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The Latest Breaking News from UBS

The ‘too big to fail’ regime for banks just doesn’t work, Swiss minister says. ‘The economic damage would be considerable’

A restructuring or liquidation would have triggered “major international upheaval," said finance minister Karin Keller-Sutter.

Fortune

How Credit Suisse redefined the IPO market during the Dot-Com boom—then lost its grip and spiraled into scandal

In the glory days of Credit Suisse, investment banker Frank Quattrone helped put Silicon Valley on the map.

Fortune

Head of Credit Suisse talks of his profound sadness over UBS takeover

Ulrich Körner acknowledges an ‘emotional and challenging week’ after emergency deal was forced through by Swiss authorities

The Guardian - UK

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Europe will pay the price for wiping out Credit Suisse bondholders, warns ex-CEO Tidjane Thiam

Tidjane Thiam says the controversial decision by Swiss authorities will mean U.S. and Asian lenders could come out of banking crisis stronger.

Fortune

Deutsche Bank leads sell-off in European bank shares

FTSE 100 also falls amid fears another bank could slip into trouble after UBS takeover of Credit Suisse

The Guardian - UK

Deutsche Bank shares drop amid global jitters over banks

Shares in Deutsche Bank, Germany’s largest lender, have fallen sharply and dragged down major European banks as fears about weaknesses in the global financial system send fresh shudders through the markets

The Independent UK

Global banking crisis anything but over as investors dump giant USB’s shares

Banking stocks have fallen sharply with heavyweights Deutsche Bank and UBS hit hard by fears of the worst crisis since 2008 financial crisis

The New Daily

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EU Leaders Grapple with Bank Risks as Economy Weakens

European Union leaders gathered Friday to gauge the risk of a banking crisis developing from recent global financial turbulence and hitting the economy even harder than the energy crunch tied to Russia's war in Ukraine. The deliberations by EU government heads in Brussels follow US regulators shutting down two US…

Asharq Al-Awsat

UBS Acquisition Of Credit Suisse As Anxiety Builds Among Banks’ Subordinated Bondholders

UBS Group AG's takeover of Credit Suisse Group AG has done nothing to alleviate market concerns about the banking sector

Zenger

Intensive monitoring backs local banks to ride out global market ructions

Financial regulators confirm the resilience of Australia's banking system following rigorous oversight during the past fortnight.

The New Daily

After Fed, European central banks hike rates

LONDON: The Bank of England joined Norway and Switzerland in hiking interest rates on Thursday to tackle stubbornly-high inflation, though banking-sector turmoil could soon lead to a pause in US tightening as hinted by the Federal Reserve.

Bangkok Post

Credit Suisse deal halted crisis, Swiss national bank says

The Swiss central bank has hiked its key interest rate and insisted that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil

The Independent UK

Alan Kohler: Banking is a paradox at the heart of capitalism

Banking is the confidence trick at the heart of capitalism, but preserving the trick has meant that banks have become arms of the state.

The New Daily

When banks go bust: the four factors at play - trust, confidence, contagion and systemic risk

Banks are in the news again. Two bank failures in the US, and the forced takeover of Credit Suisse by UBS in Switzerland, have triggered the worst turmoil in the banking sector since the 2008 financial crisis. There’s talk of a lack of trust, of a collapse in confidence, of…

The Conversation

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The Independent UK

Credit Suisse customers feel mix of anger, relief after sale

Credit Suisse's customers are feeling a range of emotions after the government orchestrated a takeover of the country’s second-largest bank by rival UBS

Fortune

Shareholders won in UBS's Credit Suisse takeover -but this investment manager lost $340m

PIMCO's exposure now runs into the billions, a source familiar with the matter said.

Fortune

The long, strange history between Credit Suisse and UBS

The two banks have a long history of not getting along.

The Guardian - UK

Switzerland’s national pride dealt heavy blow by the merger of its banking titans

‘A monster is born’, say local press, as Credit Suisse takeover by UBS creates bank twice the size of the Swiss economy

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Fortune

Swiss order Credit Suisse to suspend paying some bonuses

Credit Suisse had earlier written in an internal memo that it would pay outstanding bonuses as it tries to stick to "business as usual."

The Independent UK

Swiss suspends bonus payouts to Credit Suisse staffers

Switzerland’s government says it’s ordering Credit Suisse to temporarily suspend bonuses for employees after orchestrating a plan for the No. 2 Swiss bank to be taken over by rival UBS

The Guardian - UK

Thousands of UK jobs at risk after UBS takeover of Credit Suisse

Investment banking roles expected to be worst hit at Credit Suisse in London

The Conversation

How changing banks' corporate social responsibility reporting could prevent future financial failures

The recent collapse of Silicon Valley Bank (SVB) – the failure of the biggest US lender since the 2008 global financial crisis – has created waves across the global banking system. The subsequent collapse of another US institution, Signature Bank, the US$30 billion (£24.5 billion) lifeline given to First Republic…

Evening Standard

‘Monster’ bank must not become too big to save

City Comment: The concern now must be that the banking is in the hands of one gigantic institution

Evening Standard

Markets hold their nerve in Europe as key interest rate decisions loom

Investors are looking ahead to a brace of potentially explosive interest rate decisions later in the week

The Independent UK

What happened to Credit Suisse and why are banks needing bailouts again?

Could isolated failures herald another global banking crisis?

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