UBS may have Credit Suisse under its wings, will its crowd follow?
With the successful completion of its acquisition of Credit Suisse, UBS now confronts the critical task of fulfilling its commitment to benefiting both shareholders and Swiss taxpayers in this government-led rescue operation. Marking the largest banking deal since the 2008 financial crisis, this merger has catapulted UBS into the position of an unparalleled global wealth […]
UBS seals Credit Suisse deal to be on the road of undeterred fame
UBS (UBSG.S) announced on Monday the successful completion of its emergency acquisition of troubled local competitor Credit Suisse (CSGN.S), resulting in the formation of a massive Swiss bank with a balance sheet worth $1.6 trillion. This landmark banking deal, the largest since the 2008 global financial crisis, is expected to present both challenges and numerous […]
BoC sets rates to two-decade peak with room for more
The Bank of Canada made a significant decision on Wednesday by raising its overnight rate to 4.75%, marking the highest level in 22 years. This move immediately sparked forecasts from markets and analysts, predicting another increase in the following month to address an overheating economy and stubbornly high inflation that has persisted. After a series […]
Timeline until: Credit Suisse stumbled and UBS went to its aid
UBS Group (UBSG.S) has announced that the official completion of its takeover of Credit Suisse (CSGN.S) is expected to take place as early as June 12, facilitated by the Swiss authorities in an effort to prevent a broader banking crisis. The culmination of this merger signifies the end of an era for Credit Suisse, a […]
Banks toss bets for high-jeopardy bonds
Investors who profited from high-risk bonds created after the financial crisis are now confronted with a new reality: they may not receive their payments. These bonds, known as AT1 bonds or perpetual bonds, were typically sold by banks with a repayment option triggered after five years. In the past, investors received their money back, and […]
Regional US Banks might sell commercial real estate loans
After exceeding important regulatory criteria for exposure to the ailing industry, several regional U.S. lenders might have to think about selling off the commercial real estate (CRE) borrowings at a significant discount, based on fresh data and similar market sources. Regional banks have decreased their exposure to this sector by making stricter standards and making way fewer loans. This has been especially true […]
UBS changes the CFO, crowns Koerner from CS as head
Ulrich Koerner, the CEO of Credit Suisse, will remain on when the Swiss rival is acquired by UBS Group (UBSG.S), according to a statement released on Tuesday. He will join a new executive team for the combined company. In addition to announcing a change in leadership, UBS also announced the promotion of Todd Tuckner to organiser chief […]
Five queries for the ECB about inflation that is overwhelming
Markets anticipate the European Central Bank to announce its seventh consecutive interest rate increase on Thursday due to the uncomfortably high level of inflation in the euro area. Hawks may feel comfortable arguing for a higher raise now that banks have stabilised somewhat following a March rout, and crucial inflation and bank lending statistics on Tuesday […]
Drastically declining Credit Suisse issues a warning about more risks
After alarmed clients withdrew billions from the bank, Credit Suisse Group (CSGN.S) recorded its largest yearly loss since the global financial crisis of 2008 and issued a caution that a further “significant” loss will occur this year.Having been hit by controversy after scandal, the bank experienced a dramatic increase in withdrawal in the fourth quarter, […]
Credit Suisse promotes CSFB; which results in increased sales
As the troubled lender looks to borrow money for the restructured firm, Credit Suisse Group AG (CSGN.S) is positioning its First Boston corporate finance arm to investors as a mega boutique and anticipates revenue soaring to as much as $3.5 billion, according to a company document.The marketing pitch, which has not previously been revealed, reveals […]