News with the tag "credit suisse"

Switzerland is about to drop one of its most highly anticipated reports: the findings from its investigation into Credit Suisse’s shocking collapse in 2023. The report, led by the Parliamentary Investigation Commission (PUK), will get deep into the chain of events that caused the downfall of one of ...

The banking behemoth UBS has found itself navigating turbulent waters as it reports back-to-back quarterly losses, a direct fallout from its bold move to rescue its beleaguered competitor, Credit Suisse. This financial quagmire saw UBS posting a $279 million loss in the last quarter of the previous ...

UBS, the renowned Swiss banking giant, has found itself grappling with a hefty $400 million in real estate expenses. This financial burden stems from its recent acquisition of Credit Suisse, a move that has necessitated breaking leases and rebranding efforts across key global office locations. The t...

As the dust settles on one of the most audacious takeovers in banking history, UBS Group has emerged with a significant financial bruise. The Swiss banking titan’s third-quarter report paints a stark picture: a $785 million loss hanging over shareholders’ heads—a figure that overshadows the analysts...

When UBS snapped up Credit Suisse for a cool $3.3 billion, the Swiss government sighed a breath of relief. The acquisition seemed to temporarily stave off a European banking crisis. However, the relief was short-lived. Now, with $9 billion in legal claims already pounding on the door, this supposed ...

Chia Network cut a third of its workforce today as the blockchain platform sought to reestablish a lost banking relationship, the company told CoinDesk, further delaying what Chia had hoped would be a rapid path to listing as a public company.

As financial tremors ripple across the globe, UBS has demonstrated once again its knack for strategy and survival, stepping forward to finalize a settlement with Mozambique amidst the ongoing Credit Suisse £2bn “tuna bond” debacle that plagued the African nation’s finances. Their recent agreement, a...

In an audacious reveal, Credit Suisse has forecasted a whopping $2.2 billion loss for the third quarter as repercussions emerge from the takeover by UBS. If ever there was a clear testament to the tumultuous terrain of bank mergers, this is it. The Rundown of Credit Suisse’s Losses Diving into the d...

The smoke hasn’t cleared from the firestorm surrounding Credit Suisse’s state-sanctioned rescue, and already, the embers of discord are lighting up. Bondholders, having been burnt to the tune of billions, have girded their loins for a courtroom showdown against none other than the Swiss state itself...

If you had told me a few months ago that UBS would pull off one of the most audacious deals in banking history, I might have laughed. But here we are. When UBS, Europe’s now second-most valuable bank, decided to swoop in and save the drowning Credit Suisse, many eyebrows shot up in surprise. Today, ...