The deal caps a highly volatile week for Credit Suisse, most notably on Wednesday when its shares plunged to a record low after its largest investor, the Saudi National Bank, said it wouldn’t invest any more money into the bank
. As a result, their downfall does not necessarily signal the start of a financial crisis similar to what occurred in 2008.when its shares plunged to a record low after its largest investor, the Saudi National Bank, said it wouldn’t invest any more money into the bank to avoid tripping regulations that would kick in if its stake rose about 10%.
Its current troubles began after Credit Suisse reported on Tuesday that managers had identified “material weaknesses” in the bank’s internal controls on financial reporting as of the end of last year. That fanned fears that Credit Suisse would be the next domino to fall. in interest rates to try to curb stubbornly high inflation, saying Europe’s banking sector is “resilient,” with strong finances.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Swiss banking giant UBS 'in talks to takeover troubled rival Credit Suisse'Swiss banking giant UBS is reportedly in advanced talks to buy all or part of crisis-hit lender Credit Suisse.
Weiterlesen »
UBS agrees to rescue troubled bank Credit SuisseSwiss banking giant UBS agrees emergency rescue deal for rival Credit Suisse in government-brokered takeover
Weiterlesen »
UK regulators back merger of banking giants Credit Suisse and UBSThe Bank of England has told its Swiss counterpart and the country's two biggest banks that it will not object to an emergency merger, Sky News understands.
Weiterlesen »
Ulrich Körner, the man trying to hold Credit Suisse together\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Weiterlesen »
UBS in talks to acquire Credit Suisse\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Weiterlesen »
BlackRock assembles rival Credit Suisse takeover bid\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Weiterlesen »