The Swiss government will hold a news conference later after UBS made a takeover offer for embattled Credit Suisse, local media reports.
The possible emergency rescue comes after the authorities raced over the weekend to secure the rescue of the 167-year-old bank, which is among the world's largest wealth managers, in a move hoped to contain the industry's biggest crisis since 2008 and avoid global market turmoil.It follows reports Credit Suisse had been resisting an offer from its bigger rival of up to $1bn, believing it to be too low and that it would hurt shareholders and employees who hold deferred stock.
As one of 30 global banks seen as systemically important, any deal for Credit Suisse could have major repercussions forAs a last resort, Swiss authorities have reportedly considered a full or partial nationalisation of the bank.
RacistRoyalFamily
Any news on all those other Banks that have collapsed .. and is there any news on the ones currently circling the drain?
Fractional banking systems clearly don't work anymore.
ridge r4today PoliticsLive
Surely the Swiss government can put their Nazi gold horde to good use ?
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UBS in talks to acquire Credit Suisse\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t ⚡️ Problem is there are like several more banks that are going to need help. The big banks cannot step in for all of them . . . Missing words might be; Asked, forced, convinced, urged, advised.. What’s in CS for UBS other than overlapped business areas?
Source: FT - 🏆 113. / 51 Read more »
Source: BBCNews - 🏆 3. / 97 Read more »
UBS and regulators rush to seal Credit Suisse takeover deal\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t UBSuisse DebitSuisse So within 10 hours FT said that 1. UBS is buying CS 2. Blackrock is buying CS 3. Deutsche Bank is buying CS Oh and that FINMA is forcing UBS to merge with CS. Which one is it? High quality journalism
Source: FT - 🏆 113. / 51 Read more »
Source: SkyNews - 🏆 35. / 67 Read more »
UBS offers to buy Credit Suisse for up to $1bn\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t UBS against the clock in Credit Suisse takeover talks . $1 billion fraction of Friday’s closing price. Then again down 99% vs. 90% is not material. But SNB bypassing classic governance by not allowing UBS board to vote on merger is a whole new paradigm and sends a message that the authorities are able to change the rules at will. Shotgun marriages tend to end in ….. 😭
Source: FT - 🏆 113. / 51 Read more »
BlackRock assembles rival Credit Suisse takeover bid\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t 👀 Another exciting weekend 👀 BlackRock wants something...
Source: FT - 🏆 113. / 51 Read more »