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Tag: Credit Suisse group

  • JPMorgan CEO Jamie Dimon leads efforts to create new First Republic Bank Rescue Plan

    Discussions, while tentative, focused on how the industry could arrange an investment that would bolster the bank’s capital, according to people familiar with the matter. One of the options on the table, people said, is an investment in First Republic by the banks themselves. Eleven major banks joined forces last week to deposit $30 billion […]

  • US stocks rise, but First Republic Bank slides

    In trading at 4pm ET, the Dow Jones Industrial Average added about 380 points, or 1.2%, and the S&P 500 was up 0.9%. The tech-focused Nasdaq Composite climbed 0.4%. The indices fell on Friday, but so far have remained relatively isolated from the banking crisis. Authorities have been trying to halt a dangerous drop in […]

  • UBS buys Credit Suisse to end the banking crisis

    London CNN — Switzerland’s largest bank, UBS, has agreed to buy its ailing rival Credit Suisse in an emergency bailout deal to defuse financial market panic sparked by the failure of two US banks earlier this month. “UBS today announced the acquisition of Credit Suisse,” the Swiss National Bank said in a statement. It said […]

  • UBS closes deal to buy Credit Suisse for more than $2 billion

    Swiss authorities tried to finalize the deal on Sunday before Asian markets opened this week. They were walking a fine line, they had to get the boards of the two banks to agree to the deal and avoid the alternative, a regulator-led liquidation of Credit Suisse, which could prove longer and more painful for the […]