UBS agrees ’emergency rescue’ of Credit Suisse
The arrangement, according to the Swiss National Bank, was the most effective approach to find a way of controlling economic risks and to regain market trust.
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Tag: Credit Suisse
Credit Suisse accepts $54 billion lifeline
Credit Suisse Group AG sought to halt a decline in investor confidence on Thursday by opening a 50 billion Swiss franc ($54 billion) credit line with the country’s central bank and offering to buy back debt, as executives and government officials plotted the troubled lender’s next steps.
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Credit Suisse plans massive job cuts affecting 9,000 employees
The global investment bank will lay off 2,700 people in the fourth quarter of this year.
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Credit Suisse to Pay Nearly $475 Million to U.S. and U.K. Authorities
Credit Suisse Group AG has agreed to pay about $475 million to US and UK authorities, including nearly $100 million to the Securities and Exchange Commission, in a scheme involving two bond issues and a syndicated loan that obtained cash on behalf of state-owned firms in Mozambique.
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