The takeover of Credit Suisse by larger rival UBS leaves Switzerland with only one globally systemically important bank. The Swiss National Bank is providing 200 billion francs in assistance.
After UBS offered to take over Credit Suisse for 25 centimes per share, the troubled bank's largest shareholder is pushing back on the deal.
UBS has offered to buy Credit Suisse for one billion dollars in an all-share-based transaction. The offering price is well below Credit Suisse's closing price on Friday.
A full merger of the wealth management businesses is likely to lead to significant client exits and prolonged internal tumult – and job cuts – in Asia. Investment banking and asset management overlaps will be more easily mopped up by other market players.
It could prove fatal for Switzerland's second-largest bank if negotiations collapse this weekend as it will face constant fire from now on, finance expert Beat Wittmann tells finews.asia.
Credit Suisse's demise seems unavoidable at this point. Parties are working around the clock to solve the crisis while UBS reportedly stands firm on a number of conditions.
First, a no. But now – a possible yes. The two largest Swiss banks, UBS and Credit Suisse, are ostensibly talking about a merger this weekend given the existential crisis the latter faces. Domestic regulators appear to be striving for a «simple and...
Crypto data provider Kaiko is reportedly planning to relocate its Asia base from Singapore to Hong Kong, in yet another example of digital asset tailwinds in the city.
Troubled Swiss lender Credit Suisse continues to see talent outflows with three senior executives reportedly leaving its Asia Pacific equities business.
In just a few short months, Swiss banking has become a risk factor for the functioning of the international financial system. How could this happen? An analysis by finews.asia founder Claude Baumann.
Geneva-based UBP has reorganized its investment services unit in Asia with greater localization of the top roles.
Singapore’s three largest local banks have «insignificant» exposure to troubled Swiss lender Credit Suisse, according to the city-state’s regulator.
China is reportedly pressing pause on approvals for new applications to sell global depository receipts, which is expected to hit the financial center of Zurich.
On Wednesday, Credit Suisse shocked investors as its stock price collapsed. Today, losses were reversed on the news that Swiss authorities are coming to the aid of the beleaguered bank.
As recently as October, Credit Suisse was buying back its bonds to calm the markets. Now it is drawing billions from the Swiss National Bank. It raises the question of its current liquidity situation.
Banking is a relationship business. But crisis-ridden Credit Suisse finds itself surrounded by partners who are reluctant to stand by it and, in the worst-case scenario, become dangerous, finews.asia observes.
Coinbase is upgrading its retail offering in Singapore by allowing customers to freely move funds between their crypto and local bank accounts.
Hong Kong authorities have arrested another five syndicate members involved in a multi-million dollar ramp-and-dump scheme.
German asset manager DWS and Japanese insurer Nippon Life have announced an extension of their strategic alliance.
The US banking crisis has penetrated the heart of the Swiss finance hub in just a few days. Credit Suisse’s fate now hangs by a thread. Only a miracle can prevent the worst from happening on Zurich’s Paradeplatz, writes Swiss finance professor Teodoro Cocca...
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