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The Latest Breaking News from Credit Suisse

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

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

Evening Standard

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

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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

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.

Bangkok Post

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 Guardian - UK

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.

Evening Standard

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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

The Independent UK

AP News Digest 3:30 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan.

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

Explainer: are we in a banking crisis?

The below-market sale of Credit Suisse has spooked investors but other markets have held up well and central banks are working to keep money flowing

The Guardian - AU

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

The Independent UK

RBA says it’s harder to break the bank in Australia

Reserve Bank assistant governor Christopher Kent says Australian banks are on a firm footing despite strained conditions in global financial markets.

The New Daily

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The Times of India

The one winner and many losers of UBS’s Credit Suisse rescue

BERN: UBS Group AG is emerging as a rare winner in Credit Suisse Group AG’s crisis after a historic, government-brokered deal that contains a raft of financial shock absorbers.

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.

AAP

RBA says Australian banks strong despite global turmoil

Reserve Bank assistant governor Christopher Kent says Australian banks are on a firm footing despite strained conditions in global financial markets.

The Independent UK

UK banking system ‘safe and sound’ after Credit Suisse buyout, Bank of England says

Threadneedle Street has days before next interest rates call, as central banks signal more turmoil could follow

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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.

Newsroom.co.nz

Credit Suisse is the car crash in its own Bonfire of the Vanities

The name's Bond – unhedged Treasury bond. Jonathan Milne argues that bond traders have again become sexy, for all the wrong reasons.

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.

Chicago Sun-Times

UBS to buy Credit Suisse for nearly $3.25 billion to calm turmoil in banking industry

Credit Suisse’s buyout by UBS was arranged by banking regulators worried that Credit Suisse’s failure could have repercussions similar to the collapse of Lehman Brothers.

The Guardian - AU

Morning Mail: Amazon acts on party drug loophole, Credit Suisse takeover deal, Perrottet talks pokies

Vladimir Putin visits Mariupol, Marles says Iraq war opponents have been vindicated and NSW election nears

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