45 minutes ago European banking stocks slide 42 minutes ago European stocks open lower European stocks were down at the start of trade as investors valued a news-rich weekend that culminated in UBS’s takeover of Credit Suisse. The Stoxx 600 index was down 1.4% at 8.30am London time, with losses across major exchanges and across … Read more
Asian regulators issued reassuring statements on Monday that their banking systems have remained robust and stable after Swiss banking giant UBS agreed to buy rival Credit Suisse. Swiss regulators played a key role in orchestrating the forced takeover, to stem a wider banking crisis that would threaten the global system. From Hong Kong to Australia … Read more
A sale to UBS, which could be completed as early as tonight, values Credit Suisse at around $7 billion below its market value at Friday’s close. It comes after Credit Suisse shares posted their worst weekly decline since the start of the coronavirus pandemic. This is despite news that it would have access to a … Read more
Talks on bailing out Credit Suisse continued on Sunday as UBS demanded $6 billion from the Swiss government to cover the costs. UBS is under pressure from Swiss authorities to take over its local competitor to bring the crisis under control, two people with knowledge of the matter said. Regulators want a resolution before markets … Read more
