Tag Archives: Credit Suisse

Major Swiss Banks To Merge In Bid To Stem Fallout

CNN Business reports: Switzerland’s biggest bank, UBS, has agreed to buy its ailing rival Credit Suisse in an emergency rescue deal aimed at stemming financial market panic unleashed by the failure of two American banks earlier this month. It said the rescue would “secure financial stability and protect the Swiss economy.” UBS is paying 3 billion Swiss francs ($3.25 billion) …

Read More »