Mercedes Ruehl

UBS to appeal court decision on Credit Suisse bond wipeout [FREE TO READ] Swiss bank says it has progressed in integrating Credit Suisse and achieved $10bn in cumulative cost savings

UBS will appeal a Swiss court decision that found a writedown of nearly SFr16.5bn in Credit Suisse bonds lacked a sufficient legal basis. on.ft.com/4qDcYV6

The Davos set in decline: can the World Economic Forum save itself? Battered by scandal, the Swiss organisation behind the annual summit faces a moment of crisis. Insiders say its future may depend on the success of next year’s meeting

Does the world still need Davos? www.ft.com/content/8f7d...

Denials and defiance: Nestlé chief’s exit over relationship prompts investor unrest [FREE TO READ] Shareholders turn on board over handling of CEO dismissal after chair Bulcke failed to heed earlier advice to fire Freixe

on.ft.com/4g7GjSv Denials and defiance: Nestlé chief’s exit over relationship prompts investor unrest

Switzerland celebrates hands-on democracy (with sausages) It has survived centuries but even this voting tradition is not immune to populist forces

Celebrating democracy in Switzerland with wurst and a show of hands

on.ft.com/3JkWlfn Switzerland celebrates hands-on democracy (with sausages)

Switzerland in ‘shock’ at 39% US tariff blow [FREE TO READ] New duty level on Swiss goods one of highest in the world and exceeds 31% rate outlined by Donald Trump in April

on.ft.com/45ftksS Switzerland in ‘shock’ at 39% US tariff blow

also, HT @matt-levine.bsky.social for one of my now favourite ever charts

www.bloomberg.com/opinion/news...

UBS FX Trades Were Too Good Also Sinovac, Daily Journal and an insurance correlation trade.

I will develop a plan to bring disciplined newsletter governance, proper capital allocation, strategic foresight and operational excellence to Money Stuff. www.bloomberg.com/opinion/news...

UBS orders bankers to scale back sale of complex currency products [FREE TO READ] Swiss bank tells advisers to stop pitching foreign exchange derivatives to many clients after losses

Be interesting to see if any heads will roll at UBS over this

on.ft.com/4mhC9t4 UBS orders bankers to scale back sale of complex currency products

Trump left a power vacuum at the UN. China saw an opportunity Beijing makes concerted effort to place officials and push its agenda in Geneva, say western diplomats

Scoop: After the US pullback, China is making a concerted effort to expand its influence throughout the UN. Story here with @henryjfoy.ft.com @lauramdubois.ft.com and Joe Leahy here:

www.ft.com/content/e289...

The Swiss solution looming into sight for UBS Switzerland’s pragmatic, slow-moving political system might benefit the bank in seeking compromise in debate over capital rules

The Swiss solution looming into sight for UBS - smart column here from @mjruehl.bsky.social Switzerland’s pragmatic, slow-moving political system might benefit the bank in seeking compromise in debate over capital rules www.ft.com/content/702f...

BCG earned more than $1mn for Gaza aid barge project Work with private US group Fogbow overlapped with start of separate effort to help Gaza Humanitarian Foundation

BCG earned more than $1mn for Gaza aid barge project https://on.ft.com/45097Zd

Switzerland stirs Brexit ghosts in push for EU access Referendum looms on single market deal that includes concessions on money, migration and judicial power

#Trade: #Switzerland stirs #Brexit ghosts in push for #EU access, by @mjruehl.bsky.social and @andybounds.bsky.social | Financial Times

Switzerland stirs Brexit ghosts in push for EU access Referendum looms on single market deal that includes concessions on money, migration and judicial power

From a very good piece by @andybounds.bsky.social and @mjruehl.bsky.social in today's FT on the EU-Swiss deal and the difficult road ahead:
www.ft.com/content/3200...

Inheritance tax referendum spooks Swiss super-rich Bankers and lawyers warn of exodus ahead of public vote on 50 per cent rate for the very wealthy

The other crucial part of this that gets lost is the proposed tax would also affect those running the thousands of small and medium sized businesses and entrepreneurial families spread across the country, many of which have their money entirely tied up in the business.

on.ft.com/4nd3rCb

Bankers and lawyers warn of a UK-style exodus ahead of an extreme proposed inheritance tax in Switzerland: this weekend’s FT front page

Can an ex-Goldman banker finally fix Julius Baer? The Swiss wealth manager’s new chief executive Stefan Bollinger takes on a troubled legacy — and Zurich’s establishment

As a teenage apprentice in Switzerland, Stefan Bollinger was told that with no university degree, his banking career was over. Now the former Goldman and JPMorgan banker has landed one of the top jobs in Swiss finance at Julius Baer. Can he turn it around?
www.ft.com/content/c4bc...

Swiss central bank cuts rates to zero Surge in value of Swiss franc amid US-driven trade war and lagging inflation has complicated policymaking

Switzerland's benchmark interest rate is a big fat zero

via @mjruehl.bsky.social in Zurich + me
www.ft.com/content/4282...

Finance blog raided over suspected Swiss banking secrecy law breaches [FREE TO READ] Investigation of Inside Paradeplatz raises concerns about ‘draconian’ rules

Investigative reporter Lukas Hässig did Switzerland a service in exposing corruption at the country’s second-largest banking group. Now the Swiss state is seeking to criminalise his journalism using Article 47 of the Swiss Banking Act, also known as the banking secrecy law. @mjruehl.bsky.social

A raid in Switzerland Plus, the potentially huge windfall for Warner Bros Discovery’s chief executive and mid-tier law firms in the UK bump up junior pay

And as always, an excellent take on this from the FT’s superb due diligence team here www.ft.com/content/1e38...

Finance blog raided over suspected Swiss banking secrecy law breaches Investigation of Inside Paradeplatz raises concerns about ‘draconian’ rules

The raid on a finance blog is a worrying sign for press freedom in Switzerland. The journalist in question doggedly uncovered a huge banking scandal and now may be punished under draconian Swiss secrecy laws.

on.ft.com/443SKZR Finance blog raided over suspected Swiss banking secrecy law breaches

@ftweekend.com Magazine @financialtimes.com

Always worth listening to @katie0martin.ft.com

on.ft.com/4kXL7eE Why we should worry about the rise of stablecoins

Christine Lagarde discussed leaving ECB early to head WEF, Klaus Schwab says [FREE TO READ] Ousted Davos founder says central bank chief has been in talks to leave before her term ends in 2027

💥 Christine Lagarde has discussed cutting short her term as European Central Bank president to become chair of the World Economic Forum, ousted WEF founder Klaus Schwab told @financialtimes.com

A bonafide marmalade-dropper from @mjruehl.bsky.social & @olafstorbeck.ft.com

on.ft.com/45sZ4fO

Austria's center right proposal to keep out the far right, via coalitional letting thousands flower bloom.

”For the centre left, there are rent controls and a levy on bank profits; for the liberals, there are public sector reforms, and for Stocker’s party, a tougher line on security and migration."

Thank you!

Austrian chancellor says EU asylum rules are no longer fit for purpose Christian Stocker adopts hardline policy in bid to bring ‘contentment’ to Austrian voters riled up by far right

FT INTERVIEW: EU asylum laws no longer correspond to their original intention says Austria’s chancellor.

on.ft.com/44O8YbK Austrian chancellor says EU asylum rules are no longer fit for purpose

Activist takes on Swatch maverick as Omega empire falters Nick Hayek has overseen a decade of decline at the watchmaker. Can he see off the threat to his grip on the group?

“In German we say beratungsresistent: resistant to advice. That is the essence of the problem . . . it is a sad story”

on.ft.com/44PfZJv Activist takes on Swatch maverick as Omega empire falters

Downfall in Davos: Klaus Schwab fights for legacy after WEF whistleblower claims Ousted head of World Economic Forum battles impropriety allegations and second probe into his conduct in a year

He “couldn’t let go — if these scandals hadn’t happened he would still be here”: the battle by World Economic Forum founder Klaus Schwab to save his legacy. With @stephenfoleyft.bsky.social

www.ft.com/content/011d...

Christine Lagarde under fire from unions over ECB workers’ rights Central bank wants elected staff representatives to spend more time in their day jobs

Two of Europe’s most powerful trade unions have accused European Central Bank president Christine Lagarde of undermining workers’ rights at the Frankfurt institution, escalating a long-running and bitter feud over labour relations. www.ft.com/content/423a...

Geneva fights to remain ‘kitchen’ of world diplomacy as Trump cuts bite US and European withdrawals force soul-searching in the city that is home to 450 international bodies

With global trade in disarray, autocracy on the march and aid organisations reeling from US funding cuts, Geneva fears for the future as a hub for diplomacy.

on.ft.com/44hhEan Geneva fights to remain ‘kitchen’ of world diplomacy as Trump cuts bite