UBS is poised to complete on Monday its takeover of Credit Suisse, but integrating the former rival is a Herculean task that clients, employees and Swiss political leaders will closely watch. The coming months are likely to be “bumpy”, warned UBS chief Sergio Ermotti on Friday, adding the integration will come with “waves” of difficult … Read more
UBS Group AG was rushed into buying cross-town rival Credit Suisse Group AG in a deal it did not want, as a global bank crisis worsened the latter’s finances and prompted authorities to take swift action, a regulatory filing showed. UBS, in a Tuesday filing to the U.S. Securities and Exchange Commission, told investors it … Read more
Switzerland’s Federal Prosecutor has opened an investigation into the state-backed takeover of Credit Suisse by UBS Group, the office of the attorney general said on Sunday. The prosecutor, based in the Swiss capital Bern, is looking into potential breaches of the country’s criminal law by government officials, regulators and executives at the two banks, which … Read more
The dollar was firm on Tuesday leading in to the release of U.S. inflation data and the final Federal Reserve meeting of the year, with investors waiting to update interest rate outlooks. A month ago, a small surprise to the downside unleashed a wave of bond-buying and dollar selling on the expectation that inflation had … Read more