The Latest Breaking News from Credit Suisse

Swiss banking group has cut 13,000 jobs this year as it recovers from rushed rescue deal

UBS rescued Credit Suisse from collapse in March

Swiss bank UBS announced plans to save $10 billion in costs as it moves ahead with “full integration” of longtime rival Credit Suisse’s domestic operations, releasing its first earnings report since the government-orchestrated merger to help stave off a possible global financial meltdown

The wealth gap between the richest Americans and the bottom 50% narrowed in 2022, according to a new report.

Worldwide wealth fell 2.4% or $11.3 trillion last year to $454.4 trillion, according to a new UBS and Credit Suisse report.

UBS will pay U.S. authorities $1.44 billion to settle the last lingering legal case over Wall Street’s role in the housing bubble of the early 2000s, which ultimately led to the 2008 financial crisis and Great Recession

Fresh legal claim planned by group of almost 1,000 shareholders to rushed rescue in March

The Dow Jones rose as the Nasdaq fell. Retail stocks are in focus. Walmart rose on an analyst upgrade. Target and Walmart report earnings next week.

Morning Markets September E-Mini S&P 500 futures (ESU2 3) this morning are down -0.25%, and Sep Nasdaq 100 E-Mini futures (NQU2 3) are down -0.47%. Stock indexes this morning are moderately lower. Concerns that weakness in China’s economy will curb global growth prospects are weighing on stocks. Losses in stock...