
Breaking News · Oct 1

Zurich Ad Agency Wirz To Cut Jobs As Migros Reduces Work

The agency says its long-standing client relationship will continue, but with less work. Wirz has not disclosed how many employees will be affected.
Lindt Chairman Ernst Tanner Under The Microscope After Sales Forecast Cut
Business · Sep 30

Lindt Chairman Ernst Tanner Under The Microscope After Sales Forecast Cut

"An unprecedented heatwave this summer additionally weighed on sales in Europe," said Lindt CEO Adalbert Lechner.
Does UBS Technology Executive’s Reported Exit Signal Tensions Over AI Strategy?
Breaking News · Sep 29

Does UBS Technology Executive’s Reported Exit Signal Tensions Over AI Strategy?

Is Paul McEwen leaving the bank as technology operations goes under Beatriz Martin’s leadership? UBS has not publicly confirmed the reason for his departure.
FINMA Finds Serious Failings At Julius Baer Over Benko-Linked Loans, Russian PEP Clients
Breaking News · Sep 29

FINMA Finds Serious Failings At Julius Baer Over Benko-Linked Loans, Russian PEP Clients

Swiss regulator says Julius Baer exposure exceeded CHF 1 billion and orders continued oversight despite closing its investigation.
UBS–Morgan Stanley Merger Talk Emerges After Swiss Capital-Rules Setback
Breaking News · Sep 25

UBS–Morgan Stanley Merger Talk Emerges After Swiss Capital-Rules Setback

Is UBS Senior Leadership Again Considering Options For Leaving Swiss Jurisdiction?
Zurich Tops Global Property-Bubble Risk Ranking As Housing Shortage Deepens
Business · Sep 25

Zurich Tops Global Property-Bubble Risk Ranking As Housing Shortage Deepens

Zurich and Tokyo are the only markets in the highest risk category.

Cembra Set To Move Headquarters From Zurich To Baden: No Job Cuts
Business · Sep 24

Cembra Set To Move Headquarters From Zurich To Baden: No Job Cuts

Cembra framed the move as part of longer-term workplace and space planning rather than a cost-cutting exercise.
UBS Faces Parliamentary Setback As Capital Rules Tighten
Business · Sep 24

UBS Faces Parliamentary Setback As Capital Rules Tighten

Ermotti’s campaign fails to shift vote as UBS suffers a clear setback.
Bitcoin Suisse’s Layoffs Turn Bitter: “Good Leavers” v/s “Bad Leavers”
Business · Sep 24

Bitcoin Suisse’s Layoffs Turn Bitter: “Good Leavers” v/s “Bad Leavers”

Group CEO Andrej Majcen has publicly framed the restructuring as "an offensive play rather than a defensive one."
Switzerland Raises 2026 Growth Forecast To 1.7%, Warns Of Iran-Linked Energy Risks
Business · Sep 23

Switzerland Raises 2026 Growth Forecast To 1.7%, Warns Of Iran-Linked Energy Risks

The Federal Council expects a further pickup in global demand in 2027, with the rest of Europe.
Swiss Re Shifts CorSo IT Jobs To India, Mexico And Slovakia As US And UK Cut Roles
Business · Sep 22

Swiss Re Shifts CorSo IT Jobs To India, Mexico And Slovakia As US And UK Cut Roles

Did Managing Director Florian Maurer accelerate the India/overseas outsourcing shortly before his own departure?
Sunrise Confirms 450 Job Cuts, Far Exceeding Earlier Speculation
Breaking News · Sep 22

Sunrise Confirms 450 Job Cuts, Far Exceeding Earlier Speculation

Sunrise cut 147 jobs already earlier this year.

PwC Switzerland To Halve Bonuses As AI And Weak Economy Squeeze Consulting
Breaking News · Sep 17

PwC Switzerland To Halve Bonuses As AI And Weak Economy Squeeze Consulting

PwC's Swiss bonus cuts follow similar cost-cutting moves across the Big Four and major consultancies over the past year.
All Regulators Clear Zurich-Beazley Deal; London Court Has Final Say
Business · Sep 16

All Regulators Clear Zurich-Beazley Deal; London Court Has Final Say

Zurich Insurance Clears Final Regulatory Hurdles, Set to Complete Beazley Takeover October 2026
Fresh Off A Data Breach, Revolut Applies For Swiss Banking Licence
Breaking News · Sep 16

Fresh Off A Data Breach, Revolut Applies For Swiss Banking Licence

"Revolut is already Switzerland's leading fintech," said Julian Biegmann, bank's GM for Switzerland.

Partners Group Shares Plunge As Profit Falls And CEO Steps Aside
Business · Sep 4

Partners Group Shares Plunge As Profit Falls And CEO Steps Aside

Partners Group now expects performance income to represent around 20%–25% of total revenue in 2026.
AI Could Cut Swiss Office Demand By 7.9%, Raiffeisen Says
Business · Sep 3

AI Could Cut Swiss Office Demand By 7.9%, Raiffeisen Says

The impact will depend on whether AI replaces employees or supports them.
Lindt & Sprüngli Protects Jobs By Cancelling Ski Weekend, Christmas Party
Business · Sep 2

Lindt & Sprüngli Protects Jobs By Cancelling Ski Weekend, Christmas Party

Crucially, Lindt explicitly stated that no operational layoffs are currently planned.
Data Leak Exposes 1320 UBS Employees Facing Layoffs
Breaking News · Sep 1

Data Leak Exposes 1320 UBS Employees Facing Layoffs

For the UBS staff whose data was exposed, the incident compounds an already difficult situation.
Vontobel Leaves Zurich After A Century, Consolidating 1500 Jobs In Baar
Business · Aug 31

Vontobel Leaves Zurich After A Century, Consolidating 1500 Jobs In Baar

Vontobel's relocation should force Zurich authorities to reconsider their tax and building regulations. 
Switzerland Job Cuts: Swiss Life Braces For Major Layoffs As McKinsey-Driven Overhaul Nears
Business · Aug 27

Switzerland Job Cuts: Swiss Life Braces For Major Layoffs As McKinsey-Driven Overhaul Nears

The company is using natural attrition to keep job losses "as low as possible," filling internal-service vacancies "very selectively" since the start of the year.
UBS Switches To Indian IT giant HCLTech, Putting Swiss Jobs At Risk
Business · Aug 27

UBS Switches To Indian IT giant HCLTech, Putting Swiss Jobs At Risk

The bank recently announced plans to create around 3,000 new IT jobs in Hyderabad, India, as it expands its technology footprint there.
Repair Costs For Parking Damage In Switzerland Jump By 45%
Business · Aug 27

Repair Costs For Parking Damage In Switzerland Jump By 45%

Replacement parts are also more expensive.
Zurich Insurance Denies Comment On Report Of 500 Jobs At Risk
Business · Aug 26

Zurich Insurance Denies Comment On Report Of 500 Jobs At Risk

The potential job reductions could take place at Zurich’s headquarters on Mythenquai in Zurich.
Switzerland Job Cuts: Raiffeisen To Cut Up To 180 Positions Despite Strong Growth
Breaking News · Aug 26

Switzerland Job Cuts: Raiffeisen To Cut Up To 180 Positions Despite Strong Growth

Despite Raiffeisen attracting CHF 3.3 billion in net new money into investment, the bank is making 180 positions redundant.

IWC Confirms 18 Job Cuts In Schaffhausen, Union Says Wider Layoffs Feared
Breaking News · Aug 26

IWC Confirms 18 Job Cuts In Schaffhausen, Union Says Wider Layoffs Feared

Allegedly CEO Christoph Grainger-Herr, who drives two expensive company vehicles, said that executive team members declined to accept pay reductions, and that IWC leadership intends to close stores in expensive locations.
UBS Ramps Up Bitcoin ETF Bet With 24-Fold Surge In Call Options
Business · Aug 24

UBS Ramps Up Bitcoin ETF Bet With 24-Fold Surge In Call Options

Notably, Bitcoin saw quite a rally in the last five days, from $65k all the way to $79k.
Switzerland Confirms Plan To Raise VAT By 0.5% To Fund Defence Spending
Breaking News · Aug 13

Switzerland Confirms Plan To Raise VAT By 0.5% To Fund Defence Spending

The funds are primarily intended to cover the extra costs associated with Patriot missile systems and the acquisition of US-made F-35 fighter jets.
What Is The Pierin Vincenz Case? Defence Seeks Dismissal As Zurich Appeal Trial Begins
Business · Aug 10

What Is The Pierin Vincenz Case? Defence Seeks Dismissal As Zurich Appeal Trial Begins

At the opening of the appeal, Vincenz’s lawyer asked the Zurich High Court to dismiss the case. Defence lawyers have also argued that some of the alleged offences are time-barred, an issue that could prevent the court from examining particular accusations.
UBS Hit With Record $125 Million US Fine Over Repeated AML Failures
Business · Aug 4

UBS Hit With Record $125 Million US Fine Over Repeated AML Failures

Is the bigger risk that regulators now see UBS as a repeat offender that had years to fix the problem and did not?
Who Gets Hit As US Rolls Out New Tariffs On Swiss Goods: Pharma Next In Line?
Business · Jul 27

Who Gets Hit As US Rolls Out New Tariffs On Swiss Goods: Pharma Next In Line?

The US is set to impose new tariffs under Section 232 on pharmaceutical products starting 31 July 2026.
Moment Of Truth For Markets As Inflation Bites: Raiffeisen Investment Outlook H2 2026
Business · Jul 8

Moment Of Truth For Markets As Inflation Bites: Raiffeisen Investment Outlook H2 2026

Given geopolitical and economic uncertainties, increased price fluctuations are expected in H2 2026.
Zurich Climbs To Second As Singapore Retains Top Spot For Luxury Spending
Breaking News · Jul 8

Zurich Climbs To Second As Singapore Retains Top Spot For Luxury Spending

For high-net-worth individuals, the cost of maintaining a premium standard of living has risen sharply.
UBS Shifts Front-Office Asset Management Roles To Krakow: A First For The Bank
Local · Jul 7

UBS Shifts Front-Office Asset Management Roles To Krakow: A First For The Bank

UBS has operated a major service hub in Krakow since the early 2010s, initially moving HR, IT and other support functions from Zurich to the Polish city.