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…
(Reuters) – Inflation in the euro zone is proving tougher to crack than expected and the European Central Bank will likely need to raise interest rates further, possibly above 4%, Austrian central bank chief Robert Holzmann said on Saturday. “Inflation is proving much tougher than thought,” Holzmann, a member of the ECB’s policymaking Governing Council,…
LONDON (Reuters) – Goldman Sachs has cut its recommendation on exposure to European bank debt to neutral from overweight, saying a lack of clarity on Credit Suisse’s future path would put pressure on the broader sector in the region. Credit Suisse was thrown a $54 billion lifeline by the Swiss central bank on Thursday to…
By Stefania Spezzati, Oliver Hirt and Tom Sims (Reuters) – Credit Suisse Group AG began a make-or-break weekend after some rivals grew cautious in their dealings with the bank and regulators urged it to pursue a deal with Swiss rival UBS AG. Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings…
