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The Latest Breaking News from UBS

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

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

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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

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

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

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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

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’

The Independent UK

EU, Asia bank shares slide despite UBS decision to buy out Credit Suisse

The European financial system is "resilient" the European Central Bank said on Monday, as global bank shares and oil prices slumped following the announcement that Switzerland's biggest bank UBS will take over troubled rival Credit Suisse.

Radio France Internationale

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.

Evening Standard

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…

France 24

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

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

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

Axios

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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.

The Guardian - UK

UK and US shares climb as banks and ministers aim to calm Credit Suisse fears

FTSE 100 rises and European banking shares are up after early jitters over what UBS takeover deal means for bondholders

The Independent UK

Credit Suisse news – latest: UBS shares suffer largest fall since 2008 after rescue deal

London markets grapple with takeover as FTSE 100 down 0.7 per cent today

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news in one place.

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Evening Standard

Thousands of City jobs at risk in Credit Suisse crisis as UBS takes over embattled bank

Investment bank, back office and technology jobs are set to be axed in London after UBS swallowed up Credit Suisse

The Independent UK

FTSE 100 falls after Credit Suisse sold to UBS in emergency rescue deal

Markets in Asia were also struggling earlier in the morning, with shares in Hong Kong falling by more than 3 per cent

Fortune

Saudi National Bank to lose $1.2B on Credit Suisse rescue

Comments from SNB's chairman sparked a crisis of confidence that ended with UBS taking over its Swiss rival for $3.2 billion.

Bangkok Post

Credit Suisse shares slump 64% after UBS deal

LONDON/ZURICH: Shares in Credit Suisse dropped 64% after the market opened on Monday after rival UBS agreed at the weekend to take over the 167-year old bank for $3 billion.

The Guardian - UK

Investors consider legal action over Credit Suisse deal; Downing Street says UK banking system is safe – as it happened

Holders of riskier AT1 bonds, which are wiped out under deal with UBS, consider legal action.

Evening Standard

FTSE 100 Live: FTSE closes at 7403 in major Credit Suisse rebound, Amazon lays off 9,000

London shares are under more pressure today as traders digest details of UBS’s emergency takeover of Credit Suisse.

The Independent UK

Six central banks announce plan to ease US dollar flows in rare joint move

Rare joint statement comes as banking giant UBS announced it will buy ailing rival Credit Suisse

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