A sale to UBS, which could be signed as early as tonight, values Credit Suisse at about $7 billion less than its market value at Friday’s close. It comes after Credit Suisse shares recorded their worst weekly decline since the start of the coronavirus pandemic. This is despite an announcement that it would be able … Read more
Talks about bailing out Credit Suisse rolled in on Sunday as UBS asked for $6 billion from the Swiss government to cover costs. UBS is under pressure from Swiss authorities to take over its local rival in order to bring the crisis under control, two people with knowledge of the matter said. Regulators want a … Read more
It may seem like second nature to hide in cash during these volatile markets, but according to UBS, investors should buy bonds while yields are still good. The Federal Reserve has been on its rate hike campaign for about a year and many suspect it will start another rate hike next Wednesday. The tightening of … Read more
Cryptocurrencies took a beating this week as bank stocks plummeted and the global liquidity crisis rocked the stock market. For the week ending March 17, bitcoin finished up 34%, making it the cryptocurrency’s best week since January 2021 — marking the beginning of the institution-led bull run that year. Coin Metrics measures a week in … Read more
America’s largest retailers say organized retail crime has become a multi-billion dollar problem, but the effectiveness of their strategies to solve it and the validity of the data in general have been questioned. In recent years, companies such as Home Depot, Lowe’s, Walmart, Best Buy, Walgreens and CVS have sounded the alarm about organized gangs … Read more
BlackRock has denied a report that it is preparing a takeover bid for controversial Swiss lender Credit Suisse. The Financial Times had said the US asset manager was working on a bid to take over the bank, citing people familiar with the situation. UBS is also mooted as a potential buyer, with the FT reporting … Read more
Credit Suisse is undergoing a massive strategic overhaul to restore stability and profitability after a litany of losses and scandals, but markets and stakeholders still seem unconvinced. On Friday, the Financial Times reported that UBS is in talks to acquire all or part of Credit Suisse, citing several people involved in the talks. The bank … Read more
According to a new report from Swiss air quality technology company IQAir, about 90% of the world’s population will be affected by unhealthy air quality by 2022. IQAir measured air quality based on the concentration of lung-damaging airborne particles known as PM2.5. The report found that the top five most polluted countries in 2022 were … Read more
The federal government this week helped clients of Silicon Valley Bank and Signature Bank get their money back even if their deposits were uninsured. If other institutions fail in the future, customers may need to turn to FDIC insurance, Treasury Secretary Janet Yellen said this week. Importantly, FDIC insurance has limits. Here’s how to make … Read more
Investors breathed a sigh of relief after the Swiss National Bank said it would provide a liquidity reserve for Credit Suisse. Arnd Wiegmann/Stringer/Getty Images Check out the companies making headlines during midday trading. First Republic – Shares of the regional bank lost more than 20% even after the company received support from other financial institutions. … Read more