GENEVA—The Swiss attorney general’s office says it has opened a probe into the events surrounding embattled bank Credit Suisse, which is to be taken over by rival UBS. Switzerland’s government and financial regulators helped engineer the hastily arranged, $3.25 billion agreement that was aimed in part to help calm worries about the global financial system […]
Swiss bank UBS is buying its former rival Credit Suisse in an emergency takeover. The collapse of Credit Suisse and recent turmoil in the banking sector has left the market on edge, fearing a repeat of the 2008 financial crash. NTD spoke to a financial consultant who says central banks want to get ahead of […]
Attorney Robert Costello gave unexpected testimony on March 20 in the New York hush money investigation of former President Donald Trump. Costello is a former legal adviser to Michael Cohen, Trump’s former lawyer. His testimony before a Manhattan grand jury is expected to discredit testimony given by Cohen. This comes after Trump stated on social […]
The emergency takeover of banking giant Credit Suisse has seen central banks racing to stabilise the sector. French President Emmanuel Macron has survived a no-confidence vote over his pension reform. Chinese leader Xi Jinping has arrived in Moscow for talks with President Vladimir Putin.
Credit Suisse shares dove 63 percent in early trading Monday to a new low after it was announced that UBS would buy the troubled bank in a multi-billion-dollar deal backstopped by a Swiss central bank $100 billion emergency credit line. Shares of Credit Suisse clawed back some of the initial losses Monday morning and at […]
Investment banking company UBS has agreed to purchase its rival Credit Suisse in a deal worth more than $3 billion after the Swiss government mediated the merger between the country’s two largest banks to avoid chaos in the financial markets before March 20. The announcement came after government officials had been scrambling for several days […]
Credit Suisse has taken Switzerland’s central bank up on its offer to borrow up to 50 billion Swiss Francs ($53.7 billion) after the Swiss National Bank (SNB) vowed to grant it a liquidity lifeline “if necessary.” In a statement, Credit Suisse said it was taking “decisive action to pre-emptively strengthen liquidity” after shares of the Swiss lender plunged by […]
Credit Suisse’s financial troubles echo through stock markets worldwide. Find out what caused the bank’s shares to tumble, and what’s being done to help. Another storm hit California earlier this week, causing more flooding and mudslides in the state. Thousands were evacuated and over 100,000 were left without power. A Chinese billionaire critical of the […]
The chairman of one of Europe’s largest banks is resigning. Why is he leaving, and how will it impact the bank? Walmart appears to be entering the metaverse, with plans to sell virtual products and create its own digital currency. Tesla is seeking to cut its reliance on China for a key component for batteries. Why […]
