UBS/Credit Suisse: shotgun wedding aims to forestall contagion
This is a messy, ugly transaction that nobody really wants — but it’s also necessary
| Date: | Mar. 19, 2023 10:23 AM ET |
| Link: | More at "Financial Times" |
| Source: | UK homepage - ft.com |
| Category: | Business |
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'Shotgun wedding': What the UBS rescue of Credit Suisse means for global markets
Despite bold proclamations about a return to stability, the sale of Credit Suisse to UBS does not appear to have laid to rest contagion concerns.
Mar. 20, 2023 - US Top News and Analysis - Business -
Shotgun wedding ends Credit Suisse turmoil
Also in this newsletter: Lagarde says ECB ‘ready to respond’, UN update on global warming, Hollywood strike fears
Mar. 20, 2023 - World - World -
Swiss under fire for shotgun marriage of Credit Suisse and UBS
Bondholders and international regulators criticise state decision to prioritise shareholders amid threat of legal action
Mar. 20, 2023 - UK homepage - Business -
Outside the Box: Shotgun bank weddings like UBS and Credit Suisse are supposed to protect the financial system, but these rescues come with unseen risks
In this bank panic of 2023, strong banks are being asked to save the day, but giving them failed banks only adds uncertainty.
Mar. 23, 2023 - MarketWatch.com - Top Stories - Business -
UBS credit outlook revised to negative by S&P on concerns about risk in Credit Suisse deal
S&P Global Ratings said it expects the integration of large parts of Credit Suisse's investment banking activities to carry material execution risk.
Mar. 20, 2023 - MarketWatch.com - Top Stories - Business -
SVB, Credit Suisse and contagion: When ignorance isn’t bliss
Policymakers have an obligation to be realistic in order to serve the public good, rather than to pursue some poorly defined ideology and damn the consequences.
Mar. 20, 2023 - Just In News | The Hill - Politics -
'The weakest links are cracking': Investors consider possible Credit Suisse contagion
Even before the shock collapse of two U.S. banks, Credit Suisse had faced a slew of problems, including money laundering charges and spying allegations.
Mar. 16, 2023 - US Top News and Analysis - Business -
Shares of Credit Suisse plunge 63%, UBS down 14% after news that UBS will buy Credit Suisse to stave off market turmoil
Shares of Credit Suisse plunge 63%, UBS down 14% after news that UBS will buy Credit Suisse to stave off market turmoil
Mar. 20, 2023 - ABC News: International - World -
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 bondholdersWhat are AT1 bank bonds – and why are Credit Suisse’s wiped out?First Republic’s shares drop after downgraded credit ratingNils ...
Mar. 20, 2023 - The Guardian - World - United kingdom -
Majority of Swiss want new UBS-Credit Suisse mega bank split up
Results of poll add momentum to calls for a review of the forced merger and for the clawing back of bonuses
10 hours ago - UK homepage - Business -
Majority of Swiss want new UBS-Credit Suisse mega bank split up
Results of poll add momentum to calls for a review of the forced merger and for the clawing back of bonuses
10 hours ago - World - World -
Head of Credit Suisse talks of his profound sadness over UBS takeover
Ulrich Körner acknowledges an ‘emotional and challenging week’ after deal was forced through by Swiss authoritiesBusiness live: latest coverageDeutsche Bank leads sell-off in European bank sharesThe chief executive of stricken Credit Suisse has ...
10 hours ago - The Guardian - World -
Culture clash: the challenge of uniting fierce rivals UBS and Credit Suisse
Investment banking is at the heart of divisions between the two Swiss lenders
Mar. 23, 2023 - UK homepage - Business -
The Lex Newsletter: UBS overlap will hit Credit Suisse staff hard in Asia
New owner of struggling Swiss bank is expected to cut jobs more heavily in the region than elsewhere
Mar. 22, 2023 - World - World -
What the takeover of Credit Suisse means for UBS
Swiss banking group has plans for each unit of its defunct rival
Mar. 22, 2023 - World - World -
What the takeover of Credit Suisse means for UBS
Swiss banking group has plans for each unit of its defunct rival
Mar. 22, 2023 - UK homepage - Business -
Thousands of UK jobs at risk after UBS takeover of Credit Suisse
Investment banking roles expected to be worst hit at Credit Suisse in LondonThe fate of thousands of jobs in London’s financial district is in doubt after the emergency merger of Swiss banks UBS and Credit Suisse.As concerns over the scale of job ...
Mar. 21, 2023 - The Guardian - World - United kingdom -
'A financial banana republic': UBS-Credit Suisse deal puts Switzerland's reputation on the line
The demise of banking giant Credit Suisse sent shock waves through financial markets and appears to have dealt a blow to Switzerland's reputation for stability.
Mar. 21, 2023 - US Top News and Analysis - Business -
Tens of thousands of jobs at risk after UBS takeover of Credit Suisse
Domestic Swiss business and investment bank set to bear brunt of cuts
Mar. 21, 2023 - UK homepage - Business -
How the Swiss ‘trinity’ forced UBS to save Credit Suisse
The takeover of its local rival could end up being a generational boon for UBS. But the government-orchestrated deal has angered many investors
Mar. 20, 2023 - UK homepage - Business -
UBS shares reverse losses, Credit Suisse craters 55% after takeover deal
UBS agreed to buy Credit Suisse as part of a cut-price deal designed to alleviate panic in the banking sector.
Mar. 20, 2023 - US Top News and Analysis - Business -
Credit Suisse-UBS deal offers hope, but bank doubts persist
Credit Suisse shares have plunged after Swiss authorities cut a deal with its bigger rival UBS to acquire the troubled bank at a marked-down price
Mar. 20, 2023 - ABC News: International - World -
Credit Suisse shares slide after UBS buys it for $3.2 billion
"Only time will tell how this shotgun wedding is received," one analyst said of merger uniting the Swiss banks.
Mar. 20, 2023 - Home - CBSNews.com - Top stories -
Credit Suisse shares slide after UBS buys it for $3.2 billion
"Only time will tell how this shotgun wedding is received," one analyst said of merger uniting the Swiss banks.
Mar. 20, 2023 - World - CBSNews.com - World -
Credit Suisse promises to pay bonuses to staff despite UBS rescue
Swiss bank had SFr360mn of contingent capital awards outstanding at the end of 2022
Mar. 20, 2023 - UK homepage - Business