UBS holds talks to save Credit Suisse report
Credit Suisse is in advanced talks to be acquired by its biggest Swiss rival, UBS, the Financial Times (FT) reported Saturday.
The country’s central bank received a $54 billion (€50 billion) bailout from the country’s central bank this week after investor confidence weakened due to years of scandals, multibillion-dollar losses and the collapse of Silicon Valley Bank.
But the surge in liquidity has failed to restore confidence in the 167-year-old lender, whose shares have lost more than 75% of their value in the past twelve months.
Source: DW
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.