Yesterday the stock markets went into panic mode with many banks losing value, none more than Credit Suisse, who shares at one point lost close to 30% of their value. Now the Swiss National Bank has stepped in pledging 50 billion francs to help the bank if need be, no doubt hoping to stem the flow of clients leaving the bank.
Meanwhile the canton of Lucerne is facing a fifth year of surplus revenue, earning 200 million francs more than budgeted, mainly in tax revenue.
SBB is back on track with the number of passengers surpassing those in 2019 by slightly more than 5%.
Things at the FC Lucerne continue to be in turmoil with the whole salesteam resigning, leaving many contracts with potential sponsors unfinished. The main sponsor, who is having an ongoing legal battle with the club’s management, has threatened to kick the football team out of the Swissporarena which is named after their company.
The Blue Balls Festival is no more, but a new festival will take its place. Called “Luzern Live Festival”, this year’s edition already has 50 bands lined up to play between July 20. and 29. The full programme will be revealed at the end of this month.