Swiss government

UBS set to carve up Credit Suisse after takeover day

UBS is set to finalise the takeover of Credit Suisse today, but the hardest part is yet to come: turning the arranged marriage of Switzerland's biggest banks into a success.

On June 5, the two Zurich-based banks announced that the merger should be completed on June 12.

A merger this complex could turn out to be a nightmare, particularly given how little time UBS has had.

Up to 30 pct of jobs may go in UBS-Credit Suisse merger: Reports

The merger between banks Credit Suisse and UBS could see up to 36,000 jobs being cut across the world, the SonntagsZeitung weekly reported yesterday.

The takeover by UBS of Credit Suisse was hastily arranged by the Swiss government on March 19 to prevent a global financial meltdown, following fears of contagion from the collapse of banks in the United States.

After nearly two centuries: Taken over

UBS also took up to $5.4 billion (about 5.05 billion euros) in losses, based on a plan by Swiss authorities to avoid further turmoil in the banking market.
The agreement also includes 108 billion dollars of aid (about 101 billion euros) for the liquidity of UBS and Credit Suisse, which will be paid by the Swiss Central Bank.

UN Committee: Switzerland Shouldn’t Deport Turkish Couple to Kosovo

The UN Committee Against Torture said in a decision that the Swiss government should not deport a Turkish couple who are alleged members of exiled cleric Fethullah Gulen's network to Kosovo because "they would face a real risk of being forcibly transferred to and subjected to torture in Turkey".

Swiss reject law to help country meet Paris carbon emissions goal

Swiss voters rejected a trio of environmental proposals on June 13, including a new law intended to help the country meet its goal for cutting carbon emissions under the Paris Agreement on Climate Change.

A new CO2 law was narrowly rejected, with 51.6% of voters opposing it in a nationwide referendum conducted under the country's system of direct democracy.

Latest on the coronavirus: Global cases pass 2.1 million

The number of confirmed coronavirus cases worldwide passed 2.15 million on April 17 as the pandemic swept across the globe.

Johns Hopkins University's website showed over 145,000 people have died from the virus.

The total number of people recovered from COVID-19 reached passed 548,000 according to the data.

Americas

Minister-delegate Ciamba welcomes Switzerland's decision to grant free movement to Romanian nationals as of June 1

Romania's Minister-delegate for European Affairs George Ciamba has welcomed a decision by the Swiss Federal Council to grant free movement to Romanian nationals as of June 1. "I welcome the decision by the Swiss Federal Council to grant free movement to Romanian nationals as of June 1, 2019. The safeguard clause limiting this right for Romanian and Bulgarian nationals is thus ending.

DSU's Arafat: Integrated dispatch to have major impact on improvement of reaction to emergency situations

The head of the Department for Emergency Situations (DSU), secretary of state Raed Arafat, on Tuesday stated in Constanta that a project is currently being developed to train dispatchers of the ambulance, emergency and firefighting services for a "fully integrated" dispatch system.

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