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The Latest Breaking News from UBS

‘I am truly sorry’: Credit Suisse chairman grovels with police security at his side as he apologizes for wiping out billions in shareholder value

“I apologize that we were no longer able to stem the loss of trust that had accumulated over the years, and for disappointing you,” Axel Lehmann said at the bank’s final shareholder meeting.

Fortune

Financial turmoil will be felt for years, says JP Morgan boss

Jamie Dimon says downfalls of Silicon Valley Bank and Credit Suisse have undermined confidence

The Guardian - UK

Furious Credit Suisse investors say bank’s board should be ‘put behind bars’

Shareholders lash out during final AGM as boss apologises for crisis that led to takeover of lender by UBS

The Guardian - UK

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Credit Suisse shareholders get last crack at annual meeting

Once-venerable Credit Suisse could be heading into a firestorm as shareholders meet for what is shaping up to be their last crack at managers

The Independent UK

Delaying NatWest share sales doesn’t matter. Just get the best price

A formal date can concentrate minds, yet the priority must be the achievement of value for the public purse

The Guardian - UK

Swiss prosecutors probe Credit Suisse ahead of UBS takeover

The Swiss attorney general’s office says it has opened a probe into the events surrounding embattled bank Credit Suisse, which is to be taken over by rival UBS

The Independent UK

Rebalance your portfolio

Investors have been keeping an eye on assets offering a decent return this year amid global market volatility and an economic slowdown.

Bangkok Post

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Switzerland’s attorney general to investigate Credit Suisse takeover

Inquiry to focus on whether emergency state-backed UBS takeover breached criminal law

The Guardian - UK

Credit Suisse takeover hits heart of Swiss banking, identity

Analysts say the UBS takeover of embattled rival Credit Suisse has shaken Switzerland’s self-image and dented its reputation as a global financial center

The Independent UK

'Stakeholderism' is a reaction to rising statism

The UBS-Crédit Suisse merger is a very Swiss tale–but it shows how governments are reclaiming power over the economy.

Fortune

Asia stocks mostly rise after Wall St rally, bank fears ease

Asian shares are mostly higher following a rally on Wall Street as worries over banks following the collapses of several lenders in recent weeks recede

The Independent UK

How rising interest rates are exposing bank weaknesses

Recent collapses in US and Europe highlight new threats to lenders and upend conventional wisdom

Financial Times

Credit Suisse violates deal on rich clients’ tax evasion

The Senate Finance Committee finds that troubled Credit Suisse failed to report secret accounts held by U.S. citizens trying to avoid paying taxes.

Chicago Sun-Times

Stocks Rally as Risk Appetite Returns

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Wednesday closed up +1.42%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +1.00%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +1.87%. Stock indexes Wednesday rallied moderately as waning banking concerns...

Barchart

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France 24

US accuses Credit Suisse of violating tax evasion deal

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…

Barchart

Strength in Tech Stocks Boosts Market Sentiment

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.99%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.66%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.36%. U.S. stock indexes this morning are moderately higher. Strength...

Barchart

Markets Today: Stock Indexes Climb as Tech Strength Buoys Sentiment

Morning Markets March S&P 500 futures (ESM2 3) this morning are up +0.79%, and March Nasdaq 100 E-Mini futures (NQM2 3) are up +0.82%. U.S. stock index futures this morning are moderately higher. Technology stocks are climbing in pre-market trading to lead stock index futures higher after Micron Technology forecasted...

Fortune

Switzerland brings back its most successful banker to steer the merged UBS-Credit Suisse behemoth

Heeding the "call to duty," Lugano native Sergio Ermotti returns to his old post as CEO of the Swiss wealth manager to navigate it through choppy waters.

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The Guardian - UK

UBS brings back former chief to oversee Credit Suisse takeover

Sergio Ermotti, who stepped down in 2020, will rejoin Swiss bank as it prepares to absorb troubled rival

The Independent UK

UBS brings back former CEO with Credit Suisse deal ahead

UBS says it’s bringing back former CEO Sergio Ermotti to lead the Swiss bank as it moves forward with a government-orchestrated plan to take over struggling rival Credit Suisse

The Guardian - UK

Credit Suisse aided tax evasion, says US Senate committee; Bank of England reports UK banks are ‘resilient’ – as it happened

US Senate committee’s findings come on the day UBS appoints ex-boss Sergio Ermotti as new CEO to steer Credit Suissse takeover

Bangkok Post

Ermotti back as UBS chief for Credit Suisse takeover

ZURICH: Sergio Ermotti will return as CEO of Swiss banking giant UBS to pilot the controversial acquisition of troubled rival Credit Suisse, its board announced Wednesday.

StockNews.com

Why These 3 High Volume Financial Stocks Are Not Worth Buying

Volumes have soared with bottom fishers expecting gains through the residual value of sunken financial stocks Credit Suisse (CS), First Republic (FRC), and Silvergate (SI). However, with deflating asset prices amid increasing interest rates, it would be wise to avoid them altogether. Continue reading….

Bangkok Post

Markets spooked by Deutsche Bank

Analysts have raised concerns about the growing risk of a Deutsche Bank collapse, reigniting fears about a widening banking crisis, though they said the potential impact on the Thai banking sector would be limited.

The Guardian - UK

Saudi National Bank chair resigns after Credit Suisse comments

Ammar Al Khudairy’s remarks about Swiss lender spurred investor panic that led to emergency takeover

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