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Tag: UBS

Global banking system is stable amid crisis, US treasury secretary says – BBC News

US treasury secretary Janet Yellen offered reassurance that the banking system is stable in a speech to bankers in Washington. Yellen said the US government is prepared to help more banks if needed, saying their recent actions have demonstrated their “commitment to ensuring the banking system remains safe”. Fears were initially sparked when Swiss bank Credit Suisse was bought by rival UBS on Sunday. Please…

Thousands of jobs at risk after UBS’ US$3.2 billion takeover of Credit Suisse

Subscribe to our YouTube channel for free here: https://sc.mp/subscribe-youtube Tens of thousands of jobs are at risk following UBS’s US$3.25 billion rescue of Credit Suisse. The merger between the long-time Swiss rivals was brokered by the Swiss National Bank, the country’s central bank, over the March 18-19, 2023, weekend to stave off a developing international banking crisis. UBS officials said it was still too early…

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