Bank
UBS rescues Credit Suisse in deal brokered by Swiss government
3 days ago | By NPR
Swiss bank Credit Suisse was purchased by a rival Swiss bank UBS today for roughly $3 billion in an emergency deal that likely saved Credit Suisse from going bust.
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Swiss banks announce historic takeover
3 days ago | By RT
Banking giant UBS has reached a deal to acquire its ailing rival Credit Suisse
UBS Group and Credit Suisse Group, two of the biggest names in European banking, are coming together in a government-brokered deal aimed at shoring up public confidence in the Western financial system and averting a global crisis.
UBS agreed on Sunday to pay 3 billion Swiss francs in stock to acquire its embattled rival in a takeover underpinned by government guarantees and 100 billion francs in liquidity assistance from Switzerland's central bank. The agreed price of 1 UBS share for each 22.48 shares of Credit...
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Credit Suisse failure follows years of scandal and mistrust-with an Ohio mattress company playing a role
3 days ago | By Fortune
“We've watched the bank lurch from scandal to scandal for so long that it's hard to recall all of them at this point.”
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APTOPIX Switzerland Credit Suisse
3 days ago | By Chron
A traffic light signals green in front of the logos of the Swiss banks Credit Suisse and UBS in Zurich, Switzerland, Sunday March 19, 2023.
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UBS on Credit Suisse takeover: ‘We will be de-risking a lot of the tricky businesses that we are inheriting'
3 days ago | By Fortune
"UBS intends to downsize Credit Suisse's investment banking business and align it with our conservative risk culture, said its chairman.
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Switzerland Credit Suisse UBS
3 days ago | By Chron
Axel Lehmann, Chairman Credit Suisse, left, sits beside Colm Kelleher, Chairman UBS, during a press conference in Bern, Switzerland, Sunday March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sunday's news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics.
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Switzerland Credit Suisse UBS
3 days ago | By Chron
An aerial view of the headquarters of the Swiss banks Credit Suisse, center, and UBS, left, at Paradeplatz in Zurich, Switzerland, Sunday March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sunday's news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics.
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Switzerland Credit Suisse UBS
3 days ago | By Chron
Colm Kelleher, Chairman UBS, attends a press conference in Bern, Switzerland, Sunday March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sunday's news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics.
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Switzerland Credit Suisse UBS
3 days ago | By Chron
Axel Lehmann, Chairman Credit Suisse, speaks during a press conference in Bern, Switzerland, Sunday March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sunday's news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics.
Read more ...
Switzerland Credit Suisse UBS
3 days ago | By Chron
Colm Kelleher, Chairman UBS, left, and Swiss Finance Minister Karin Keller-Sutter during a press conference in Bern, Switzerland, Sunday March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sunday's news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics.
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Credit Suisse's $17B of risky bonds now worthless after takeover by UBS
3 days ago | By Fortune
The deal will trigger a “complete write-down” of the bank's additional tier 1 bonds in order to increase core capital, said Swiss regulators.
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Two Swiss banking giants combine to quell growing global bank crisis
3 days ago | By Washington Post
UBS will take over beleaguered Credit Suisse, capping more than a week of speculation over the Swiss giant's fate.
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Alert: Swiss bank USB is acquiring smaller rival Credit Suisse for over $3 billion
3 days ago | By Chron
Swiss bank USB is acquiring smaller rival Credit Suisse for over $3 billion.
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Alert: Swiss president announces plan for Swiss bank UBS to take over troubled rival Credit Suisse
3 days ago | By Chron
Swiss president announces plan for Swiss bank UBS to take over troubled rival Credit Suisse.
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My Top 3 Investment Themes Right Now
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AM Best Affirms Credit Ratings of China Taiping Insurance Company Limited
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of “a” of China Taiping Insurance Company Limited. The ... Read more ...