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UBS's potential departure from Zurich poses a significant risk to the city's tax revenue and job market, as banks contribute nearly 40% of corporate taxes. Despite the challenges faced by the banking sector, tax contributions from banks have risen steadily since 2020, highlighting Zurich's ongoing dependence on its financial center. The city's efforts to diversify its economy have had limited success, with major tech companies like Google paying most taxes in their home countries.
The documentary "Game Over - The Fall of Credit Suisse" premiered at the Blue Cinema Corso in Zurich, attracting over 600 guests, including Mayor Corine Mauch and other celebrities. The film explores the decline of the traditional Swiss bank, highlighting its significant impact on the financial landscape.
The documentary "Game Over - The Fall of Credit Suisse" premiered in Zurich, showcasing the bank's dramatic collapse. Directed by Simon Helbling and based on investigative work by Arthur Rutishauser, it features exclusive interviews and insider accounts, revealing the depths of a major financial scandal. The film will hit Swiss cinemas on March 27, 2025, accompanied by a book and a round-table discussion featuring notable figures from the banking sector on April 2, 2025.
Celebrities gathered at Zurich's Corso cinema for the premiere of "Game Over - The Fall of Credit Suisse," highlighting the ongoing impact of the bank's collapse three years ago. Author Arthur Rutishauser's work reveals that the downfall could have been averted, with a significant offer for CS's investment bank made prior to UBS's takeover. The film, set for release on March 27, paints a troubling picture of the banking sector's final days and the self-serving mentality that contributed to the crisis.
In 2024, the Swiss price watchdog processed over 800 cases, focusing on major internet platforms and UBS due to significant market power concerns. The agency will investigate pricing models in the digital sector and monitor UBS's adjustments following its merger with Credit Suisse.
Zurich has transformed from a banking hub to a vibrant tech center, attracting innovative companies while facing challenges like rising housing costs. Mayor Corine Mauch emphasizes the city's commitment to maintaining social diversity through active housing policies and increasing nonprofit housing. Despite the financial sector's evolution, banks remain crucial to Zurich's economy, with a focus on sustainability for future growth.
The housing shortage in Switzerland is exacerbated by strict noise legislation, which has hindered the construction of thousands of apartments. Recent amendments to the Environmental Protection Act aim to ease these restrictions, allowing for more flexibility in noise compliance for new buildings. However, significant challenges remain, and it may take years for the housing market to see substantial improvements.
Regina Bachmann, daughter of the late building contractor Leopold Bachmann, is facing backlash for evicting 200 tenants from the affordable "Sugus" houses in Zurich to maximize profits. The city government is considering purchasing the properties to support housing policy, raising concerns about taxpayer funds being used to benefit a wealthy heiress. Critics argue that the city's spending, including a budget of 500 million for land purchases, disproportionately impacts hardworking taxpayers while benefiting those who do not contribute equally.
Corine Mauch
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Zurich's financial dependency on banks raises concerns amid UBS speculation
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