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UBS customers reported being debited twice, with one individual stating they were charged 2900 francs instead of 1450 francs directly from their salary account. In the Lake Geneva region, rail traffic between Lausanne and Geneva is experiencing delays due to an incident affecting the Lausanne - Allaman line, particularly between Denges-Echandens and Lonay-Préverenges.
UBS showcases its rich history at its Zurich headquarters with the exhibition "Key Moments," reflecting on its evolution since the 19th century. Visitors can explore archival materials, thematic films, and significant speeches, highlighting the bank's role in Switzerland's economic development. The current UBS was formed in 1998 through the merger of the Union of Swiss Banks and the Swiss Bank Corporation, tracing its roots back to the mid-1800s.
The State Secretariat for Economic Affairs is investigating UBS's market power following its takeover of Credit Suisse, raising concerns about competition in the Swiss banking sector. The study will assess barriers to entry for competitors and the potential for price increases due to UBS's dominant position, particularly affecting corporate clients. The Competition Commission has warned that the merger could lead to noticeable price hikes, prompting close monitoring of UBS's practices.
Sergio Ermotti dominated Swiss media in 2024 with 4,755 mentions, significantly outpacing other business leaders. Despite a 29% drop from 2023, he remains the most prominent figure, while Thomas Jordan and Thomas Schlegel follow with 3,973 and 2,608 mentions, respectively. The media landscape also saw notable mentions related to the Benko scandal and political initiatives against the EU.
The Parliamentary Commission of Inquiry into Credit Suisse has concluded that senior management failed in their duties, prompting recommendations for stricter regulations on banks, including UBS. While UBS has adopted a more conservative approach post-takeover, concerns remain about potential future risks and the implicit state guarantees that could encourage reckless behavior. The effectiveness of new regulatory tools and the responsibility of systemically important banks towards the Swiss economy are critical for preventing future crises.
International tickets can now be purchased via the SBB app, simplifying the booking process for Swiss travelers. However, users may encounter issues with the Half-Fare Plus payment option and face higher prices due to outdated exchange rates, which are only adjusted sporadically.
On November 28, 2024, only 8% of new hires are over 55, despite three-quarters of companies being open to hiring older workers. A non-partisan alliance is pushing for 18 weeks of parental leave to promote equality and address skilled labor shortages. In Zurich, autonomous vehicles will soon supplement public transport, while a new HIV treatment offers lasting protection but comes at a high cost. The Öpfelchammer restaurant will reopen in January 2025, and Switzerland's women's national football team faces Germany in a challenging match on Friday.
Peter Spuhler, CEO of Stadler Rail, expressed mixed feelings at the unveiling of new Flirt trains amid a profit warning due to severe weather disruptions affecting production. He emphasized the need for Germany to regain its economic strength and voiced concerns over political instability, particularly regarding the upcoming elections and their impact on consumer sentiment. Spuhler remains hopeful for a positive change in leadership that could revitalize the economy, especially in the struggling automotive sector.
Support for highway expansion in Switzerland has dropped from 56% to 49% ahead of national referendums on November 24, with resistance growing particularly among urban and younger populations. In the U.S., Trump has appointed Fox News anchor Pete Hegseth as Secretary of Defense, while Elon Musk will lead a new Ministry of Government Efficiency. Meanwhile, climate researchers report a record high in global CO₂ emissions, and opposition mounts against a proposed nuclear waste repository in Zurich, with activists planning a referendum.
Former SBB manager Wolfgang Winter has been sentenced to three years in prison for fraud involving bogus companies and inflated sales to Elvetino. Meanwhile, Elon Musk reportedly maintains regular contact with Vladimir Putin, discussing various geopolitical issues. In sports, Swiss skier Lara Gut-Behrami has parted ways with her long-time sponsor Camille Bloch, while the PKK has claimed responsibility for a deadly attack in Ankara.
Swiss Federal Railways (Schweizerische Bundesbahnen)
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customers report double debits at UBS amid rail disruptions in Switzerland
18:20 26.03.2025
UBS exhibition highlights its historical role in Switzerland's economic development
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investigation into UBS market power and competition in swiss banking sector
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