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Credit Suisse shares slump 64% after UBS deal

Credit Suisse UBS Zurich London SNB

A view of Credit Suisse signage at an office in Singapore on Monday (Reuters photo)

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.

UBS Group AG agreed to buy Credit Suisse Group AG in a historic, government-brokered deal aimed at containing a crisis of confidence that had started to spread across global financial markets.

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TSA quietly reverses benefit for travelers at some US airports just weeks after it was announced

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One subscription that gives you access to news from hundreds of sites

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TSA quietly reverses benefit for travelers at some US airports just weeks after it was announced

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