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UBS to cut more than half of workforce at Credit Suisse: Report
Analysts had warned that huge job losses were likely because of the overlapping activities at two of the world's most important banks.
Published on Jun 28, 2023 08:27 AM IST
AFP |
Over $68 billion withdrawn from Swiss' Credit Suisse ahead of UBS merger
Credit Suisse-UBS merger: Switzerland's long-time second largest bank saw 61.2 billion Swiss francs ($68.6 billion) withdrawn in the first quarter alone.
Published on Apr 24, 2023 04:25 PM IST
AFP |
Credit Suisse accused of obstructing probe into Nazi accounts investigation
Reports show, Credit Suisse seems to have maintained accounts for at least 99 individuals who were senior Nazi officials or members of Nazi-affiliated groups.
Published on Apr 19, 2023 05:07 PM IST
Bloomberg | | Posted by Animesh Chaturvedi
Credit Suisse rescue package rejected by Swiss parliament
Switzerland's parliament rejected on Wednesday the government's 109 billion Swiss francs ($120.82 billion) aid for Credit Suisse's merger with UBS.
Published on Apr 12, 2023 10:16 PM IST
Reuters |
Ex-RBI governor Raghuram Rajan says banking system headed for more trouble
Rajan said a decade of easy money and a flood of liquidity from central banks has caused an “addiction” and a fragility within the financial system.
Published on Apr 07, 2023 12:07 PM IST
Bloomberg | | Posted by Aryan Prakash
US bank runs hold key lessons for India
Indian regulators should not be blind to risks in the underbelly of the system. And bank boards must challenge bank managements on their business models
Updated on Apr 05, 2023 08:05 PM IST
Duvvuri Subbarao
Swiss financial regulator defends Credit Suisse takeover by UBS
Swiss government officials, including the financial regulator, hastily orchestrated a USD 3.25 billion takeover of Credit Suisse by UBS on March 19.
Published on Apr 05, 2023 04:41 PM IST
PTI | | Posted by Singh Rahul Sunilkumar
'I apologise,' Credit Suisse chairman admits failure to shareholders
“The bank (Credit Suisse) could not be saved,” chairman Axel Lehmann said, and only two options awaited — a deal or bankruptcy.
Published on Apr 04, 2023 06:26 PM IST
AP | | Posted by Singh Rahul Sunilkumar
UBS-Credit Suisse merger anticipated to cause over 30,000 jobs loss
The takeover by UBS of Credit Suisse was hastily arranged by the Swiss government on March 19 to prevent a global financial meltdown.
Published on Apr 02, 2023 04:10 PM IST
AFP | | Posted by Singh Rahul Sunilkumar
Nestle to examine banking relationships following Credit Suisse downfall
The maker of Nescafe instant coffee and KitKat chocolate bars raised prices by 8.2% last year, but that did not fully offset the impact of increased ingredient costs on margins.
Published on Mar 28, 2023 02:56 PM IST
Reuters | | Posted by Yagya Sharma
Credit Suisse accessed billions in liquidity last weekend, says Swiss minister
Swiss bank Credit Suisse had said last week it intended to borrow up to 50 billion Swiss francs from the country's central bank to boost its liquidity
Published on Mar 26, 2023 12:10 PM IST
Reuters | | Posted by Aryan Prakash
UBS offers retention packages to Credit Suisse Asia team: Report
UBS earlier on Sunday said it would pay 3 billion Swiss francs ($3.23 billion) for 167-year-old Credit Suisse and assume at least $5.4 billion in losses in a deal backed by a massive Swiss government guarantee and expected to close by the end of 2023.
Published on Mar 24, 2023 12:25 PM IST
Reuters | | Posted by Singh Rahul Sunilkumar
Credit Suisse rescue sends relief, but First Republic shares slump continues
Less than a week after large U.S. banks pumped $30 billion in deposits into the midsized U.S. lender, investors dumped First Republic on worries that infusion of capital would not be enough. Ratings agency S&P Global also downgraded it deeper into junk status on Sunday, citing liquidity risks.
Published on Mar 21, 2023 10:30 AM IST
Reuters | | Posted by Singh Rahul Sunilkumar
Who are the winners and losers of UBS-Credit Suisse deal
UBS’s chief executive officer will see the bank’s wealth and asset management invested assets soar to about $5 trillion.
Published on Mar 20, 2023 05:10 PM IST
Bloomberg |
Meet Dixit Joshi, the Indian-origin CFO of Credit Suisse
Dixit Joshi had taken over as Credit Suisse's chief financial officer in October 2022.
Updated on Mar 20, 2023 03:56 PM IST
UBS agrees to buy Credit Suisse for more than $2 billion to end crisis: Report
The Swiss National Bank has agreed to offer a $100 billion liquidity line to UBS as part of the deal.
Updated on Mar 20, 2023 03:36 AM IST
Bloomberg |
Credit Suisse opposes ‘too low’ offer of $1 bn by UBS: Report
The UBS offer for Credit Suisse was communicated on Sunday with a price of 0.25 francs a share to be paid in stock.
Published on Mar 19, 2023 06:56 PM IST
Bloomberg |
Credit Suisse to assess survival options as regulators push for UBS merger
After wild swings in the bank's share price this week, Credit Suisse had lost a quarter of its market value by Friday night.
Published on Mar 18, 2023 06:48 PM IST
Reuters |
UBS in talks to acquire embattled Credit Suisse: Report
Switzerland's second largest bank Credit Suisse is under pressure following the collapse of two American banks which rocked the banking sector. By Friday, its shares had dropped by eight per cent.
Published on Mar 18, 2023 09:11 AM IST
AFP | | Posted by Aryan Prakash
Credit Suisse overstated financial prospects to shareholders, charges lawsuit
The suit was filed on Credit Suisse Group AG by the Rosen Law Firm, which specializes in representing individual shareholders in such suits and was also first to sue Silicon Valley Bank after it was put into receivership last week.
Published on Mar 17, 2023 10:48 AM IST
Bloomberg | | Posted by Singh Rahul Sunilkumar
Credit Suisse crisis bigger worry for India than Silicon Valley Bank: Report
Credit Suisse owns more than 200 billion rupees ($2.4 billion) of assets in India, making it the 12th largest offshore lender. Loans form 73% of its total liabilities in the South Asian nation, with the majority of them of a short tenure.
Published on Mar 16, 2023 01:10 PM IST
Bloomberg | | Posted by Singh Rahul Sunilkumar
Credit Suisse gets $54 bn loan from Swiss central bank as shares slump
Credit Suisse is the first major global bank to be given an emergency lifeline since the 2008 financial crisis and its problems have raised serious doubts over whether central banks will be able to sustain their fight against inflation with aggressive interest rate hikes.
Published on Mar 16, 2023 09:32 AM IST
Reuters | | Posted by Singh Rahul Sunilkumar
After Silicon Valley Bank failure, fears over this major global bank's collapse
Signs of stability in banking stocks, that have tanked in the past week, following the collapse of Silicon Valley Bank, soon paved way for renewed selling as Credit Suisse shares fell to fresh record lows.
Updated on Mar 15, 2023 08:12 PM IST
Reuters | | Posted by Ritu Maria Johny
'Swissleaks' investigation exposes how Credit Suisse bank handled dirty money
Credit Suisse rejected the "allegations and insinuations", saying that many of the issues raised were historical, some dating back as far as the 1940s.
Published on Feb 21, 2022 08:36 AM IST
AFP |
Credit Suisse pays $600 Million to settle US mortgage case
The plaintiff, MBIA Insurance Corp., said late Thursday that it had reached an agreement, after a post-trial court decision that ordered the Swiss bank to pay about $604 million in damages. The settlement means there will be no appeal trial.
Published on Feb 12, 2021 08:28 PM IST
Bloomberg |
Credit Suisse pledges funds for healthcare boost in Mumbai, Pune
Additionally, Credit Suisse India employees will contribute to providing food and personal care kits to communities of dailywage earners and their families who have been among the worst affected.
Updated on Apr 26, 2020 07:44 PM IST
Hindustan Times, Pune | HT Correspondent, Pune
Roger Federer to donate to Australia bushfires appeal
The 20-time Grand Slam winner and current world number three said he would pledge the funds at a charity match he will take part in later this week to raise funds for the appeal ahead of the Australian Open starting on January 20.
Updated on Jan 13, 2020 10:14 PM IST
Melbourne | Agence France-Presse
‘Appreciate reminders of my responsibility’ - Roger Federer responds to Greta Thunberg’s criticism over climate crisis
Several protesters gathered outside the court in Lausanne, and some of them carried banners which read: “Credit Suisse is destroying the planet. Roger, do you support them?”
Updated on Jan 12, 2020 05:24 PM IST
Hindustan Times, New Delhi | HT Correspondent
Merger of 10 PSU banks unlikely to revive credit flow
The merger is unlikely to meaningfully revive the flow of credit to the liquidity pressed NBFCs, the report added. Recent experience of SBI and Bank of Baroda indicates focus on integration impacts near-term growth, the report said.
Published on Sep 03, 2019 12:02 PM IST
livemint, Mumbai | Shayan Ghosh
How representative are our representatives?
According to the Association for Democratic Reforms (ADR), nearly a fifth or 19% of the close to 8,000 candidates contesting the 2019 polls have criminal cases pending against them, while 29% have assets worth Rs 1 crore or more. Candidates are also far richer than the voters they represent. For example, 50% candidates contesting the 2019 elections own net assets worth less than Rs 23.1 lakh.
Updated on May 14, 2019 10:24 PM IST
Hindustan Times | HT Correspondent
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