The struggling lender will be acquired by JPMorgan, the Californian financial watchdog said
Latest Articles
Years of losses and a failed turnaround plan left the retailer struggling to stock stores. The company expects all its retail locations to eventually close.
Deal with federal regulators will make lender one of the top 25 U.S. banks
The below-market sale of Credit Suisse has spooked investors but other markets have held up well and central banks are working to keep money flowing
So farewell to Credit Suisse. Founded in 1856, the bank has been a pillar of the Swiss financial sector ever since. Although buffeted by the financial crisis of 2008, Credit Suisse did manage to weather that storm without a government bailout, unlike its rival-turned-rescuer UBS.
The Swiss government said it would provide more than $9 billion "in order to reduce any risks for UBS" and "potential losses arising from certain assets that UBS takes over as part of the transaction."
Shares in major investment bank Credit Suisse plunged by nearly 30 per cent overnight as the financial institution teeters on the brink.
Regulator took temporary control on Sunday
Recent bank failures have paled in comparison to today’s closures.
SVB was brought down by the oldest issue in banking — a run on the bank
US President Joe Biden on Monday reassured Americans that their banking system is safe in the wake of the sudden collapse of Silicon Valley Bank (SVB) and the federal takeover of a second bank.
Next steps could have ripple effects through the financial system
Bank, the 16th largest in U.S., failed after depositors hurried to withdraw money
Number is lower than January’s 504,000 jobs but comes as Fed signals aggressive interest rate hikes in bid to tame inflation
Disgraced FTX crypto mogul Sam Bankman-Fried’s ex-girlfriend Caroline Ellison was facing up to 110 years in prison before she started talking.
OPEC is an intergovernmental organization founded in 1960 in Baghdad, and their decision to cut oil production is seen as potentially upsetting the US mid-term elections
Move by alliance will boost sagging crude prices
Planned layoffs follow reinstatement of annual performance reviews and a slump in Wall Street deal making
Bed Bath & Beyond chief financial officer Gustavo Arnal and Gamestop Chairman Ryan Cohen were named in a class action lawsuit alleging a pump and dump scheme