UBS reported an unprecedented quarterly profit in banking history following its urgent acquisition of Credit Suisse.
Credit Suisse Chairman Axel Lehmann apologizes to shareholders, saying he’s “truly sorry”
At its last shareholder meeting as an independent business on Tuesday, Credit Suisse’s chair, Axel Lehmann, apologized to investors for the 167-year-old Swiss bank’s collapse. Lehmann addressed the bank’s AGM
Credit Suisse has been accused of facilitating tax evasion
The US Senate Finance Committee has accused Credit Suisse of aiding wealthy Americans in concealing their assets from tax authorities, even after a unit of the Swiss bank had pleaded
Credit Suisse and UBS reportedly face an investigation by US authorities for Russian sanctions evasion
American prosecutors are set to investigate the services provided by banks to clients with connections to the Kremlin.
The US Treasury Secretary attributes the current turmoil to contagious bank runs.
According to the US Treasury Secretary, Janet Yellen, the recent turmoil in the world’s financial system can be attributed to “contagious bank runs”.
Credit Suisse crisis: the death of market certainty
UBS’s wedding to Credit Suisse — with Thomas Jordan holding the shotgun — puts the nail in the coffin of investing certainty.
Following the turmoil at Credit Suisse, markets have rebounded.
Asian markets experienced a rebound overnight from the previous day’s downturn, as concerns about another financial crisis eased and lenders were lifted.
According to the Financial Times, UBS has agreed to acquire Credit Suisse for a sum exceeding $2 billion.
As per the Financial Times report on Sunday, UBS (UBSG.S) has raised its offer to more than $2 billion to acquire the Swiss banking behemoth Credit Suisse (CSGN.S).
What the hell is going on? Silicon Valley Bank, First Republic, Credit Suisse & potentially hundreds more
Good morning investors, and welcome to my very first newsletter on Substack. I have been motivated to start this weekly transmission for a few reasons.
As concerns about banking contagion escalate, UBS is considering a possible acquisition of Credit Suisse.
Sources have reported that UBS AG (UBSG.S) is considering the acquisition of Credit Suisse (CSGN.S), its struggling Swiss counterpart, in an effort to prevent the ongoing crisis at the bank
Credit Suisse sued by U.S shareholders
Credit Suisse’s recent troubles have led to its first lawsuit by US investors, who claim that the bank exaggerated its financial prospects to shareholders.