By Stefania Spezzati, Oliver Hirt and John O’Donnell (Reuters) – Talks over rescuing Credit Suisse rolled into Sunday as UBS AG sought $6 billion from the Swiss government to cover costs if it were to buy its struggling rival, a person with knowledge of the talks said. Authorities are scrambling to resolve a crisis of…
WILMINGTON, Delaware (Reuters) – Berkshire Hathaway Inc’s Warren Buffett has held discussions with senior Biden adminstration officials about the banking crisis, a source familiar with the matter told Reuters on Saturday. The White House and U.S. Treasury declined to comment. Bloomberg News reported earlier that Buffett had been in touch with administration officials in recent…
(Reuters) – BlackRock Inc Vice Chairman Philipp Hildebrand is taking part in talks as Swiss officials try to put together a deal for UBS Group to take over Credit Suisse Group AG, Bloomberg News reported on Saturday, citing unidentified sources. Asked about the report, BlackRock spokesman Ryan O’Keeffe said in a telephone interview that “Philipp…
By Stefania Spezzati, Oliver Hirt and John O’Donnell (Reuters) – UBS AG is asking the Swiss government to cover about $6 billion in costs if it were to buy Credit Suisse, a person with knowledge of the talks said, as the two sides raced to hammer together a deal to restore confidence in the ailing…
By Oliver Hirt and Stefania Spezzati (Reuters) – UBS Group AG is seeking government guarantees of about $6 billion for a potential takeover of Credit Suisse Group AG, a person with knowledge of the discussions told Reuters on Saturday. The discussions are still ongoing and the figure could change as several scenarios are still under…
(Reuters) – British retailer John Lewis, which has been 100% owned by its staff, is considering diluting its partnership structure, The Times reported on Saturday. The chairperson, Dame Sharon White, is in early stages of exploring a plan to change the retailer’s mutual structure so it can try to raise between 1 billion and 2…
By John O’Donnell (Reuters) – UBS AG was mulling a takeover of its embattled Swiss peer Credit Suisse on Saturday, sources said, which could allay fears that an unfolding crisis at the bank might destabilise the global financial system. The 167-year-old Credit Suisse is the biggest name ensnared in the turmoil unleashed by the collapse…
By Sabine Siebold and Paul Carrel (Reuters) – The European Central Bank (ECB) will likely need to raise interest rates further to tame persistent inflation, two leading hawks on the bank’s policymaking Governing Council said on Saturday, while playing down the risk of repeat of the 2008 financial crisis. The comments from the central bank…
By John O’Donnell (Reuters) -UBS AG was examining on Saturday a takeover of its embattled Swiss peer Credit Suisse, sources said, a move that could allay fears that an unfolding crisis might destabilise the global banking system. The 167-year-old Credit Suisse is the biggest name ensnared in the market turmoil unleashed by the collapse of…
(Reuters) – UBS AG was examining on Saturday a takeover of Credit Suisse as the embattled lender faced a make-or-break weekend amid the market turmoil unleashed by the collapse of U.S. lenders Silicon Valley Bank and Signature Bank. DEVELOPMENTS * A takeover of Credit Suiss by UBS could see the Swiss government offer a guarantee…
