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ABB's Peter Voser warns that new US car import tariffs could impact sales and supply chains, urging Europe to strengthen ties with Asia. UBS faces tensions with the Finance Minister over capital requirements, while Stadler Rail invests $70 million to expand its US operations. Migros reports a historic decline in cooperative membership, and Swiss Airlines aims for improved punctuality this summer amid record profits. Concerns about civilian protection in Switzerland highlight significant preparedness gaps in case of an attack.
Finance Minister Karin Keller-Sutter has countered UBS's allegations of a lack of dialogue, highlighting that she met with UBS management over six times in 2024 and has already held two discussions in 2025. The ongoing dispute centers on the future capital requirements for the bank, as UBS intensifies its lobbying efforts amid growing frustration with regulatory responses.
Karin Keller-Sutter's Department of Finance is at odds with UBS over capital requirements, following accusations from the bank that the government is unresponsive. Despite UBS's claims, Keller-Sutter's department reports multiple meetings with UBS leadership, focusing on the capital issue. The bank's aggressive lobbying has drawn mixed reactions from politicians and academics, highlighting the unique regulatory landscape in Switzerland.
The debate surrounding UBS's potential relocation is fueled by both bank lobbyists and critics, despite the complexities involved in such a move. UBS's management, under shareholder pressure, may be using threats of departure to influence regulatory leniency, but historical precedents suggest these threats lack credibility. Ultimately, UBS's reliance on Switzerland's stability, reputation, and strong currency underscores its commitment to remaining in the country.
UBS faces shareholder backlash as the Ethos association recommends rejecting the bank's remuneration, share buyback program, and sustainability report at the upcoming AGM. Ethos criticizes the high executive pay and potential for excessive risk-taking, while also highlighting gaps in UBS's sustainability commitments. The bank's management compensation for 2024 is said to reflect a performance-based approach, despite concerns over its alignment with current capital requirements.
Ethos, a foundation advocating for good corporate governance, urges UBS to prioritize replenishing its equity over high executive compensation and share buybacks. At the upcoming general meeting, it proposes rejecting the remuneration and sustainability report, citing excessive pay compared to peers and concerns over risk-taking behavior. Ethos emphasizes the need for a robust equity base to ensure long-term stability, criticizing UBS's recent sustainability efforts and lack of transparency in its climate strategy.
UBS is contemplating relocating its headquarters amid potential capital requirement increases of up to $40 billion, which could hinder its global competitiveness. CEO Sergio Ermotti emphasized that excessive regulations could penalize the bank's diversified operations and impact Switzerland's economy. The bank's commitment to a Swiss identity remains, but it faces challenges balancing local regulations with its international business strategy.
Ethos criticizes UBS for its high executive compensation, which it argues encourages excessive risk-taking, and advocates for replenishing equity instead of share buybacks. The foundation also highlights shortcomings in UBS's sustainability efforts, particularly regarding transparency and climate goals, urging a focus on long-term stability over short-term gains.
Ethos criticizes UBS for high executive compensation and share buybacks, urging the bank to focus on replenishing equity instead. The foundation highlights that UBS's CEO pay remains among the highest in Europe, which could encourage excessive risk-taking, and calls for improved sustainability transparency.
Ethos advocates for UBS to prioritize replenishing its equity over high executive compensation and share buybacks, criticizing the bank's leadership pay as excessive compared to peers. The foundation also highlights shortcomings in UBS's sustainability efforts and calls for greater transparency in its climate strategy.
Colm Kelleher
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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