Tag: Breaking news: Europe
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UBS appoints Sergio Ermotti as new CEO of the Group, following the acquisition of Credit Suisse
UBS has appointed Sergio P. Ermotti as Group Chief Executive Officer following the agreement to acquire Credit Suisse. Harold Cunningham | Getty Images News | Getty Images UBS on Wednesday appointed Sergio Ermotti as the group’s new CEO, following its recent acquisition of Credit Suisse. The move will take effect April 5, UBS said in […]
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stocks, news, earnings and data
29 minutes ago European stock markets open higher European stocks were higher early Monday, with the Stoxx 600 index up 0.5% at 8:20 a.m. London time. Oil and gas stocks were up 1.44%, mining stocks were up 1.36% and banks continued to regain some positive momentum, rising 1.2%. See chart… Stoxx 600 index. An hour […]
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Shares of Deutsche Bank are down 9% after a sudden spike in default insurance costs
Shares of the German lender retreated for a third straight day and have lost more than a fifth of their value so far this month. A logo can be seen above Deutsche Bank AG’s headquarters in the Aurora Business Park in Moscow, Russia. Andrei Rudakov | Bloomberg | Getty Images Shares of Deutsche Bank fell […]
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Swiss central bank raises interest rates by 50 basis points despite Credit Suisse turmoil
The Swiss national flag will be flown from the Federal Palace, the Swiss parliament building in Bern, Switzerland, on Thursday, December 13, 2018. The Swiss National Bank lowered its inflation forecast and showed no inclination to exit the crisis, citing franc strength and rising global risks. Photographer: Stefan Wermuth/Bloomberg via Getty Images Bloomberg | Bloomberg […]
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Swiss regulator defends controversial $17 billion write-down of Credit Suisse bonds
“The AT1 instruments issued by Credit Suisse contractually stipulate that they will be fully amortized in a ‘viability event’, particularly if exceptional government assistance is provided,” FINMA said in a statement Thursday. “As Credit Suisse received extraordinary liquidity support loans on March 19, 2023 backed by a federal default guarantee, these contractual terms were met […]
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Euro pushes higher as ECB chief Lagarde says inflation is still too high
Christine Lagarde, President of the European Central Bank (ECB), announces a new monetary policy decision. Frederik Florin | Afp | Getty Images The euro was seen trading higher against the US dollar on Wednesday following comments from European Central Bank President Christine Lagarde that inflation is “still high”. The euro rose about 0.2% against the […]
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UK inflation breaks 3-month decline with surprise rise to 10.4%
UK inflation data paints a picture of the UK economy. Bloomberg/Contributor/Getty Images UK inflation unexpectedly spiked in February as food and utility bills continued to rise, putting further pressure on households. The consumer price index (CPI) rose 10.4% annually, above the consensus forecast of 9.9% among economists in a Refinitiv poll and up from 10.1% […]
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UBS buys Credit Suisse, news, stocks
43 minutes ago European bank shares fall 40 minutes ago European stock markets open lower European equities were lower at the start of trading as investors assessed a weekend of news that resulted in UBS acquiring Credit Suisse. The Stoxx 600 index was down 1.4% at 8:30am London time, with losses across the major stocks […]
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UBS is offering to buy Credit Suisse for up to $1 billion, the Financial Times reports
A sale to UBS, which could be signed as early as tonight, values Credit Suisse at about $7 billion less than its market value at Friday’s close. It comes after Credit Suisse shares recorded their worst weekly decline since the start of the coronavirus pandemic. This is despite an announcement that it would be able […]
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Shares of Credit Suisse are up 23% after the loan announcement from the Swiss National Bank
Credit Suisse shares rose more than 30% at market open after the bank announced it would borrow up to $54 billion from the Swiss National Bank. It comes after shares of Credit Suisse fell to a new low on Wednesday, when top investor the Saudi National Bank said it would stop pumping in money due […]