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The Latest Breaking News from Credit Suisse

Credit Suisse collapsed weeks after receiving a clean bill of health from regulators

The Swiss lender with nearly $575 billion in total assets collapsed at first slowly, then all at once.

Fortune

What are AT1 bank bonds – and why are Credit Suisse’s wiped out?

Global banking system is under pressure amid row over who should lose out first when a bank struggles

The Guardian - UK

Federal Reserve Rate Hike Odds Grow As Bank-Crisis Fears Ebb; S&P 500 Rises

With a Federal Reserve rate hike this week still in doubt, the S&P 500 rallied on Monday as the bank crisis showed signs of stabilizing.

Investors Business Daily

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Interest rates: why the Federal Reserve and Bank of England should still raise them (a bit)

What will the Federal Reserve and Bank of England do with benchmark interest rates in the wake of the banking crisis? Traditionally, controlling inflation has been the prime mandate of central banks.

The Conversation

Will the Credit Suisse bank takeover calm financial fears?

Globally connected Credit Suisse has been taken over by rival UBS at the urging of Swiss authorities to avoid a collapse that could have sent shock waves through the global economy

The Independent UK

Four ways to protect your small business from a banking crisis

The banking sector is currently experiencing great strain, which has resulted in several bank bailouts – most recently UBS’ deal to buy its Swiss competitor Credit Suisse following a collapse in confidence in the latter. HSBC’s acquisition of the UK arm of the collapsed Silicon Valley Bank the previous week…

The Conversation

OPINION - Window of opportunity to preserve liveable climate rapidly closing

The Metropolitan Police. The Democratic Unionist Party. Xi Jinping in Moscow. Boris Johnson at the Privileges Committee. UBS acquiring Credit Suisse. Beavers marauding around Ealing. There is always something going on that seems more urgent than climate change. More ‘newsy’. I mean, what’s another UN report or additional tonne of…

Evening Standard

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Swiss solve one problem at Credit Suisse, but create another for bondholders

Decision over bonds rips up convention and could undermine confidence in banking system

The Guardian - UK

How is the global banking crisis impacting the US and what is being done to solve it?

Collapse of Silicon Valley Bank sparks collapse of confidence in markets

The Independent UK

Fed's tough challenge: Confront inflation and bank jitters

Still grappling with persistently high inflation, the Federal Reserve faces an entirely new — and in some ways conflicting — challenge as it meets to consider interest rates this week: How to restore calm to a nervous banking system

The Independent UK

Bitcoin soars past $28,000 to hit its highest point in 9 months as investors get spooked by the banking sector struggles

The cryptocurrency had previously struggled to maintain momentum past the $25,000 mark.

Fortune

Bank Crisis: UBS Buys Credit Suisse; U.S. Bank Upgraded, PacWest, N.Y. Community Bank Rally

Swiss bank UBS agreed to buy Credit Suisse Sunday in a government-backed deal; First Republic downgraded, plans stock sale.

Investors Business Daily

Central banks around the world have said they’ll boost the flow of U.S. dollars into the global financial system. Here’s why

Global banking stocks have been battered in recent weeks amid chaos in the industry.

Fortune

Giant bank deal triggers political backlash in Switzerland

Switzerland's two biggest political parties sharply criticized UBS's takeover of Credit Suisse saying multi-billion state support for the deal created enormous risks for the country.

Reuters

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The Independent UK

Credit Suisse: What does the takeover mean for UK banks and is your money safe?

Bank of England insists UK’s banking system is ‘safe and sound’

Investors Business Daily

Dow Jones Rallies 300 Points As UBS Buys Credit Suisse; First Republic Plunges 20% On Credit Downgrade

The Dow Jones rose Monday after UBS agreed to buy Credit Suisse, First Republic Bank plunged 20% on a credit rating downgrade.

Evening Standard

Interest rate expectations torn up across the City into Bank of England meeting

Odds on a 0.25% hike shorten after inflation shock complicates rate call after bank failures in Europe and the US

Evening Standard

OPINION - The Standard View: Central bank co-ordination underlines lessons learned – and the scale of the threat

Not long ago, the acquisition of Swiss banking giant Credit Suisse by UBS would have been unthinkable. Now, it is happening at speed to prevent the unbearable.

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news in one place.

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France 24

UBS buys Credit Suisse in government-brokered, $3.2 billion all-share deal

Credit Suisse, a storied bank established in the 19th century, is in its last days as an independent entity. Switzerland's largest bank UBS has agreed to acquire it in a $3.2 billion all-share deal. The forced takeover was brokered by regulators and the Swiss government, who feared reputational damage to…

Evening Standard

Billions knocked off UK banking shares as financial fears linger after $3.3 billion Credit Suisse rescue

Interest rate rises look less likely as turmoil continues in financial sector as wider markets find support

Evening Standard

What is Credit Suisse, why is it so significant and who rescued it from collapsing?

As Switzerland’s second biggest lender, Credit Suisse was considered one of the top 30 most important banks in the world

The New Daily

RBA urges calm as markets extend losses after Credit Suisse bailout

Australian markets have plunged again as the bailout of European banking giant Credit Suisse rattles confidence in the global bank system.

Axios

UBS-Credit Suisse deal shows that shareholders are no longer in charge

The Swiss government literally changed the law to get this deal done.

Evening Standard

Credit Suisse bankers will still get bonuses despite UBS takeover

Bankers at imploding Credit Suisse are still going to get their bonuses despite it being swallowed up by rival UBS, it emerged on Monday.

The Independent UK

Views from Zurich as Swiss bank Credit Suisse taken over by rival UBS

Watch from Zurich as news breaks that Credit Suisse will be taken over by its larger rival, UBS.

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