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Credit Suisse Dumping Huge Archegos Blocks; Liquidating Millions In VIACS, VIPS And FTCH

Literally moments ago we said that the Archegos portoflio was being sold off all day on fears of “stealth” prime broker deleveraging, as tens of millions of shares were yet to be accounted for. Then, moments after 5pm, Credit Suisse – the firm that was hammered the hardest by the Archegos implosion and which had yet to provide a detailed breakdown of its Bill Hwang-linked P&L – confirmed what we said, when it unveiled a massive secondary offering dump, including...

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Electric cars – how much cleaner are they?

Are electric vehicles really more eco-friendly than other types of cars? The Swiss TV consumer magazine ‘Kassensturz’ used a new climate calculator to find the answers, comparing the carbon footprints of electric cars with those of other types over the entire lifespan of the vehicles. The tool was developed by the Touring Club Switzerland (TCS) automobile association.--- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to...

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My brother dug me out of an avalanche

Two skiers who were lucky to have survived an avalanche released this video as a warning to others. It shows in detail how one of them nearly died. They admitted having "misjudged" the risks. Lake and Forrest Schorderet, two freerider brothers, were hit as they were skiing in the mountains near Saint-Luc in the canton of Valais. At least 27 people lost their lives in the Swiss Alps this winter. swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC)....

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Anlagepolitik der SNB laut Studie wenig nachhaltig

Die Richtlinien und Massnahmen der Schweizerischen Nationalbank (SNB) für den Klimaschutz sind laut einer Studie der Londoner Nichtregierungsorganisation Positive Money im Vergleich zum Ausland eher dürftig ausgelegt. Der Vergleich der Klimaschutzanstrengungen verschiedener Zentralbanken zeige, dass die SNB im internationalen Vergleich der G20-Staaten lediglich 24 von 130 Punkten erreiche, heisst es in einem Communiqué vom Mittwoch. Damit lande die SNB auf dem...

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Swiss balance of payments and international investment position: 2020 and Q4 2020

Key developments in 2020 The current account surplus in 2020 was CHF 27 billion, down CHF 22 billion on the previous year. This decline was particularly due to the lower receipts surpluses in trade in goods and services. In the case of goods, the decline in receipts – with expenses remaining unchanged – caused the balance to decrease by CHF 11 billion to CHF 64 billion. While both receipts and expenses were substantially lower in the cyclically sensitive goods trade...

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Swiss-EU relations hang in the balance

Discussions between the EU and Switzerland over the future of their bilateral relations could be on the verge of collapse. Over 100 bilateral treaties set the terms of relations between the two. These need updating. A framework agreement has been hammered out over seven years but there are sticking points and the deal is under fire from across the Swiss political spectrum. --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on...

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Geldpolitik – Prognose: SNB-Zinserhöhung frühestens in zwei Jahren

Ungeachtet der jüngsten Abschwächung des Frankens dürfte die Schweizerische Nationalbank (SNB) am Donnerstag bei ihrer vierteljährlichen geldpolitischen Lagebeurteilung an ihrem Leitzins von minus 0,75 Prozent festhalten, prognostizieren alle 35 von Reuters befragte Wirtschaftsexperten. Auch die Sichteinlagen von Banken bei der Notenbank ab einem gewissen Freibetrag dürften weiterhin mit einer Gebühr von 0,75 Prozent belastet werden. “Die SNB dürfte es nicht eilig...

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A nightclub in an isolated Swiss town

Before Juliane and Nici opened Cult, young people in the eastern Swiss town of Scuol had to drive for miles – even across the border into Austria – for a bit of fun. “Scuol was a ghost town in terms of nightlife,” Juliane admits. As a result, local youngsters organised a petition saying there needed to be somewhere in Romansh-speaking Scuol where young people could meet and dance or just have a few drinks with friends. Parents were also supportive as the risk of...

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Gut gelaunte Finanzmärkte bescheren SNB einen Gewinn von 20,9 Mrd. Fr.

Bund und Kantone kommen in den Genuss einer auf 6 Mrd. Fr. erhöhten Ausschüttung. (Bild: Shutterstock.com/Marekusz) Auch wenn der Gewinn 2020 der SNB von 20,9 Mrd. Fr. nicht an den Vorjahreswert von 48,9 Mrd. Fr. heranreicht, ist es im historischen Vergleich ein überdurchschnittliches, ja sehr üppiges Resultat. Der Gewinn der SNB korreliert stark mit dem Verlauf an den Finanzmärkten, und deren freundlicher Verlauf trug der Nationalbank auch im vergangenen Jahr hohe...

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Swiss National Bank profits cut in half by Covid

The value of Switzerland’s foreign currency and gold positions rose during the pandemic as investors sought safe havens. Keystone / Martin Ruetschi The Swiss National Bank (SNB) recorded a profit of CHF20.9 billion (almost $23 billion) in 2020, less than half of the CHF48.9 billion it made in 2019. Some CHF6 billion of the profits will be distributed to the Swiss government and cantons, compared to CHF4 billion last year. The distribution of profits is regulated by...

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