Industrial producers are more worried about a deficit of electricity than natural gas, a survey published Tuesday by the bank, Credit Suisse showed. Half of the firms polled are preparing for power outages while only a third are bracing for a lack of gas.
Amid the rising energy risk, a purchasing managers’ index among Swiss manufacturers dropped 2.2 points to 54.9 in October. That’s below the 55.9 reading forecast by economists but above the 50 threshold that separates growth from contraction.
The most popular step companies are taking to secure energy supplies is curbing consumption, followed by acquiring emergency generators or batteries. Other measures include installing solar panels.
Meanwhile, Credit Suisse chairman Axel Lehmann says the planned capital increase will make the lender “rock solid”, while dismissing rumours of a takeover.
In an interview with Bloomberg TV in Hong Kong, he said that the bank wanted to stay independent.
The bank aims to become a wealth management-centric franchise, centered around entrepreneurs, wealthy clients, the chairman said, adding that it wants to grow in Latin America, Asia Pacific and Middle East markets.
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The energy crisis is about to make your Swiss ski holiday more expensive
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Swiss hotels, holiday apartments and ski passes look set to be more expensive this winter, largely due higher energy prices.
Report: Switzerland should get through winter without power restrictions
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While Switzerland still faces an energy crunch, it should get through winter with enough power, a new study reportedly shows.
Energy crisis ‘will last many years’, says economics minister
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Guy Parmelin says it is important not only to think about the winter, but to do everything to ensure that Switzerland produces more energy.
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