Swiss bank Credit Suisse has sold its stake in a Spanish digital wealth platform as part of a strategic overhaul aimed at reviving its ailing fortunes.
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Credit Suisse vende su participación en plataforma española Allfunds
Credit Suisse took a stake in Allfunds in 2019, merging its InvestLab unit with the fintech to create a €500 billion digital funds distribution platform.
But the Swiss bank has since floundered amid a myriad of legal issues and huge market losses. New CEO Ulrich Körner has been charged with reviving the bank’s fortunes with a strategic re-think.
Credit Suisse has achieved one legal victory after a United States court cleared the bank of rigging prices in the foreign exchange markets.
The jury has cleared the bank of allegations of market fixing between 2007 and 2013.
“Credit Suisse is extremely pleased that the jury agreed with us that plaintiffs’ case had no merit,” the bank said in a statement on Friday.
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Credit Suisse prepares Swiss business sales to raise capital
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Credit Suisse is preparing to sell parts of its Swiss domestic bank as it attempts to close a capital hole of around CHF4.5 billion.
Basel diocese files five claims of sexual abuse in Swiss Catholic Church
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The diocese of Basel has received 141 reports of sexual abuse since the publication of a sweeping study on violations in the Catholic Church by the University of Zurich in 2023.
Swiss president calls for open markets and stable institutions in WEF speech
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Swiss President Karin Keller-Sutter was among speakers at the WEF in Davos to make the case for fair competition, a day after Donald Trump became the 47th president of the United States.
Swiss film in competition at the 75th Berlinale has a shot at Golden Bear
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The feature film La Cache by Lausanne screenwriter and director Lionel Baier has a chance of winning the Silver or Golden Bear at the 75th Berlinale, festival organisers said on Tuesday.
Swiss politician who shot at image of Jesus resigns from Liberal Green Party
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Sanija Ameti, who caused controversy after shooting at an image of Jesus and Mary last September, has resigned from the Liberal Green Party.
Swiss campaigners gather enough signatures to submit ‘responsible business’ initiative
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The Swiss people are set to vote again on the corporate responsibility of multinationals after campaigners collected 183,661 signatures in 14 days for their new 'responsible business' initiative.
Several Swiss municipalities and banks hit by cyberattack
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Russian hackers attacked the websites of several Swiss municipalities and banks on Tuesday, just as the World Economic Forum (WEF), got under way in Davos.
Music strengthens brain connections in premature babies, Swiss study shows
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In premature babies, music strengthens connections in certain areas of the brain, according to a years-long study by the University Hospitals of Geneva (HUG).
WEF gives Crystal Award to Beckham, Yamamoto and von Fürstenberg
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The World Economic Forum in Davos handed out awards to UNICEF ambassador David Beckham, Japanese architect Riken Yamamoto and women's rights activist Diane von Fürstenberg.
Swiss CEOs betting on a strong domestic market in 2025
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Swiss business leaders are optimistic about 2025, despite a world in crisis, says a new survey by Pricewaterhouse Coopers.
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Economics Minister Guy Parmelin and Foreign Minister Ignazio Cassis have welcomed Chinese Vice Premier Ding Xuexiang to Bern
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Credit Suisse prepares Swiss business sales to raise capital
This content was published on
Credit Suisse is preparing to sell parts of its Swiss domestic bank as it attempts to close a capital hole of around CHF4.5 billion.
Credit Suisse pays $495 million to settle legacy case
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Credit Suisse has agreed to pay $495 million to settle a case linked to its residential mortgage-backed security (RMBS) business.
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