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Business Mag Search: Banks
Credit Suisse failure follows years of scandal and mistrust-with an Ohio mattress company playing a role
3 days ago - By Fortune
“We've watched the bank lurch from scandal to scandal for so long that it's hard to recall all of them at this point.”
Read more ...Swiss banks agree on historic takeover
3 days ago - By RT
Banking giant UBS has reached a deal to acquire its ailing rival Credit Suisse
UBS Group and Credit Suisse Group, two of the biggest names in European banking, are coming together in a government-brokered deal aimed at shoring up public confidence in the Western financial system and averting a global crisis.
UBS agreed on Sunday to pay 3 billion Swiss francs in stock to acquire its embattled rival in a takeover underpinned by government guarantees and 100 billion francs in liquidity assistance from Switzerland's central bank. The agreed price of 1 UBS share for each 22.48 shares of Credit...
Read more ...APTOPIX Switzerland Credit Suisse
3 days ago - By Chron
A traffic light signals green in front of the logos of the Swiss banks Credit Suisse and UBS in Zurich, Switzerland, Sunday March 19, 2023.
Read more ...UBS rescues Credit Suisse in deal brokered by Swiss government
3 days ago - By NPR
Swiss bank Credit Suisse was purchased by a rival Swiss bank UBS today for roughly $3 billion in an emergency deal that likely saved Credit Suisse from going bust.
Read more ...UBS on Credit Suisse takeover: ‘We will be de-risking a lot of the tricky businesses that we are inheriting'
3 days ago - By Fortune
"UBS intends to downsize Credit Suisse's investment banking business and align it with our conservative risk culture, said its chairman.
Read more ...Switzerland Credit Suisse UBS
3 days ago - By Chron
Axel Lehmann, Chairman Credit Suisse, left, sits beside Colm Kelleher, Chairman UBS, during a press conference in Bern, Switzerland, Sunday March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sunday's news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics.
Read more ...Switzerland Credit Suisse UBS
3 days ago - By Chron
An aerial view of the headquarters of the Swiss banks Credit Suisse, center, and UBS, left, at Paradeplatz in Zurich, Switzerland, Sunday March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sunday's news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics.
Read more ...Switzerland Credit Suisse UBS
3 days ago - By Chron
Colm Kelleher, Chairman UBS, attends a press conference in Bern, Switzerland, Sunday March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sunday's news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics.
Read more ...Switzerland Credit Suisse UBS
3 days ago - By Chron
Axel Lehmann, Chairman Credit Suisse, speaks during a press conference in Bern, Switzerland, Sunday March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sunday's news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics.
Read more ...Switzerland Credit Suisse UBS
3 days ago - By Chron
Colm Kelleher, Chairman UBS, left, and Swiss Finance Minister Karin Keller-Sutter during a press conference in Bern, Switzerland, Sunday March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sunday's news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics.
Read more ...Credit Suisse's $17B of risky bonds now worthless after takeover by UBS
3 days ago - By Fortune
The deal will trigger a “complete write-down” of the bank's additional tier 1 bonds in order to increase core capital, said Swiss regulators.
Read more ...Alert: Swiss bank USB is acquiring smaller rival Credit Suisse for over $3 billion
3 days ago - By Chron
Swiss bank USB is acquiring smaller rival Credit Suisse for over $3 billion.
Read more ...Two Swiss banking giants combine to quell growing global bank crisis
3 days ago - By Washington Post
UBS takes over Credit Suisse
Read more ...UBS to buy troubled Credit Suisse in deal brokered by Swiss government
3 days ago - By NPR
UBS will buy rival Credit Suisse in a deal brokered by Swiss officials to try and prevent a banking crisis. (Image credit: Igor Golovniov/SOPA Images/LightRocket via Getty Images)
Read more ...Alert: Swiss president announces plan for Swiss bank UBS to take over troubled rival Credit Suisse
3 days ago - By Chron
Swiss president announces plan for Swiss bank UBS to take over troubled rival Credit Suisse.
Read more ...
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SØVN Modern sleep tracking study
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Bank of England to Weigh a Rate Increase After a Jump in Inflation
As policymakers assess an inflation rate that persists in double digits, as well as risks in the banking sector, analysts predict a quarter-point increase.
Asia-Pacific Daily Briefing: Singapore's Encouraging Inflation Print
Price pressures eased more than expected in Asia's 'little red dot.'
India government-backed open e-commerce network expands to mobility
Open Network for Digital Commerce, the Indian government-backed initiative that is attempting to “democratize” e-commerce , has set its eyes on another industry it would like...
IntegrityNext raises $109M for a platform to audit supply chains for ESG...
The funding landscape remains very tough for technology startups, but there are still some pockets, and specific companies, driving a lot of interest right now among investors...
Tencent Trading Up 2.5%
Shares of Tencent Holdings Limited were up 2.5% on Wednesday. The company traded as high as $45.25 and last traded at $44.72. Approximately 6,035 shares changed hands during...
Guitar-shaped hotel tower in tune with Strip, county says
Clark County cleared the way for a guitar-shaped hotel tower to be developed at The Mirage, a project that would spell the end of the resort's iconic volcano attraction.
Las Vegas home sales climb higher after sluggish 2023 start
The housing market started the year on a slow note, and though mortgage rates have been volatile lately, buyers have been returning.
TikTok Claims It's Limiting Teen Screen Time. Teens Say It Isn't
This month, the company announced a new 60-minute “daily screen time limit” for users under 18. But for most young users, staying on the app takes just a few taps.
Germans warned of more inflation
Consumer prices will continue to rise well into the next year amid global uncertainty, an economic advisory council has said The German Council of Economic Experts has warned...
Swiss regulator says central bank loan to Credit Suisse justified AT1 bond...