The Swiss rage about the demise of Credit Suisse
[ad_1] When swiss regulators announced that ubs would rescue Credit Suisse from the brink of collapse on March 19th, the troubled bank’s shareholders seemed lucky to avoid a total loss on their investment. Yet if any of the 1,700 who entered Zurich’s Hallenstadion on April 4th for the firm’s final annual general meeting were relieved, […]
UBS saves Credit Suisse, creating a vast new bank
[ad_1] At a press conference in Bern on March 19th the chairmen of Credit Suisse and ubs, the two great rivals of Swiss banking, announced a momentous but unhappy union. After one weekend of haggling, and years of creeping despair, the merger valued Credit Suisse at around SFr3bn ($3.2bn). A 167-year-old institution is dead. Global […]