It seems that UBS, one of Switzerland’s largest banks, may be stepping up to the plate to rescue its competitor from disaster. Recent reports suggest that UBS has made an offer to purchase Credit Suisse, a bank that has been struggling with a series of crises and scandals in recent years. The proposed deal, worth … Read more
ZURICH/BERN According to media reports, the Swiss supervisory authorities are urging UBS to take over its smaller local rival. State guarantees are a prerequisite for a deal that will be frantically negotiated over the weekend. The Swiss government in Bern should issue a guarantee to cover the risks associated with the takeover, it said. The … Read more
The Taoiseach of Ireland, Micheál Martin, has remained calm and assured in the face of recent market jitters, which have been sparked by Credit Suisse’s involvement in a series of hedge fund losses. Despite concerns about the stability of Irish banks, Martin has stated that he is “not concerned” about the impact of the Credit … Read more