The Latest Breaking News from UBS

The Swiss central bank has hiked its key interest rate and insisted that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil

Banking is the confidence trick at the heart of capitalism, but preserving the trick has meant that banks have become arms of the state.

‘A monster is born’, say local press, as Credit Suisse takeover by UBS creates bank twice the size of the Swiss economy

Credit Suisse had earlier written in an internal memo that it would pay outstanding bonuses as it tries to stick to "business as usual."

Switzerland’s government says it’s ordering Credit Suisse to temporarily suspend bonuses for employees after orchestrating a plan for the No. 2 Swiss bank to be taken over by rival UBS

Investment banking roles expected to be worst hit at Credit Suisse in London

The recent collapse of Silicon Valley Bank (SVB) – the failure of the biggest US lender since the 2008 global financial crisis – has created waves across the global banking system. The subsequent collapse of another US institution, Signature Bank, the US$30 billion (£24.5 billion) lifeline given to First Republic…

First Republic Bank led financials higher early Tuesday as regulators work to soothe fears of a bank crisis. UBS, regional bank stocks rise.

City Comment: The concern now must be that the banking is in the hands of one gigantic institution