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
Allegations of tax fraud have led to the raiding of French banks
As part of an investigation into tax fraud and money laundering related to dividend payments, some of France’s largest banks were raided by the country’s financial prosecutor.
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 to hold emergency meeting with US financial regulators
Today, in the midst of the recent banking turmoil, the US Treasury Secretary, Janet Yellen, will chair an impromptu meeting with the leaders of America’s financial regulatory bodies.
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.
Investor attention on the upcoming US Fed meeting has caused gold prices to rise higher
On Tuesday, gold prices saw a slight increase as investors eagerly anticipate the Federal Reserve policy meeting.
The price of gold has increased due to turmoil in the banking industry.
Due to the recent banking crises in the US and Europe, gold prices have exceeded $2,000 per ounce for the first time in over a year.
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.