The global economy is facing a perilous phase as inflation becomes “much stickier,” warns the International Monetary Fund (IMF). With inflation rates picking up all over the world, the IMF is warning that the world’s economies are in danger of overheating. This marks a stark warning from the IMF, which has expressed growing concern about … Read more
Swiss prosecutors are investigating the takeover of Credit Suisse by rival UBS, following allegations of illegal collusion and market manipulation. The probe has sent shockwaves through the banking industry, as both Credit Suisse and UBS have faced scrutiny over their secretive dealings and the potentially damaging impact of their merger on competition in the Swiss … Read more
WELT: Mr. Utermann, in a dramatic rescue operation, the Swiss UBS took over Credit Suisse. How do you rate the merger? Andreas Utermann: The role of the “Monday morning quarterback”, who analyzes the games from the weekend afterwards, has never suited me. I prefer to look ahead. And then I noticed that the markets have … Read more
The banking system in free fall Regulators and politicians around the world are trying to allay fears of a new banking crisis. But the bankruptcy of Silicon Valley Bank and the emergency merger of UBS and Credit Suisse were not the end. Even after the experiences of 2008, it was not possible to regulate the … Read more
As the Irish government deals with the economic repercussions of the ongoing COVID-19 pandemic, the Irish Strategic Investment Fund is taking steps to sell the National Lottery. As the largest and most popular game in the country, this move could have significant implications for both the Irish economy and the lottery industry as a whole. … Read more
Warren Buffett The star investor had already become active during the 2008 financial crisis. (Photo: AP) Denver Bankers, regulators and government officials have been dealing with a central question for days: How can trust in the US banking system be restored after the Silicon Valley Bank (SVB) went bankrupt? Star investor Warren Buffett is apparently … Read more
The banking industry has always been a volatile sector, with various factors influencing the stock prices of banks. In recent news, there has been a significant upheaval in the banking sector, specifically concerning the €3bn takeover of Credit Suisse. This development has sent ripples through the financial market, causing a whipsaw effect in bank shares. … Read more
The European Central Bank (ECB) has announced its readiness to support banks after the $3 billion rescue of Credit Suisse by its Swiss counterpart, FINMA. The move follows recent concerns over the stability of the banking sector in Europe, which have been intensified by the ongoing COVID-19 pandemic. With the ECB standing ready to provide … Read more
In a world where the global banking system is facing unprecedented challenges, recent reports reveal that UBS has confirmed plans to acquire Credit Suisse in a significant move to address the looming crisis. This merger represents one of the largest deals in Swiss banking history and has the potential to reshape the financial landscape in … Read more
Bloomberg previously reported that Swiss authorities are considering partial or full nationalization of the country’s second-largest bank. Switzerland should have resorted to this extreme solution in the event that the merger with rival UBS could not be negotiated. As part of the deal, the Swiss central bank will also provide $100 billion to boost Credit … Read more