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The Latest Breaking News on UBS reports $785m loss due to costs of Credit Suisse integration

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

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

The Independent UK

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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

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

Bank of Thailand reiterates limited impact of global banking problems

Thailand's central bank on Monday repeated that it expected only a small impact on the country's financial system and financial markets from the problems at banks in the United States and Europe, and would closely monitor the situation.

Bangkok Post

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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

Evening Standard

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.

The New Daily

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 Independent 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 Guardian - 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

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

The Independent UK

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.

Fortune

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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.

The Independent UK

UBS to buy Credit Suisse for nearly $3.25B to calm turmoil

Swiss President Alain Berset said banking giant UBS is acquiring its smaller rival Credit Suisse for almost $3.25 billion in an effort to avoid further market-shaking turmoil in global banking

The Independent UK

What happened to Credit Suisse and why are banks needing bailouts again?

Could isolated failures herald another global banking crisis?

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The Independent UK

Asian stocks sink after Credit Suisse takeover

Asian stock markets are lower after Swiss authorities arranged the takeover of troubled Credit Suisse amid fears of a global banking crisis ahead of a Federal Reserve meeting to decide on more possible interest rate hikes

The Independent UK

Credit Suisse news – latest: Asia markets down after UBS offers to buy crisis-hit bank

UBS’s merger with Credit Suisse has been welcomed internationally

Al Jazeera

Japan, Singapore and Hong Kong downplay Credit Suisse fallout

Asian financial authorities say Swiss lender’s takeover not likely to affect stability of local banks.

Fortune

Credit Suisse failure follows years of scandal and mistrust—with an Ohio mattress company playing a role

“We’ve watched the bank lurch from scandal to scandal for so long that it’s hard to recall all of them at this point.”

ABC News

ASX dives in late afternoon trade as moves to quell banking crisis fail to enthuse investors

Australia was the first major financial centre to react to UBS's takeover of Credit Suisse and coordinated action by central banks to pump more US dollars into the global banking system — and the response was hardly enthusiastic.

Axios

UBS to buy Credit Suisse as banking fears persist

Swiss regulators manage takeover of 167-year-old European banking giant.

Tribune News Service

Global central banks endorse Switzerland’s Credit Suisse deal

Central banks around the world lined up to hail Credit Suisse’s rescue, and emphasized the strength of the lenders under their remit.

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