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The Latest Breaking News from UBS

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

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

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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

‘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

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

Could isolated failures herald another global banking crisis?

The Independent UK

JPMorgan CEO Jamie Dimon reportedly leading discussions on First Republic rescue

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

Fortune

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

The Guardian - UK

Credit Suisse and SVB: Is global banking in crisis?

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

Al Jazeera

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.

Bangkok Post

Stock Market Today: Stocks Rise Ahead of Fed

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

Kiplinger

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.

WEKU

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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

Evening Standard

Why are banks collapsing? Signature Bank and SVB fail as UBS buys Credit Suisse

The aftermath of the SVB collapse led to heavy losses on the London Stock Exchange and a sharp fall in US banking stocks

Evening Standard

OPINION - The Leader podcast: How banking panic could hit London

More global banking drama. The Swiss banking giant UBS has acquired its rival Credit Suisse for £2.6 billion in an emergency rescue deal.

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Fortune

Credit Suisse collapsed weeks after receiving a clean bill of health from regulators

The Swiss lender with nearly $575 billion in total assets collapsed at first slowly, then all at once.

The Guardian - UK

What are AT1 bank bonds – and why are Credit Suisse’s wiped out?

Global banking system is under pressure amid row over who should lose out first when a bank struggles

The Conversation

Interest rates: why the Federal Reserve and Bank of England should still raise them (a bit)

What will the Federal Reserve and Bank of England do with benchmark interest rates in the wake of the banking crisis? Traditionally, controlling inflation has been the prime mandate of central banks.

The Independent UK

Will the Credit Suisse bank takeover calm financial fears?

Globally connected Credit Suisse has been taken over by rival UBS at the urging of Swiss authorities to avoid a collapse that could have sent shock waves through the global economy

The Conversation

Four ways to protect your small business from a banking crisis

The banking sector is currently experiencing great strain, which has resulted in several bank bailouts – most recently UBS’ deal to buy its Swiss competitor Credit Suisse following a collapse in confidence in the latter. HSBC’s acquisition of the UK arm of the collapsed Silicon Valley Bank the previous week…

Evening Standard

OPINION - Window of opportunity to preserve liveable climate rapidly closing

The Metropolitan Police. The Democratic Unionist Party. Xi Jinping in Moscow. Boris Johnson at the Privileges Committee. UBS acquiring Credit Suisse. Beavers marauding around Ealing. There is always something going on that seems more urgent than climate change. More ‘newsy’. I mean, what’s another UN report or additional tonne of…

The Guardian - UK

Swiss solve one problem at Credit Suisse, but create another for bondholders

Decision over bonds rips up convention and could undermine confidence in banking system

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