Switzerland (/ˈswɪtsərlənd/), officially the Swiss Confederation (Latin:Confoederatio Helvetica, hence its abbreviation CH), is a country in Europe. While still named the "Swiss Confederation" for historical reasons, modern Switzerland is a federaldirectorial republic consisting of 26cantons, with Bern as the seat of the federal authorities, called Bundesstadt ("federal city"). The country is situated in Western and Central Europe, and is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland is a landlocked country geographically divided between the Alps, the Swiss Plateau and the Jura, spanning an area of 41,285km2 (15,940sqmi). While the Alps occupy the greater part of the territory, the Swiss population of approximately 8 million people is concentrated mostly on the Plateau, where the largest cities are to be found: among them are the two global and economic centres, Zürich and Geneva.
TRENDING STORIESSee All ... One cause for market optimism was the reopening of the Suez Canal, one of the world’s most vital waterways, after a stuck cargo ship was freed. CreditSuisse has said that it “and a number of other banks" are exiting trades they made with a significant U.S.-based hedge fund, which defaulted on a “margin call" last week ... .
CreditSuisse... Credit Suisse slides after $20bn share fire sale ... Credit Suisse and Nomura have warned they face giant losses as some of the world’s biggest banks tally their exposure to defaults associated with hedge fund Archegos CapitalManagement ... Oil falls after Suez ship refloated ... Here is a video of the ship in motion.07.23 AM ... Credit Suisse.
Miland/Sydney — World shares started the week on cautious ground as uncertainty over the fallout of the default of a US hedge fund tempered relief from the refloating of the ship blocking the Suez Canal... There were more than 300 vessels waiting to pass through the shipping route, which accounts for 12% of global trade.
On Monday, though, the market’s spotlight was squarely on financial companies after Japanese bank Nomura Holdings and Swiss bankCreditSuisse said they’re facing potentially significant losses because of their dealings with a major client, though the exact magnitude is still unclear.
Advertisement ...Start Trading ... “FedEx reported the strongest February quarter in its history as a strong peak shipping season and higher prices led to a 23% increase in revenue ... Advertisement ... FedEx had its price target raised by CreditSuisseGroup to $351 from $350. The firm currently has an outperform rating on the shipping service provider’s stock.
U.S ... In the last four consecutive quarters, on average, the Memphis, Tennessee-based multinational delivery services company has delivered an earnings surprise of over 36% ... Advertisement ... FedEx had its price target trimmed by CreditSuisseGroup to $350 from $368. The firm currently has an outperform rating on the shipping service provider’s stock ... ....
The new iPhone 12 and iPhone 12 Pro on display ... That would push average selling prices higher ... at 35% of shipments. Last month, CreditSuisse analyst Matthew Cabral noted that an expansion of shipping times for the more premium models support his view that this generation will have a stronger high-end mix, though he was monitoring supply constraints ... .