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France 24

Yuka ROYER

Market rout pauses after Swiss bank Credit Suisse gets €51 billion lifeline

Credit Suisse United States ByteDance the European Central Bank TikTok Beijing Washington D.C.

BUSINESS DAILY © FRANCE 24

European markets have calmed down after Credit Suisse secured a lifeline of up to 50 billion Swiss francs from the country's central bank. The crisis is just the latest to hit the embattled lender, which has suffered a string of scandals and management issues. Jitters over the banking sector remain as the European Central Bank decides on the next rate hike. Plus, Beijing has reacted furiously to Washington giving TikTok's Chinese owner ByteDance an ultimatum: sell up or face a total ban in the US market.

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