switzerland
Attributed to Leonardo da Vinci, the Renaissance painting ‘Salvator Mundi’ (‘Saviour of the World’) became the priciest artwork ever sold at auction when it fetched $450 million (€406 million) at Christie’s in 2017. Since then, the oil painting depicting Jesus Christ has not been seen by the public. A new report by the BBC says that – despite rumours that it was being held on a yacht – the elusive work has been in storage in the Swiss city of Geneva since it was purchased by Saudi crown prince Mohammed bin Salman (MBS), and that it may soon be on the way to the Gulf. According to the report, M...
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Switzerland's largest bank UBS saw profits soar in its second quarter, up at $1.14bn (€1.04bn) and easily exceeding forecasts of $528m (€480m). Revenue was up by 15% at $6.053bn (€5.50bn), attributed mainly to its integration with one-time rival Credit Suisse. The results are the first since the formal merger was completed in May. UBS sets aside €800 million for investors hit by Greensill collapseUBS stock rises as banking giant launches €1.8bn share buybackGroup revenue for the April-June period also came in above forecasts at $11.904bn (€10.82bn) - analyst expectations were for $11.522bn (€1...
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The Swiss government has admitted to miscalculating its pension forecasts, meaning that the money spent on state payouts will be less than previously suggested. The 2033 deficit linked to so-called AHV state pensions will be around four billion Swiss francs (€4.2 billion), rather than the previously stated seven billion Swiss francs (€7.4 billion), officials confirmed on Tuesday. "During its control work, the BSV [Federal Social Insurance Office] discovered two mathematical formulas in the AHV financial perspectives calculation programme that led to implausible values for AHV expenditure in th...
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Switzerland and Germany are sending more than 100 used trams to Ukraine to help the embattled country improve its public transport. Tens of thousands of people have moved to the western city of Lviv since Russia’s invasion in 2022, placing more pressure on its transport network. Many of the new arrivals have been disabled by the war, and so have additional needs that Switzerland is helping to meet with accessible low-floor trams. Switzerland’s State Secretariat for Economic Affairs (SECO), is also sending dozens of the trams to Vinnytsia in central Ukraine. Why is Europe experiencing such extr...
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After Swiss singer Nemo won the 2024 Eurovision Song Contest in Mälmo, Sweden, fans from Geneva to Bern rejoiced – the contest would be coming to Switzerland in 2025, the first time since 1989. The cities of Zurich, Geneva, Bern and Basel have all filed applications to host next year’s show, but conservative Swiss groups have other ideas. A mere two months after Nemo – the first non-binary artist to win the contest – picked up the 2024 trophy, Swiss conservatives are threatening to block the use of taxpayers' money to host the event. The Christian conservative Federal Democratic Union of Switz...
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Austria and Switzerland are planning to invest €2.1 billion into flood protection on the Rhine river. An agreement was signed by both countries in May and has now been unanimously approved by the Austrian parliament. It is still awaiting approval from the Swiss government and could be subject to a referendum. The two countries will split the cost of the project equally with the Austrian federal government expecting total costs of around €1.1 billion by 2052. 21 minutes to evacuate: Experts predict Mediterranean tsunami with 100% probability‘We didn’t dare to dream’: Hope as Scottish wildcat ki...
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After extreme weather events in Switzerland that have left at least four people dead, the Alpine country might have become further imperilled by natural disasters, a member of its government said. “Are we going to experience one catastrophe after another every summer? Or is this an exception? Nobody knows. But certainly, the accumulation of such events worries us and shows how vulnerable we are,” Swiss Federal Council member Ignazio Cassis said on Sunday. At least three people were killed in a landslide in Maggia Valley, according to Swiss public broadcaster SRF, as local police found the body...
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At least four people were killed after extensive flooding and landslides caused by heavy storms struck Switzerland and northern Italy. The bodies of three people were recovered after a landslide in the Italian-speaking Swiss county of Ticino on the southern side of the Alps. Heavy rain had pounded the South and West of Switzerland throughout the weekend. Camping sites were evacuated, bridges collapsed, and one person is still missing in the Swiss Lavizzara valley. Further north, the Rhone river burst its banks in several areas within the Valais region. A motorway and railway line were both flo...
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Defending champions Italy aim to continue their dominance as they face Switzerland to reach the quarterfinals of Euro 2024. Switzerland have only eight wins from their previous 61 meetings against Italy. But they are still unbeaten this year and their only loss in 2023 came in the last game of qualifiers. Kickoff is at 18.00 at Berlin's Olympiastadion on Saturday. Italy have fond memories of playing in Berlin after beating France on penalties in the 2006 World Cup final. In the same stadium, they also defeated Austria 2-1 in the final of the 1936 Olympics. So far, Euro 2024 has been a tough ex...
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After heavy rainfall earlier this week caused severe flooding in Italy, the southern European country is now bracing for the return of high temperatures in what has been an extreme weather rollercoaster. The regions worst affected were Emilia Romagna, Liguria, southern Piedmont, Tuscany, Umbria and Marche. On Tuesday, streets and underpasses were flooded in Pistoia, northern Tuscany, while fire teams went out in dinghies around Parma to rescue stranded motorists. River levels around Modena and Piacenza were on red alert, and heavy snow cut off mountain refuges in Piedmont. The weather is impro...
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