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The Latest Breaking News from Credit Suisse

Credit Suisse chairman ‘truly sorry’ for failure to stem crisis

ZURICH: Credit Suisse Group AG Chairman Axel Lehmann apologized to shareholders for failing to stem a loss of trust in the bank that he said had built up well before he took over.

The Times of India

Credit Suisse shareholders get last crack at annual meeting

Once-venerable Credit Suisse could be heading into a firestorm as shareholders meet for what is shaping up to be their last crack at managers

The Independent UK

Balancing act: Why central banks are cautious after bank crisis

Central banks are seen treading carefully following the sudden collapses of Silicon Valley Bank and Credit Suisse.

Al Jazeera

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Delaying NatWest share sales doesn’t matter. Just get the best price

A formal date can concentrate minds, yet the priority must be the achievement of value for the public purse

The Guardian - UK

Swiss prosecutors probe Credit Suisse ahead of UBS takeover

The Swiss attorney general’s office says it has opened a probe into the events surrounding embattled bank Credit Suisse, which is to be taken over by rival UBS

The Independent UK

Rebalance your portfolio

Investors have been keeping an eye on assets offering a decent return this year amid global market volatility and an economic slowdown.

Bangkok Post

Switzerland’s attorney general to investigate Credit Suisse takeover

Inquiry to focus on whether emergency state-backed UBS takeover breached criminal law

The Guardian - UK

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After the Recent Banking Crisis, What Can You Bank On?

Now would be a good time to take stock of how your nest egg may be exposed in a banking crisis. Here are five things you should know about.

Kiplinger

Credit Suisse takeover hits heart of Swiss banking, identity

Analysts say the UBS takeover of embattled rival Credit Suisse has shaken Switzerland’s self-image and dented its reputation as a global financial center

The Independent UK

Banking crisis: has the city weathered the financial storm?

It was perhaps inevitable that, after the shock collapse of Credit Suisse, attention would switch to another European bank with “a patchy record”, said Lex in the FT.

The Week

Silicon slump? How worried should we be about another financial crisis?

The collapse of Silicon Valley Bank has raised the spectre of another financial crisis. As the contagion appears to be spreading, Samuel Fishwick investigates how spooked we should be feeling

Evening Standard

Credit Suisse helped rich dodge taxes

"Republican budget cuts have decimated the IRS's ability to root out this kind of offshore tax evasion scheme"

Salon

What bank CEOs should tell clients to reassure their money is safe

It’s up to bank CEOs to convince clients that their money is safe.

Fortune

Asia stocks mostly rise after Wall St rally, bank fears ease

Asian shares are mostly higher following a rally on Wall Street as worries over banks following the collapses of several lenders in recent weeks recede

The Independent UK

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Chicago Sun-Times

Credit Suisse violates deal on rich clients’ tax evasion

The Senate Finance Committee finds that troubled Credit Suisse failed to report secret accounts held by U.S. citizens trying to avoid paying taxes.

France 24

US accuses Credit Suisse of violating tax evasion deal

US lawmakers say the embattled bank Credit Suisse has violated the terms of a plea deal related to tax evasion. A two-year investigation suggests the lender has continued to conceal the bank accounts of wealthy Americans. Meanwhile, UBS has brought back former CEO Sergio Ermotti to lead its takeover of…

Fortune

Switzerland brings back its most successful banker to steer the merged UBS-Credit Suisse behemoth

Heeding the "call to duty," Lugano native Sergio Ermotti returns to his old post as CEO of the Swiss wealth manager to navigate it through choppy waters.

The Independent UK

Senate: Credit Suisse still helps rich Americans evade taxes

U.S. lawmakers say Credit Suisse has kept allowing wealthy Americans to dodge tax payments

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The Guardian - UK

UBS brings back former chief to oversee Credit Suisse takeover

Sergio Ermotti, who stepped down in 2020, will rejoin Swiss bank as it prepares to absorb troubled rival

The Independent UK

UBS brings back former CEO with Credit Suisse deal ahead

UBS says it’s bringing back former CEO Sergio Ermotti to lead the Swiss bank as it moves forward with a government-orchestrated plan to take over struggling rival Credit Suisse

The Guardian - UK

Credit Suisse aided tax evasion, says US Senate committee; Bank of England reports UK banks are ‘resilient’ – as it happened

US Senate committee’s findings come on the day UBS appoints ex-boss Sergio Ermotti as new CEO to steer Credit Suissse takeover

Bangkok Post

Ermotti back as UBS chief for Credit Suisse takeover

ZURICH: Sergio Ermotti will return as CEO of Swiss banking giant UBS to pilot the controversial acquisition of troubled rival Credit Suisse, its board announced Wednesday.

StockNews.com

Why These 3 High Volume Financial Stocks Are Not Worth Buying

Volumes have soared with bottom fishers expecting gains through the residual value of sunken financial stocks Credit Suisse (CS), First Republic (FRC), and Silvergate (SI). However, with deflating asset prices amid increasing interest rates, it would be wise to avoid them altogether. Continue reading….

The Conversation

What central banks are doing to safeguard financial stability and why they must proceed with caution

Before a crucial week of interest rate decisions for central banks, and on the eve of the emergency takeover of banking giant Credit Suisse, the Bank of England and five other major central banks announced a coordinated effort to boost the flow of US dollars through the global financial system.

Axios

"Badwill" hunting: The difference between the bank failures of 2008 and today

The difference between the bank failures of 2008 and today.

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