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The Latest Breaking News from Credit Suisse

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

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…

France 24

UBS former CEO returns to handle 'huge' Credit Suisse takeover risks

Zurich (AFP) - UBS announced Wednesday it will bring back former chief executive Sergio Ermotti to handle the huge risks involved in the Swiss banking giant's controversial absorption of troubled rival Credit Suisse.

AFP

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Credit Suisse concealed more than $700 mn from US govt: Senate

Washington (AFP) - Embattled Swiss banking giant Credit Suisse has failed to disclose more than $700 million in previously undeclared accounts since 2014, in violation of a plea deal with the US Department of Justice, a Senate committee said Wednesday.

AFP

This Is What Killed Credit Suisse

What was the No. 2 Swiss bank was acquired on March 19 for the modest sum of $3.24 billion by its rival and peer UBS.

The Street

Stock markets climb on easing bank fears, Alibaba split

New York (AFP) - Stock markets advanced on Wednesday as fears of a banking crisis fade further in investors' rearview mirror while Chinese tech giant Alibaba's breakup plans boosted most Asian shares.

AFP

The Interview That Killed Credit Suisse

What was the No. 2 Swiss bank was acquired on March 19 for the modest sum of $3.24 billion by its rival and peer UBS.

The Street

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Stock markets jump on easing bank fears, Alibaba split

London (AFP) - Stock markets advanced on Wednesday as fears of a banking crisis fade further in investors' rearview mirror while Chinese tech giant Alibaba's breakup plans boosted most Asian shares.

AFP

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.

Fortune

Senate: Credit Suisse still helps rich Americans evade taxes

U.S. lawmakers say Credit Suisse has kept allowing wealthy Americans to dodge tax payments

The Independent UK

Stock markets jump on easing bank fears, Alibaba restructure

London (AFP) - Stock markets rose solidly Wednesday on easing fears of contagion from the banking crisis.

AFP

Ermotti back as UBS CEO to handle Credit Suisse takeover risks

AFP

Stocks Firmly Higher, UBS CEO Returns, Micron Earnings, Jamie Dimon Deposition, Lululemon Soars - Five Things To Know

Stock futures higher as bank worries ease, tech gets boost; UBS leaps as former CEO Sergio Ermotti returns to oversee Credit Suisse purchase; Micron jumps as AI demand forecast helps offset near-term revenue slump; JPMorgan CEO Jamie Dimon to be deposed in Jeffrey Epstein lawsuit and Lululemon soars after Q4…

The Street

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 Guardian - UK

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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

AFP

UBS brings back Ermotti as CEO to lead Credit Suisse takeover

Zurich (AFP) - UBS announced Wednesday it was bringing back former CEO Sergio Ermotti to lead the Swiss banking giant's controversial acquisition of troubled 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.

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AFP

Sergio Ermotti back as UBS chief for Credit Suisse takeover

Zurich (AFP) - 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….

The Conversation

What central banks are doing to safeguard financial stability and why they must proceed with caution

Before a crucial week of interest rate decisions for central banks, and on the eve of the emergency takeover of banking giant Credit Suisse, the Bank of England and five other major central banks announced a coordinated effort to boost the flow of US dollars through the global financial system.

AFP

Stocks mostly rise as crisis fears ease further

London (AFP) - Asian and European stock markets mostly rose Tuesday, as fears of a banking crisis eased further.

Axios

"Badwill" hunting: The difference between the bank failures of 2008 and today

The difference between the bank failures of 2008 and today.

The Independent UK

Silicon Valley Bank collapse was fastest since Barings in 1995, Bank of England governor says

Andrew Bailey says economy is in ‘period of very heightened tension and alertness’

The Guardian - UK

Bank of England ‘vigilant’ in wake of Silicon Valley Bank collapse, says Bailey

Governor tells MPs market turmoil has ‘tested’ banking sector for signs of weaknesses but denies fresh crisis is looming

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