Swiss finance minister says there are no obstacles for UBS and Credit Suisse
Swiss Finance Minister Karin Keller-Sutter has confirmed that UBS’s multi-billion state-sponsored takeover of Credit Suisse should proceed smoothly without any political obstructions. Credit Suisse’s rescue is a sure thing In an interview with the newspaper, Finanz und Wirtschaft, published on Saturday, Keller-Sutter stated that she does not see any stumbling blocks at the moment. The […]
UBS to reportedly lay off 20-30% of staff after Credit Suisse takeover
The collapse of banks such as UBS has had far-reaching repercussions in the financial world, with Credit Suisse being taken over by UBS in a bid to save the failing bank. 2023 saw the downfall of some prominent banking institutions, including Silicon Valley Bank, Signature Bank, and Silvergate Bank; this was coupled with the collapse […]
UBS CEO Ermotti plays down critics over forced merger with Credit Suisse
In an interview with Italian business daily Il Sole 24 Ore, incoming UBS Chief Executive Sergio Ermotti eased worries about the size of the new bank created by its takeover of Credit Suisse. While critics have voiced concern about the forced merger – designed to bolster global financial stability in a period of turmoil – […]
UBS sees shares plummeting after Credit Suisse bailout
UBS saw its shares plummet on Monday after its recent rescue of Credit Suisse raised concerns among investors about the long-term benefits of the deal. UBS agreed to buy Credit Suisse for 3 billion Swiss francs ($3.23 billion) and absorb up to $5.4 billion in losses, with the backing of Swiss authorities. The bank’s shares […]
Breaking: UBS and Credit Suisse reach deal after weekend negotiations
Credit Suisse has faced a tumultuous few weeks, with questions about its solvency. UBS has agreed to buy out Credit Suisse for over $2 billion. The finalized deal was reached following negotiations between UBS and Credit Suisse over the weekend. UBS and Credit Suisse deal UBS agreed to acquire Credit Suisse, increasing the offer to […]
UBS and Credit Suisse in merger talks—what will happen next?
UBS is reportedly negotiating to purchase all or parts of Credit Suisse. The separate boards of Switzerland’s two largest lenders will meet over the weekend as part of efforts by the Swiss National Bank and FINMA to bolster confidence in the country’s banking sector, sources familiar with the talks stated. On Friday evening, Swiss regulators […]
