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The EU Court has upheld a €172.3 million fine on UBS for its role in a cartel involving the trading of European government bonds, alongside six other banks. While fines for Unicredit and Nomura were slightly reduced, the court confirmed the serious anticompetitive behavior of the banks during a financial crisis. In other news, Google's AI feature is now available in Switzerland, and a 30-employee firm has shut down due to a computer disaster. Additionally, the Federal Court annulled the election of Senator Simon Stocker due to residency issues.
The director of the documentary "Game Over - The Collapse of Credit Suisse," Simon Helbling, revealed he faced significant pressure to not produce the film, which explores the bank's troubled history, including its U.S. expansion and eventual demise. The film highlights critical events, including the 1977 Chiasso scandal and the bank's costly decisions leading to its collapse, ultimately taken over by UBS in 2023. Meanwhile, the EU General Court confirmed a €172 million fine against UBS for cartel activities, and the Federal Court annulled the election of Senator Simon Stocker due to residency issues.
Simon Stocker
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eu court upholds 172 million fine on ub s for cartel activities
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14:25 26.03.2025
credit suisse documentary reveals pressure and insights into banking collapse
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14:23 26.03.2025
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