The move would undermine confidence in the country’s banking system, according to the former head of Deutsche Bank Former head of Deutsche Bank Josef Ackermann has warned Switzerland against confiscating Russian assets that have been frozen under EU sanctions, as the move would jeopardize investor confidence in the Swiss banking system.

The UK economy is not yet clear of difficulty, Chancellor of the Exchequer Jeremy Hunt warned on Friday, following the release of data showing the nation had narrowly avoided a recession. According to the Office for National Statistics, GDP showed zero growth in the final quarter of 2022, and a month-on-month decline of 0.5% in…

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