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Ulrich Körner acknowledges an ‘emotional and challenging week’ after deal was forced through by Swiss authoritiesBusiness live: latest coverageDeutsche Bank leads sell-off in European bank sharesThe chief executive of stricken Credit Suisse has said th…
German lender and and Switzerland’s UBS among those hit, while FTSE 100 dragged downBusiness live updates: banking sell-off intensifiesA sharp sell-off of European banking shares resumed on Friday as market jitters about the health of the sector refuse…
Investment banking roles expected to be worst hit at Credit Suisse in LondonBusiness live – latest updatesThe fate of thousands of jobs in London’s financial district is in doubt after the emergency merger of Swiss banks UBS and Credit Suisse.The two l…
Investors and banking industry analysts were still digesting the deal, but at least one analyst suggested it might tarnish Switzerland’s global banking image.
FTSE 100 rises and European banking shares are up after early jitters over what UBS takeover deal means for bondholdersWhat are AT1 bank bonds – and why are Credit Suisse’s wiped out?First Republic’s shares drop after downgraded credit ratingNils Pratl…
“This is no bailout,” said Karin Keller-Sutter, the Swiss finance minister, calling the deal a commercial solution to avoid bankruptcy and collateral damage.
Swiss president Alain Berset, who did not specify a value of the deal, called the announcement “one of great breadth for the stability of international finance.”
Swiss government forces through takeover at well below market value amid fears of global banking crisisMillions paid in bonuses to UK SVB staff days after £1 rescueBank runs, bailouts, rescues: are the ghosts of 2008 rising again?The Swiss government h…
Exclusive: Leak shows oligarch was a major client of Barclays in Monaco and UBS in Zurich, with at least $940m in assets held at the banksBarclays and UBS are facing questions about their ties to Roman Abramovich after his secretive offshore trusts wer…