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spi index rises 0.13 percent with notable stock performances in zurich

The SPI rose by 0.13% to 16,778.78 points on Friday, marking a weekly gain of 1.56% and an 8.12% increase since the start of 2025. Highlight Event and Entertainment led the gains with a 25% rise, while Leonteq saw the largest decline at -7.57%. UBS had the highest trading volume, and Roche maintained the largest market capitalization at €258.575 billion.

swiss central bank considers negative rates as ubs targets indian wealth market

The Swiss National Bank is contemplating negative interest rates to address potential economic volatility, signaling a strategic shift in its monetary policy. Concurrently, UBS is pursuing expansion in India's wealth management sector, aiming to capitalize on growth opportunities in emerging markets. This reflects a broader trend among Swiss companies, like Avolta AG and Meyer Burger Technology AG, focusing on global restructuring and efficiency.

Swiss stock market rises as Kühne Nagel and UBS lead gains

The Swiss stock market closed higher on Monday, with the SMI index surpassing 12,000 points for the first time since late October, despite a cautious trading environment ahead of Donald Trump's inauguration. Kühne + Nagel, Lonza, and UBS were among the top gainers, while Zurich and Schindler saw declines. The VSMI volatility index rose by 6.5%, indicating expectations of increased market fluctuations.

Gisèle Vlietstra resigns as president of Swiss investor protection association

Gisèle Vlietstra has resigned as president of the Swiss Investor Protection Association, with her signing authority transferred to board member Arik Röschke. The association, which advocates for transparency in Swiss companies, has not publicly acknowledged this leadership change, and Vlietstra's current residence is reportedly in Monaco, despite being listed elsewhere.

Meyer Burger Secures 40 Million Financing Amid Restructuring Efforts

Meyer Burger, a struggling Swiss solar company, has secured $39.48 million in bridge financing to stabilize its operations amid ongoing negotiations with its largest customer, Desri, following a contract termination. The financing, contingent on achieving specific milestones, aims to facilitate a sustainable restructuring solution by January 2025. The company has also appointed Alvarez & Marsal as a restructuring adviser to enhance operational efficiency.

China's Solar Dominance Drives Global Adoption of Clean Technologies

China's solar industry, with a capacity to produce 1,500 GW of solar panels annually, is significantly outpacing global demand and driving countries towards clean technologies. Meanwhile, Switzerland's solar sector, characterized by niche innovations, faces challenges due to government funding cuts and competition from cheaper Chinese imports, raising concerns about the future of local manufacturers like Meyer Burger. Despite these hurdles, the potential for photovoltaics as a major energy source remains strong, emphasizing the need for some manufacturing to stay in Europe for resilience against geopolitical risks.

swiss industry faces mass layoffs amid deepening economic crisis

Swiss industry faces significant challenges, with companies like Meyer Burger and Swiss Steel announcing substantial job cuts amid a downturn exacerbated by weak global demand, particularly from Germany. High grid fees and protectionist measures further strain the sector, prompting calls for government intervention to support struggling firms.

Trump nominates vaccine opponent as health secretary amid job cuts in Switzerland

US President-elect Donald Trump has nominated Robert F. Kennedy Jr., an anti-vaccination advocate, as Secretary of Health and Human Services, aiming to protect citizens from harmful chemicals and misinformation. In business news, Swiss Steel is cutting 800 jobs due to weak demand, while Meyer Burger faces potential collapse after losing its largest customer. German Chancellor Olaf Scholz urged Russian President Vladimir Putin to negotiate peace with Ukraine, condemning the ongoing conflict. Meanwhile, Zurich authorities dismissed managers for sexist and racist behavior in the cleaning service.

Meyer Burger faces crisis as major client terminates contract and shares plummet

Meyer Burger faces a critical situation as its largest client, Desri, has terminated their contract, leading to a 62% drop in share price. The company, struggling with financial losses and competition, is seeking to raise CHF 100 to 120 million while planning significant job cuts in Europe to focus on U.S. operations.

ubs group launches tokenized investment fund amid regulatory considerations in switzerland

Switzerland's Finance Minister is cautiously navigating the regulatory landscape as UBS Group AG launches its first tokenized investment fund, marking a significant move into digital finance. This initiative positions UBS at the forefront of fintech, appealing to tech-savvy investors while balancing innovation with financial stability. As UBS sets a potential global standard, other banks may follow suit, prompting investors to reassess strategies in the evolving digital asset market.
07:02 01.11.2024
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