Skip to content Skip to sidebar Skip to footer

UBS to buy Credit Suisse for nearly $3.25B USD by saikatsg

Banking giant UBS is buying troubled rival Credit Suisse for almost $3.25 billion, in a deal orchestrated by regulators in an effort to avoid further market-shaking turmoil in the global banking system.Swiss authorities pushed for UBS to take over its smaller rival after a plan for Credit Suisse to borrow up to 50 billion francs

ByHackTechMarch 20, 20230Comments

News

Credit Suisse writes down $17B of bonds, angering holders by mfiguiere

LONDON, March 19 (Reuters) – Credit Suisse has written down its Additional Tier 1 bonds to zero as part of its takeover by UBS, angering some bondholders who thought they would be better protected in a rescue deal announced on Sunday.The Swiss regulator and Credit Suisse said that the bonds, which are a riskier type

ByHackTechMarch 19, 20230Comments

News

Credit Suisse slides in Europe bank rout as SVB fallout grows by rntn

March 15 (Reuters) – European bank stocks slumped on Wednesday, with embattled Credit Suisse (CSGN.S) tumbling as much as 30% to another record low, on renewed investor concerns about stresses within the sector triggered by Silicon Valley Bank’s sudden collapse.Regulators and financial executives around the world have sought to assuage contagion fears after tech-focused lender

ByHackTechMarch 15, 20231Comment

Sign Up to Our Newsletter