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UBS to cut more than half of workforce at Credit Suisse: Report

Analysts had warned that huge job losses were likely because of the overlapping activities at two of the world's most important banks.

The logos of the Swiss banks Credit Suisse and UBS are pictured in Zurich, Switzerland, June 12.(AP)
Published on Jun 28, 2023 08:27 AM IST

Over $68 billion withdrawn from Swiss' Credit Suisse ahead of UBS merger

Credit Suisse-UBS merger: Switzerland's long-time second largest bank saw 61.2 billion Swiss francs ($68.6 billion) withdrawn in the first quarter alone.

The bank also reported deceptively bloated net profits for the quarter,(Reuters)
Published on Apr 24, 2023 04:25 PM IST

Credit Suisse accused of obstructing probe into Nazi accounts investigation

Reports show, Credit Suisse seems to have maintained accounts for at least 99 individuals who were senior Nazi officials or members of Nazi-affiliated groups.

The latest internal Credit Suisse investigation was conducted by forensic research firm AlixPartners and overseen by Neil Barofsky,(HT Print)
Published on Apr 19, 2023 05:07 PM IST
Bloomberg | | Posted by Animesh Chaturvedi

Credit Suisse rescue package rejected by Swiss parliament

Switzerland's parliament rejected on Wednesday the government's 109 billion Swiss francs ($120.82 billion) aid for Credit Suisse's merger with UBS.

FILE PHOTO: The logo of Credit Suisse is pictured in front of the Swiss Parliament Building, in Bern, Switzerland, March 19, 2023. REUTERS/Denis Balibouse/File Photo(REUTERS)
Published on Apr 12, 2023 10:16 PM IST
Reuters |

Ex-RBI governor Raghuram Rajan says banking system headed for more trouble

Rajan said a decade of easy money and a flood of liquidity from central banks has caused an “addiction” and a fragility within the financial system.

Former Governor of Reserve Bank Of India (RBI) Raghuram Rajan(Mohd Zakir/HT PHOTO)
Published on Apr 07, 2023 12:07 PM IST
Bloomberg | | Posted by Aryan Prakash
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