UBS completes takeover of Credit Suisse to form Swiss banking behemoth
12 June 2023 | 4:47 pm
The merger was finalised just under three months after a rapid agreement brokered by the Swiss government. Meanwhile, European leaders are exerting pressure on Tunisia to accept a $1.9 billion IMF bailout. In other news, financier George Soros is transferring control of his $25 billion empire to his 37-year-old son.
27 Aug 2018
27 Aug 2018
Fahd Iqbal, head of Middle East research at Credit Suisse Group AG, discusses Saudi Arabian stocks, and the country's decision to put the initial public offering of its giant oil company on hold. He also talks about Anraaj Group, the floundering Middle Eastern private equity firm, and Egypt stocks.
13 Jan 2019
Neelkanth Mishra, co-head of APAC equity strategy and India equity strategist at Credit Suisse, talks about Indian corporate banks.
2 Feb 2019
Ahmed Badr, managing director at Credit Suisse Group AG in Dubai, talks about oil, Saudi Arabia's infrastructure projects, and the country's stocks.
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Analysts at UBS Global Wealth Management say the near term disruption in the financial markets as a result of the coronavirus pandemic presents potentially attractive entry points to the related longer-term themes.
Shares of Credit Suisse have plunged to a record low, after its top shareholder declined to increase its stake. The slide has added to market jitters over the state of Europe's banking sector, although it's not directly related to the recent collapse of two American lenders. Also in the show: the UK government outlines its budget, as it tries to protect households and businesses from the ongoing cost-of-living crisis.
European markets have calmed down after Credit Suisse secured a lifeline of up to 50 billion Swiss francs from the country's central bank. The crisis is just the latest to hit the embattled lender, which has suffered a string of scandals and management issues. Jitters over the banking sector remain as the European Central Bank decides on the next rate hike.
Global stock markets plunged as they opened to the news of the shotgun buyout of Credit Suisse by rival UBS. Swiss authorities had hoped the takeover will calm investors.
Embattled bank Credit Suisse could be bought out by larger rival UBS, several media outlets reported. Politicians insist a European banking crisis is unlikely, but Swiss regulators reportedly want a deal before Monday.
US lawmakers say the embattled bank Credit Suisse has violated the terms of a plea deal, related to tax evasion. A two-year investigation suggests the lender has continued to conceal the bank accounts of wealthy Americans. Meanwhile, UBS has brought back former CEO Sergio Ermotti to lead its takeover of Credit Suisse.
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