The Latest Breaking News from Credit Suisse

Bank panic leads to £55 billion in outflows at fallen giant Credit Suisse

Extent of bank run highlights City job fears into the shotgun marriage with UBS

Evening Standard · Apr 24, 2023

FTSE 100 Live: CBI dismisses ‘a number of people’; Credit Suisse outflows haven’t stopped

Results from collapsed bank Credit Suisse today revealed the scale of the run on assets during last month’s industry turmoil.

Evening Standard · Apr 24, 2023

Cheerier finance chiefs still worried about troubles ahead

Survey of normally cautious CFOs find them at their most bouyant since 2020

Evening Standard · Apr 21, 2023

Credit Suisse rescue rebuked by half of Swiss parliament

Switzerland’s lower house of parliament has issued a searing — though symbolic — rebuke of an emergency plan spearheaded by the executive branch to prop up embattled Credit Suisse and shepherd it into a takeover by Swiss banking rival UBS

The Independent UK · Apr 12, 2023

IMF forecasts inflation could remain high until 2025, affecting global growth

During its annual Spring Meeting in Washington, the International Monetary Fund has revised its forecasts upward to 7 percent for global inflation this year and 4.9 percent in 2024. Those figures, above the target rate of 2 percent, will be contributing factors in slowing down growth, including for developing economies.…

France 24 · Apr 12, 2023

Credit Suisse rescue package rejected by Swiss parliament

Switzerland's parliament rejected on Wednesday the government's 109 billion Swiss francs ($120.82 billion) aid for Credit Suisse's merger with UBS, leaving the fallen bank's hastily arranged rescue without a largely symbolic parliamentary blessing.

Reuters · Apr 12, 2023

UBS mulls retaining Credit Suisse unit serving India’s rich

NEW DELHI: UBS Group AG is considering retaining Credit Suisse Group AG’s private banking unit in India after the emergency rescue of its smaller rival last month, paving the way for a potential return to the market.

The Times of India · Apr 12, 2023

IMF warns deeper financial turmoil would hit growth

The International Monetary Fund has trimmed its 2023 global growth outlook slightly as higher interest rates cool activity.

The New Daily · Apr 11, 2023

Alibaba unveils chatbot as China tightens rules on AI

Alibaba is the latest tech company to enter the artificial intelligence race, as it unveils its own chatbot, Tongyi Qianwen. But it could face restrictions before even launching, as authorities in Beijing have outlined draft regulations to govern AI, including the stipulation that such platforms will reflect the core values…

France 24 · Apr 11, 2023

Weeks after his ‘big failure’ losing almost $2 billion on SVB, Sweden’s top pension fund chief sacked ‘with immediate effect’

Magnus Billing urged Alecta to “take actions based upon the lessons learned.” The action was his dismissal.

Fortune · Apr 11, 2023