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Helvetia is restructuring its sales organization, appointing Simon Weiner as the new Head of Sales Union Switzerland, effective early 2025. He will succeed Ralph Jeitziner, who is retiring on April 30, 2026, after 29 years in leadership roles within the company. Weiner, currently Head of Sales Region Central, will also join the Executive Board, focusing on consolidating sales channels for improved customer satisfaction.
UBS's new residential attractiveness indicator reveals that medium-sized centers like Locarno and Vevey are ideal for families with a gross income of CHF 145,000, due to better infrastructure and lower housing costs. In contrast, high-cost urban areas are less accessible for families with below-average incomes, pushing them towards more affordable locations outside city centers.
Ubs is selling its 50 percent stake in Swisscard, held by Credit Suisse, to American Express, which will then become the sole owner. Credit Suisse customers will transition to Ubs' credit card platform, while Swisscard will continue to issue cards under American Express, Mastercard, and Visa licenses, ensuring no immediate impact on cardholders or partners.
Glarner Kantonalbank shares rose 3.79% in October, currently priced at EUR 23.30, which is 52.79% above its 52-week low, despite a year-on-year decline of 5.28%. The bank plans to distribute a dividend of EUR 1.10 per share for 2024, offering a 5.09% yield, while maintaining a P/E ratio of 12.10. Recent analyses suggest shareholders may need to consider their positions carefully.
UBS is selling its 50% stake in Swisscard to American Express, making Amex the sole owner of the credit card provider. This divestment follows UBS's acquisition of Credit Suisse, from which it inherited the stake. Swisscard will continue to issue cards from American Express, Mastercard, and Visa, with no impact on current cardholders.
Stahl Gerlafingen, Switzerland's oldest steelworks, faces potential closure amid financial struggles, including a CHF 300-400 million drop in turnover and high electricity costs. Over 400 employees rallied for federal support, as local and national politicians unite to advocate for the plant's survival, emphasizing its systemic importance and climate-friendly practices.
UBS has sold its 50% stake in Swisscard to American Express, marking a strategic move to restructure its business following the acquisition of Credit Suisse. This transaction will result in Swisscard becoming wholly owned by American Express, with UBS ending its involvement in the joint venture. Financial details remain confidential, and no changes to Swisscard's operations have been announced.
UBS has sold its 50% stake in Swisscard to American Express, marking the end of its involvement in the joint venture. This decision follows UBS's acquisition of Credit Suisse assets and reflects its strategy to reshape its business portfolio. Financial details of the transaction remain undisclosed, and there are no announced changes to Swisscard's operations.
American Express will acquire UBS's 50% stake in Swisscard Zurich, becoming the sole owner. The transfer of Credit Suisse-branded cards to UBS will not affect the existing card portfolios, and customers will be informed about the transition to new cards in 2025. Swisscard continues to operate under American Express, Mastercard, and Visa licenses, with no immediate impact on cardholders or merchants.
Switzerland excels in global rankings for quality of life, education, and business environment, with Zurich recognized as one of the most liveable cities. Despite high salaries and a strong economy, challenges like expensive housing and social integration persist, impacting its appeal to foreign professionals. Additionally, the country faces criticism for its climate policy and issues related to corruption and democracy.

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