UBS bank to buy Credit Suisse | 7NEWS

Switzerland's biggest bank, UBS, is to buy its troubled rival, CreditSuisse. The multi-billion dollar deal has been thrown together to try to resolve a crisis in confidence in Credit Suisse, before markets reopen for the week. CreditSuisse 7NEWS

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

7NewsSydney /  🏆 16. in AU

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Credit Suisse: Societe General, Deutsche Bank among banks limiting trades with Credit SuisseThe restrictions add to the Swiss bank’s problems as it tries to restructure operations and find its footing after a series of costly scandals.
Read more »

UBS’ takeover of Credit Suisse should ‘calm jitters’UBS’s takeover of Credit Suisse should “calm jitters”, according to CommSec’s Ryan Felsman. “Over the course of the weekend, what we have seen is an up to $3 billion deal for Switzerland’s largest bank UBS to takeover Switzerland’s second largest bank Credit Suisse,” he told Sky News Australia. “That deal is an all-shared deal at 0.5 Swiss Francs, and that’s a lot lower than Credit Suisse’s share price on Friday.” Presented by CommSec.
Read more »

Switzerland's largest bank in talks to save Credit SuisseCredit Suisse is in advanced talks with its larger Swiss rival UBS about a deal to salvage Switzerland's second-biggest bank, in a bid to reassure investors before the markets open next week.
Read more »

UBS explores takeover of embattled Credit SuisseSwiss officials are pushing UBS Group to consider an acquisition of all or parts of Credit Suisse, after a rout in its smaller rival sent shock waves across the global financial system this week.
Read more »

Why the Credit Suisse-UBS deal simply must get doneGlobal markets can’t afford for the takeover talks between UBS and stricken Swiss rival Credit Suisse to fail.
Read more »

Credit Suisse Aussie team in the dark on UBS takeoverCredit Suisse’s local bankers, analysts and traders are in the dark as their Swiss overlords talk to regulators and arch rival UBS about a mooted tie-up.
Read more »