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The Latest Breaking News from Credit Suisse

UBS to buy Credit Suisse for nearly $3.25B to calm turmoil

Swiss President Alain Berset said banking giant UBS is acquiring its smaller rival Credit Suisse for almost $3.25 billion in an effort to avoid further market-shaking turmoil in global banking

The Independent UK

Explainer: are we in a banking crisis?

The below-market sale of Credit Suisse has spooked investors but other markets have held up well and central banks are working to keep money flowing

The Guardian - AU

Asian stocks sink after Credit Suisse takeover

Asian stock markets are lower after Swiss authorities arranged the takeover of troubled Credit Suisse amid fears of a global banking crisis ahead of a Federal Reserve meeting to decide on more possible interest rate hikes

The Independent UK

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Credit Suisse news – latest: Asia markets down after UBS offers to buy crisis-hit bank

UBS’s merger with Credit Suisse has been welcomed internationally

The Independent UK

RBA says it’s harder to break the bank in Australia

Reserve Bank assistant governor Christopher Kent says Australian banks are on a firm footing despite strained conditions in global financial markets.

The New Daily

Asian stocks drop despite Credit Suisse buyout, central banks' pledge

Hong Kong (AFP) - Asian equities sank Monday following a sell-off in New York as investors fret over the financial sector, despite central banks' pledges to provide liquidity to troubled lenders and news that UBS had taken over embattled Credit Suisse.

AFP

Japan, Singapore and Hong Kong downplay Credit Suisse fallout

Asian financial authorities say Swiss lender’s takeover not likely to affect stability of local banks.

Al Jazeera

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UBS takeover of Credit Suisse: the main points

Zurich (AFP) - The takeover of Credit Suisse by UBS will create a banking giant unprecedented in the history of Switzerland, where banking is a core part of the national identity.

AFP

RBA says Australian banks strong despite global turmoil

Reserve Bank assistant governor Christopher Kent says Australian banks are on a firm footing despite strained conditions in global financial markets.

AAP

UBS-Credit Suisse Merger May Lead to Massive Layoffs

The merger of two Swiss banks will result in layoffs in Switzerland and the U.S.

The Street

UK banking system ‘safe and sound’ after Credit Suisse buyout, Bank of England says

Threadneedle Street has days before next interest rates call, as central banks signal more turmoil could follow

The Independent UK

UBS takes over Credit Suisse in move to calm the markets

Bern (Switzerland) (AFP) - UBS is set to take over its troubled Swiss rival Credit Suisse for $3.25 billion following weekend crunch talks aimed at stopping the stricken bank from triggering a wider international banking crisis.

AFP

Credit Suisse failure follows years of scandal and mistrust—with an Ohio mattress company playing a role

“We’ve watched the bank lurch from scandal to scandal for so long that it’s hard to recall all of them at this point.”

Fortune

Credit Suisse: a bank sunk by scandals

Zurich (AFP) - Credit Suisse was a pillar of Swiss banking that rapidly collapsed, its foundations fatally undercut by repeated missteps that left it shaky when storms in the banking sector began swirling.

AFP

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ABC News

ASX dives in late afternoon trade as moves to quell banking crisis fail to enthuse investors

Australia was the first major financial centre to react to UBS's takeover of Credit Suisse and coordinated action by central banks to pump more US dollars into the global banking system — and the response was hardly enthusiastic.

Newsroom.co.nz

Credit Suisse is the car crash in its own Bonfire of the Vanities

The name's Bond – unhedged Treasury bond. Jonathan Milne argues that bond traders have again become sexy, for all the wrong reasons.

Axios

UBS to buy Credit Suisse as banking fears persist

Swiss regulators manage takeover of 167-year-old European banking giant.

Tribune News Service

Global central banks endorse Switzerland’s Credit Suisse deal

Central banks around the world lined up to hail Credit Suisse’s rescue, and emphasized the strength of the lenders under their remit.

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Chicago Sun-Times

UBS to buy Credit Suisse for nearly $3.25 billion to calm turmoil in banking industry

Credit Suisse’s buyout by UBS was arranged by banking regulators worried that Credit Suisse’s failure could have repercussions similar to the collapse of Lehman Brothers.

The Street

Fed Leads Global Liquidity Boost as Bank Crisis Deepens

Swap lines are 'an important liquidity backstop to ease strains in global funding markets,' the Fed said.

The Street

Credit Suisse Surrenders

The former European banking flagship will be bought for the modest sum of $3 billion by its eternal rival and compatriot UBS.

AFP

UBS in $3.25bn takeover of Credit Suisse

Bern (Switzerland) (AFP) - UBS will take over its troubled Swiss rival Credit Suisse for $3.25 billion following crunch talks Sunday aimed at stopping the stricken bank from triggering a wider international banking crisis.

The Street

UBS Acquires Credit Suisse for More Than $3 Billion

Swiss authorities announced on Sunday that UBS will acquire its rival to restore market confidence.

The Guardian - AU

Morning Mail: Amazon acts on party drug loophole, Credit Suisse takeover deal, Perrottet talks pokies

Vladimir Putin visits Mariupol, Marles says Iraq war opponents have been vindicated and NSW election nears

Crikey

Trump doth protest too much

Former US president Donald Trump has called on his followers to ‘PROTEST, PROTEST, PROTEST!!!’ against his supposed imminent arrest, and Defence Minister Richard Marles says Australia has not committed to joining the US in any conflict in Taiwan.

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