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The Independent UK
The Independent UK
National
David McHugh

Will the Credit Suisse bank takeover calm financial fears?

Credit Suisse UBS Lehman United States Christine Lagarde Economy Swiss US Federal Reserve
' KEYSTONE / SALVATORE DI NOLFI

In a bid to ease turmoil in the world financial system, Swiss authorities engineered a plan for the UBS bank to acquire its troubled smaller rival Credit Suisse at a marked-down price.

It's another urgent attempt to fight fears that have put the financial world on edge 15 years after the failure of U.S. investment bank Lehman Brothers pitched the global economy into a crisis.

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