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The Latest Breaking News from UBS

UBS buys Credit Suisse in government-brokered, $3.2 billion all-share deal

Credit Suisse, a storied bank established in the 19th century, is in its last days as an independent entity. Switzerland's largest bank UBS has agreed to acquire it in a $3.2 billion all-share deal. The forced takeover was brokered by regulators and the Swiss government, who feared reputational damage to…

France 24

Billions knocked off UK banking shares as financial fears linger after $3.3 billion Credit Suisse rescue

Interest rate rises look less likely as turmoil continues in financial sector as wider markets find support

Evening Standard

UBS-Credit Suisse deal shows that shareholders are no longer in charge

The Swiss government literally changed the law to get this deal done.

Axios

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Credit Suisse bankers will still get bonuses despite UBS takeover

Bankers at imploding Credit Suisse are still going to get their bonuses despite it being swallowed up by rival UBS, it emerged on Monday.

Evening Standard

Views from Zurich as Swiss bank Credit Suisse taken over by rival UBS

Watch from Zurich as news breaks that Credit Suisse will be taken over by its larger rival, UBS.

The Independent UK

UK and US shares climb as banks and ministers aim to calm Credit Suisse fears

FTSE 100 rises and European banking shares are up after early jitters over what UBS takeover deal means for bondholders

The Guardian - UK

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

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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

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

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

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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 Guardian - AU

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 Independent UK

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

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news in one place.

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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

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.

Axios

UBS to buy Credit Suisse as banking fears persist

Swiss regulators manage takeover of 167-year-old European banking giant.

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

The New Daily

UBS to take over 167-year-old rival Credit Suisse

Deal done: UBS will buy Credit Suisse after increasing its offer to more than $US2 billion, the Financial Times reports

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