Switzerland

Switzerland is seriously considering enlisting tennis legend Roger Federer or FIFA President Gianni Infantino as informal diplomatic channels to help resolve the crippling 39% tariffs imposed by the United States on Swiss goods last week. Swiss President Karin Keller-Sutter acknowledged the unconventional approach while maintaining that formal negotiations would remain government-led, and she expressed cautious hope that talks could be settled by October.

Switzerland-based UBS Group AG has begun implementing significant job cuts, slashing nearly 3,000 positions as part of its ongoing integration with Credit Suisse, according to sources familiar with the matter. The layoffs, reported by Bloomberg, affect employees across all levels, from senior management to junior staff, as the banking giant streamlines operations following its emergency takeover of Credit Suisse in 2023.