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Swiss government intervention to save Credit Suisse from collapse last month may have avoided a financial market storm. But Switzerland’s solution to its latest bank crisis – a $3 billion state-blessed sale to crosstown bank rival UBS – nonetheless creates headaches across the Alpine nation’s economic and political landscape.
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Rivals are queueing up for a slice of UBS’s enlarged wealth management pie. A government-sponsored takeover of Credit Suisse should on paper allow Switzerland’s largest lender to boost its rich clients’ asset pot to a staggering $3.4 trillion. But new boss Sergio Ermotti should plan for a significantly smaller amount.
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Europe’s plan to support carbon-neutral fuels is good news for the $50 bln luxury carmaker, CEO Benedetto Vigna says on the Exchange podcast. It will allow the group to flog the roaring engines that made its fortune. Electric cars remain a goal, but self-driving Ferraris are not.
A surveillance system will also be put in place whereby even when an officer removes or switches off the camera they will still be known
Valentino Rossi è abituato a stupire e anche questa volta, in occasione del weekend del GP d’Italia di MotoGP sul circuito del Mugello, ha sorpreso tutti con ...