Tag: Credit Suisse
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Up To 30 Percent Of Jobs Eliminated At UBS-Credit-Suisse!
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In Switzerland, up to 11,000 employees could be affected by the UBS takeover of Credit Suisse. UBS Group plans to cut its workforce by between 20% and 30%, slashing as many as 36,000 jobs worldwide, Swiss newspaper Sonntagszeitung reported, citing a senior manager at UBS.
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New Boss At UBS: Ermotti Takes Over From Hamers!
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Sergio Ermotti is returning to the major Swiss bank UBS as Group CEO. The board of directors made this decision in light of the new challenges and priorities UBS must face following the acquisition of Credit Suisse, which UBS announced today.
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Deutsche Bank Under Pressure: Now Chancellor Scholz Speaks Out!
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After the laboriously negotiated takeover of the ailing Credit Suisse by the Swiss central bank UBS, unrest continues to reign in the financial markets. The Deutsche Bank share is one of the biggest losers on the DAX ahead of the weekend. However, the recent slump in the share price offers…
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CoCo Bonds Brash – 16 Billion Francs Declared Worthless!
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Prices of AT1 bonds have come under pressure on Monday. The reason: with UBS’s takeover of Credit Suisse, Additional Tier 1 bonds worth around 16 billion francs were declared worthless.
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The Credit Suisse Bail-Out Will Not End the Banking Crisis!
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UBS is taking over its rival Credit Suisse, which has slid deep into crisis. Bantleon Chief Economist Daniel Hartmann nevertheless sees no end to the banking crisis and warns of significant setbacks on the stock market. The Swiss Market Index (SMI) has lost almost 6% in the last four weeks.
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Credit Suisse Rejects UBS Takeover Bid!
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Previously, UBS had offered one billion dollars for Credit Suisse, according to media reports. There should be a solution even before the stock exchanges open on Monday.
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Countdown To The Stock Market Crash!
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Economist Nouriel Roubini, who predicted the financial crisis of 2007 and 2008, wanted to live up to his reputation as a crash prophet, who has already earned the nickname “Dr. Doom” because of his constant doom-mongering and said yesterday that Credit Suisse, whose share price plunge the previous day sent…
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Zurich FinTech Crealogix Burned Half Of Its Cash!
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Crealogix is almost systemically crucial for the financial centre. From Aargauische Kantonalbank to Cler, Credit Suisse and Julius Bär to Raiffeisen and ZKB, all have ebanking solutions from the Zurich-based company. Now they may be worried about the company’s financial situation. As of June 30, revenues are down 15%, with…
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Fintech Lender Uncapped Acquires Gamin App Financing Platform Sugar!
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Fintech lender Uncapped (website), which provides funding to startups without taking an equity stake, has acquired the app and gaming finance platform Sugar (website), a game and digital app maker. The acquisition gives Uncapped a foothold in the gaming and apps market. It’s the next step on the journey for…