Today’s FT big read: Can Switzerland adapt to a harder global order ? There is a perception that the country’s bearings are shifting. Yet Switzerland enters this turbulent period with formidable economic strengths. as.ft.com/r/17d3bbe3-5... Is Switzerland losing its place in the world?

UBS shares have climbed to their highest level in more than 17 years, buoyed by growing investor optimism that Swiss lawmakers will reach a compromise on proposals to impose tougher capital rules on the bank. as.ft.com/r/4bcf8118-6...

Swiss prosecutors have filed charges against Credit Suisse and its owner UBS over alleged organisational “deficiencies” linked to a roughly $7mn payment at the centre of the Mozambique $2bn “tuna bonds” scandal. on.ft.com/4osWdcP

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

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

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

Celebrating democracy in Switzerland with wurst and a show of hands on.ft.com/3JkWlfn Switzerland celebrates hands-on democracy (with sausages)

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

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...

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

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 - 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 https://on.ft.com/45097Zd

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

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...

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

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...

Switzerland's benchmark interest rate is a big fat zero via @mjruehl.bsky.social in Zurich + me www.ft.com/content/4282...

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

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 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."

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

“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

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...

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...

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

Labor on course to win second term in Australian election https://www.ft.com/content/0bd1f759-1193-4d61-a636-2f669a81f83b

Made the international basement with a story about Switzerland losing ground to Dubai with colleagues @mjruehl.bsky.social and Chloe Cornish on.ft.com/4iQFbT7

Swiss monetary policymakers are in a "staggeringly difficult" position following Trump's global trade turmoil. The rapid appreciation in the franc risks a deflationary shock for Switzerland. More here: www.ft.com/content/029e...

Swiss franc surge sparks bets on return to negative interest rates - rpt @emilydherbert.bsky.social @iankmsmith.ft.com @mjruehl.bsky.social. The Swiss currency has become a haven trade www.ft.com/content/029e...

My Trade Secrets today. Even a less chaotic US president than Trump would struggle to reorder the world trading system. Countries want tech transfer and export demand. The US is behind China on a lot of tech and won't do trade deals to increase market access. And Trump is making everything worse.

Davos man Klaus Schwab says he is the victim of a “character assassination” and denied all the claims against him. www.ft.com/content/85d1...

Ivorian opposition leader and former Credit Suisse chief executive Tidjane Thiam has said he will “use every legal means” to fight a ruling that has barred him from running for president later this year. on.ft.com/4jqMlyA

In 2023 this Swiss ski village didnt have a single US buyer. This year the number of Americans buying has exploded - especially the week of Trump’s tariff chaos. on.ft.com/3RVURtc The Swiss Alps ski village that is luring nervous Americans

The death toll from Russia’s Palm Sunday ballistic missile attack on Sumy is now 34 killed and 117 people injured, according to Zelensky and the state emergency service of Ukraine. 68 of those injured people are currently being treated in hospitals, with 8 in serious condition. on.ft.com/43MzEZW

A sign of the times : Swiss president and finance minister attends an EU ecofin meeting for the first time following Trump trade broadside on.ft.com/4llANxP Switzerland seeks closer EU ties in response to Trump shock

Austria is moving to tighten asylum laws by blocking relatives of refugees from joining them in the country — a policy shift that would be a first in the EU and could set a precedent for other member states considering stricter immigration policies. W/ @lauramdubois.ft.com on.ft.com/4jkg0ZC

Singapore warns end of free trade era ‘very hostile’ for small nations https://www.ft.com/content/31dc3980-ef69-4046-a255-f9d6b67a36a2

Protecting ‘Australianess’ in the Netflix age - why a 'Neighbours Tax' remains in development hell and faces an uphill task in the Trump trade war. on.ft.com/3FXHAh4 via @financialtimes

on.ft.com/41Zlbsr Swiss cheesemakers should hope there’s no ‘Liberation Day 2’ Great by @louisashworth.bsky.social

"What is essential now after the turmoil of the last months, is to recover our sense of mission." FT exclusive: Davos forum founder Klaus Schwab to step down as chair of trustees www.ft.com/content/347f...

Is this the end of Davos man Klaus Schwab ? on.ft.com/44baLal Davos forum founder Klaus Schwab to step down as chair of trustees

“This is not a negotiation”: Is UBS’s ‘deal of the century’ starting to sour? Story here with Simon Foy. www.ft.com/content/395c...

Fascinating insights here into the tussle between UBS and the Swiss govt over how much of a capital buffer the bank should hold following its takeover of Credit Suisse given the size of its balance sheet relative to the economy - by Simon Foy and @mjruehl.bsky.social www.ft.com/content/395c...

Americans rush for Swiss accounts: “Since the election there have been some anti-Trump clients and many are driven by fear” on.ft.com/4iXiOvK Wealthy Americans seek refuge from Donald Trump in Swiss banks

on.ft.com/4izKzuA Austria’s intelligence agency is investigating a Bulgarian national, linked to Wirecard fugitive Jan Marsalek, for alleged espionage and for abetting a Russian campaign to spread disinformation about Ukraine.

A new piece from me on why we should pay more attention to the EU’s recent deal with Switzerland. It could become a new model for partial integration into the single market – something that the EU has long resisted – and it also offers important lessons for the UK.