AGP Executive Report
Last update: 9 hours agoUBS: The bank reported third-quarter profit of $2.7 billion, up 8%, and is accelerating share buybacks. But its leadership is weighing a possible move abroad, raising concerns over Swiss jobs and the bank’s domestic footprint. Swiss Business: Landis+Gyr’s first-half revenue fell 6.3%, but margins and operating profit improved; a major contract added $509 million in orders after the period. Markets: Swiss shares hit a record high, while investors also weighed the early departure of ECB President Christine Lagarde, who will step down in February as energy costs revive inflation worries. Biotech: Molecular Partners plans to cut nearly half its workforce as it sharpens its focus on targeted radiotherapy. Technology and Finance: Swiss AI firms are pursuing a distinct path from US and Chinese giants, while FINMA approved the country’s first domestic retail Bitcoin ETF.
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