UBS chief Sergio Ermotti has repeated his warning that the bank could leave Switzerland, telling Bloomberg that a Swiss passport is no longer enough to keep the bank here
Two major shareholders, Artisan Partners and Cevian, are openly pushing UBS to look abroad, with some insiders floating a possible merger with Morgan Stanley or another US giant.
This follows last month's Council of States vote to force UBS to cover 90% of its foreign subsidiaries with capital, up from around 45%.
Vaud's tallest building now open
The Tilia Tower, Vaud's tallest residential building at 85 metres, has officially opened in Prilly's Malley district
SBB app update
SBB has updated its mobile app with four new features aimed at daily commuters and expat travellers
Lausanne benefit for Crans Montana fire victim
The Alix Perroud Foundation hosted a benefit evening at the Olympic Museum in Lausanne last night, in memory of a young woman who died in the Crans-Montana fire
Lagarde soon to exit the ECB
Christine Lagarde will leave the European Central Bank in early February next year, nine months before her mandate ends, the ECB announced on yesterday
Swiss office reopened in North Korea
Switzerland reopened its diplomatic office in Pyongyang yesterday — the first visit by a Federal Councillor to North Korea in more than twenty years
UBS leaving Switzerland would have negative effect
Geneva's financial sector is warning that losing UBS would be bad for Switzerland, even as its banks post strong growth driven by Middle Eastern fortunes
