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The Latest Breaking News from UBS

UBS bosses urged to avoid job cuts and hikes in their pay after Credit Suisse deal

Shareholders line up at AGM to criticise creation of $5tn mega-bank after takeover of smaller rival

The Guardian - UK

UBS says Credit Suisse merger the right choice despite risks

Basel (Switzerland) (AFP) - UBS chiefs told shareholders on Wednesday that the Swiss bank's emergency takeover of beleaguered rival Credit Suisse was a "Herculean task" strewn with risks -- but still the right decision.

AFP

Swiss regulators defend rescue of Credit Suisse via UBS deal

The head of the Swiss financial regulator has defended the rescue of Credit Suisse through a controversial takeover by rival bank UBS as the best solution with least risk of spreading a wider crisis and severe damaging Switzerland’s standing as a financial center

The Independent UK

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Treasury and business department postpone meetings with CBI after sexual misconduct claims – as it happened

Talks between Royal Mail and union end without a deal; UBS faces investors over merger with Credit Suisse

The Guardian - UK

UBS shareholders to weigh in on Credit Suisse mega-merger

Geneva (AFP) - UBS shareholders get their first chance to grill the bank's bosses Wednesday over its shotgun marriage to Credit Suisse, done in double-quick time behind their backs.

AFP

‘I am truly sorry’: Credit Suisse chairman grovels with police security at his side as he apologizes for wiping out billions in shareholder value

“I apologize that we were no longer able to stem the loss of trust that had accumulated over the years, and for disappointing you,” Axel Lehmann said at the bank’s final shareholder meeting.

Fortune

Financial turmoil will be felt for years, says JP Morgan boss

Jamie Dimon says downfalls of Silicon Valley Bank and Credit Suisse have undermined confidence

The Guardian - UK

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Credit Suisse chiefs say sorry to angry shareholders

Zurich (AFP) - Credit Suisse chairman Axel Lehmann said Tuesday he was "truly sorry" that the beleaguered bank could not be saved as he faced angry and tearful shareholders whose money has gone up in smoke.

AFP

Credit Suisse chiefs say sorry to shocked shareholders

AFP

Stocks Higher, Walmart Job Cuts, Credit Suisse Apology, Virgin Orbit Bankruptcy, Donald Trump Arraignment - Five Things To Know

Stock futures edge higher as recession worries clip treasury yields; Walmart planning 2,000 e-commerce job cuts as demand wanes; Credit Suisse chairman 'truly sorry' for bank collapse as shareholders vent ire; Virgin orbit files for bankruptcy after January launch failure and Former President Donald Trump faces historic arraignment in Manhattan…

The Street

Furious Credit Suisse investors say bank’s board should be ‘put behind bars’

Shareholders lash out during final AGM as boss apologises for crisis that led to takeover of lender by UBS

The Guardian - UK

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

Credit Suisse chiefs face the music at AGM

Zurich (AFP) - Credit Suisse shareholders will get their first chance to voice their frustrations at the beleaguered bank's takeover by UBS, at its annual general meeting in a Zurich concert venue Tuesday.

AFP

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

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AFP

Sergio Ermotti: George Clooney of Swiss banking back as UBS boss

Zurich (AFP) - Sergio Ermotti, back as chief executive of UBS to oversee the mammoth takeover of Credit Suisse, has gone from local apprentice to the two-time boss of a top global bank.

The Independent 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

Bangkok Post

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.

AFP

Swiss prosecutors say investigating UBS-Credit Suisse merger

Geneva (AFP) - Swiss federal prosecutors said Sunday that they had opened an inquiry into the UBS takeover of its embattled banking rival Credit Suisse, following pressure from federal authorities and media leaks.

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The Guardian - UK

Switzerland’s attorney general to investigate Credit Suisse takeover

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

The Independent UK

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 Street

Here's Why People Are Blaming Smartphones and Social Media for the Bank Collapse

Finance gurus point to technology as a bank run panic percolator. SVB wouldn’t argue.

Fortune

'Stakeholderism' is a reaction to rising statism

The UBS-Crédit Suisse merger is a very Swiss tale–but it shows how governments are reclaiming power over the economy.

The Independent UK

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

Financial Times

How rising interest rates are exposing bank weaknesses

Recent collapses in US and Europe highlight new threats to lenders and upend conventional wisdom

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.

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