UBS Picks Beijing Over Citadel Securities for Credit Suisse Unit

-- UBS Group AG has agreed to sell the majority of its stake in Credit Suisse’s China venture to a Beijing-backed fund, dealing a blow to the ambitions of Ken Griffin’s Citadel Securities to expand in the world’s second-largest economy.Nvidia Sales Grow So Fast That Wall Street Can’t Keep UpCDK Hackers Want Millions in Ransom to End Car Dealership Outage

The announcement brings the months-long rivalry for Credit Suisse’s investment bank in China to an end, in which Citadel Securities had bid for the firm to help it build a local platform for its market-making capabilities. The sale is a consequence of UBS’s acquisition of its Swiss rival in an emergency rescue last year, which left it with two domestic brokerages in the country.

Before it collapsed last year, Credit Suisse had offered to buy out Founder’s 49% stake, valuing the entire firm at about 2.3 billion yuan .Canadian investors can consider holding dividend stocks and supplement their CPP and RRSP payouts in retirement. The post Here’s the Average RRSP Balance at Age 65 and 71 in Canada appeared first on The Motley Fool Canada.In this article, we are going to discuss the country that drinks the most alcohol per capita in 2024.

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