Future of Credit Suisse hangs in the balance amid UBS takeover talks

All weekend, frantic negotiations have been taking place in Switzerland to deal with the troubled banking giant Credit Suisse. It is one hundred and sixty seven years old and has over a trillion dollars of assets under management, but it seems likely in the next few hours it will cease to exist, with reports of either a takeover, or possibly nationalisation.

Earlier this week, Switzerland’s central bank tried to prop up the bank with a forty-five-billion-pound rescue package but that doesn’t seem to have stopped customers withdrawing money and its share price sliding.We spoke with the Financial Times’ markets editor Katie Martin.

cathynewman Well, Fishy Rishi isn't selling Derivatives this time.

cathynewman Some of your more naive viewers will be wondering why a generously proportioned lady shouldn't be in banking.

cathynewman Problem today is if there were a run on the banks there may not be queues at the few branches remaining, but a surge in online transfers, which the little people will learn of too late? Where the electronic money goes is anybody’s guess?

pwsimerimiaw cathynewman … until RishiSunak’s reforms kick in 😞

cathynewman I seriously doubt that.

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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 »

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 »

Credit Suisse bank: UBS said to be in takeover talks with troubled rivalEmergency talks are reported in Zurich as regulators seek a deal for Credit Suisse before Monday. Am I sensing a loss of scruples? How many banks have been operating on sketchy + risky levels?
Source: BBCNews - 🏆 3. / 97 Read more »

UK regulators back merger of banking giants Credit Suisse and UBSThe Bank of England has told its Swiss counterpart and the country's two biggest banks that it will not object to an emergency merger, Sky News understands. Of course they have .. they're trying to stave of a total collapse of the banking system. PEOWWWW $EURUSD ROCKET TIME, back on course for short term top test. All planned, all this shit. Exactly 👇
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 »

Swiss government to hold news conference on Credit Suisse after UBS takeover offer - reportsThe possible emergency rescue comes after the authorities raced over the weekend to secure the rescue of the 167-year-old bank, in a move hoped to contain the industry's biggest crisis since 2008 and avoid global market turmoil. Surely the Swiss government can put their Nazi gold horde to good use ? ridge r4today PoliticsLive Fractional banking systems clearly don't work anymore.
Source: SkyNews - 🏆 35. / 67 Read more »