Published 1 year ago

Relief over Credit Suisse rescue short-lived as bank shares plummet

Summary by Inquirer

Banking stocks and bonds plummeted on Monday after UBS Group sealed a state-backed takeover of troubled peer Credit Suisse Group AG, a deal that was orchestrated in an attempt to restore confidence in a battered sector.

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The Guardian

Investors consider legal action over Credit Suisse deal; Downing Street says UK banking system is safe – as it happened

Holders of riskier AT1 bonds, which are wiped out under deal with UBS, consider legal action.

1 year ago·London, United Kingdom

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CTV News

Credit Suisse, UBS shares plunge after takeover announcement

Shares of Credit Suisse plunged 63 per cent in early trading Monday after the announcement that banking giant UBS would buy its troubled rival for almost US$3.25 billion in a deal orchestrated by regulators to stave off further market-shaking turmoil in the global banking system.

1 year ago·Canada

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Reuters

Bank shares rise after Credit Suisse rescue eases crisis

U.S. banking stocks mostly rose on Monday and Europe's lenders recovered from a sharp early sell-off after UBS Group's state-backed takeover of Credit Suisse appeared to close off one source of worry for the global banking sector.

1 year ago·United Kingdom

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Associated Press News

Shares of Credit Suisse plunge 63%, UBS down 14% after news that UBS will buy Credit Suisse to stave off market turmoil

Shares of Credit Suisse plunge 63%, UBS down 14% after news that UBS will buy Credit Suisse to stave off market turmoil.

1 year ago·United States

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Hindustan Times

Stocks slump as Credit Suisse rescue fails to ease fear of global crisis

Asia gains for S&P 500 futures and European futures reversed as the sun rose in London. S&P 500 futures were last down 1%. European futures dropped 1.2% and FTSE futures fell 1.5%, and investors rushed to price in interest rate cuts.

1 year ago·New Delhi, India

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