The head of the troubled Swiss bank, Credit Suisse, says very few Swiss clients have closed their accounts – although the bank does say globally there has been a significant outflow of funds.
The CEO, André Helfenstein, told the press yesterday only around 1% of Swiss assets have been lost.
He says the bank’s Swiss business is profitable – making CHF 1.2 bn in the first nine months of the year.
But across its entire operations, the bank has issued a profit warning for the end of the year.
Geneva blindsided by car tax chaos
The Geneva government has been blindsided by the effect of the new car tax and are now scrabbling to explain why.
Govt backs foie gras
The Federal Council has come down firmly on the issue of foie gras.
Fairmont to close for 3 yrs
The Geneva luxury Fairmont Hotel on the Quai Wilson will close its doors for renovation next month. The work could last for up to three years.
Long term plans for atom waste dump
The time frames are immense – but plans have been revealed on a new nuclear waste storage site, which, by law, has to be viable for a million years.
A12 closed after snow triggering crash
A section of the A12 autoroute running between Vevey and Châtel-St-Denis was closed over night following a multicar pile up, caused by the snow.
Woman seeks life saving savior
A young woman in Geneva has launched a search for the woman who saved her life when she was swept away by the Rhone last spring.
