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The Latest Breaking News from Credit Suisse

Switzerland’s national pride dealt heavy blow by the merger of its banking titans

‘A monster is born’, say local press, as Credit Suisse takeover by UBS creates bank twice the size of the Swiss economy

The Guardian - UK

Swiss order Credit Suisse to suspend paying some bonuses

Credit Suisse had earlier written in an internal memo that it would pay outstanding bonuses as it tries to stick to "business as usual."

Fortune

Credit Suisse is an anomaly: why Australia and New Zealand are safe from 'bank run' contagion

There has been a lot of talk about the risk of financial contagion following the collapse of California’s Silicon Valley Bank. Perhaps too much talk.

The Conversation

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Yellen says banking stabilising, US may intervene more if needed

WASHINGTON - The United States banking sector is "stabilizing" after the recent failures of Silicon Valley Bank and Signature Bank rattled the industry, Treasury Secretary Janet Yellen told a lenders' conference Tuesday, as leaders seek to calm global worries.

Bangkok Post

Swiss suspends bonus payouts to Credit Suisse staffers

Switzerland’s government says it’s ordering Credit Suisse to temporarily suspend bonuses for employees after orchestrating a plan for the No. 2 Swiss bank to be taken over by rival UBS

The Independent UK

The SVB collapse 'contagion effect' will make it harder for startups, and more banks may fall

The SVB collapse didn't just leave the banking sector in disarray; technology startups are bracing for a harder time, and there are fears the global economy is at risk of recession.

ABC News

Credit Suisse rescue package shows why our banks shouldn't pay big dividends

This is why bank shareholders shouldn't expect such big returns – their risk is lower. In what other industry, asks Jonathan Milne, would they be rescued by regulators?

Newsroom.co.nz

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Thousands of UK jobs at risk after UBS takeover of Credit Suisse

Investment banking roles expected to be worst hit at Credit Suisse in London

The Guardian - UK

How changing banks' corporate social responsibility reporting could prevent future financial failures

The recent collapse of Silicon Valley Bank (SVB) – the failure of the biggest US lender since the 2008 global financial crisis – has created waves across the global banking system. The subsequent collapse of another US institution, Signature Bank, the US$30 billion (£24.5 billion) lifeline given to First Republic…

The Conversation

Budgets squeeze putting families off house buying

Stamp duty receipts in February, down 27 per cent compared to the same month last year

Evening Standard

‘Monster’ bank must not become too big to save

City Comment: The concern now must be that the banking is in the hands of one gigantic institution

Evening Standard

Markets hold their nerve in Europe as key interest rate decisions loom

Investors are looking ahead to a brace of potentially explosive interest rate decisions later in the week

Evening Standard

To prevent more bank runs, the Fed should pause rate hikes

Inflation is receding, albeit slowly, so there’s no reason to risk more financial tumult. Will the central bank see it that way?

The Guardian - US

Saudi National Bank Says Credit Suisse Crisis Has No Impact on Growth Plans

In light of the repercussions of the crisis experienced by the Credit Suisse Group, the second largest bank in Switzerland, which has been operating for 167 years, the Saudi National Bank announced on Monday that any change in the fair value of its investment in the Swiss group would not…

Asharq Al-Awsat

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The Independent UK

What happened to Credit Suisse and why are banks needing bailouts again?

Could isolated failures herald another global banking crisis?

Fortune

JPMorgan CEO Jamie Dimon reportedly leading discussions on First Republic rescue

JPMorgan's 2008 rescues ended up costing the bank $19 billion.

The Guardian - UK

Until bankers have more to lose themselves, collapses like SVB and Credit Suisse will keep happening

Those at the top need to have skin in the game – and know that risky decisions they make will affect them too, says economist Natacha Postel-Vinay

The Guardian - UK

Jobs at risk after UBS takeover of Credit Suisse; FTSE 100’s biggest rally of 2023 – as it happened

UBS’s rescue of Credit Suisse is expected to result in tens of thousands of job cuts, while bank shares are recovering today on both sides of Atlantic

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Al Jazeera

Credit Suisse and SVB: Is global banking in crisis?

Economists caution against comparisons to 2007-08 bank failures despite persistent market turmoil.

The Independent UK

Asian stocks rise ahead of Fed's next interest rate decision

Asian stock markets are higher ahead of a Federal Reserve decision on another possible interest rate hike amid worries about global banks

Bangkok Post

Gold skyrockets as banks still wobble

Gold prices passed US$2,000 for the first time in more than a year on Monday as UBS's recent takeover of its Swiss rival Credit Suisse for $3.2 billion failed to assure investors about ongoing bank woes.

Kiplinger

Stock Market Today: Stocks Rise Ahead of Fed

Bank headlines dominated another choppy day of trading on Wall Street.

WEKU

First Republic Bank shares sink to another record low, but stock markets are calmer

Shares in the midsized lender continued to tumble as fears grow about First Republic's financial health grow even after it received a $30 billion lifeline from its bigger rivals last week.

The Independent UK

Banking system ‘safe’ says Downing Street – but job losses loom at Credit Suisse

Credit Suisse employs around 5,500 people in the UK

Daily Mirror

Banking turmoil questions answered: What it means for you, your mortgage and your pension

Financial authorities are now trying to prevent problems spreading throughout the global banking system and a repeat of the disastrous financial meltdown of 2008

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