Switzerland's UBS Group has bought the troubled Credit Suisse bank for $3.23 billion. The government of Switzerland announced this late on Sunday night. After the recent banking crisis, it is considered a major step to increase confidence in the global financial market. The whole deal is based on shares. Under this, shareholders of Credit Suisse will get one share of UBS for every 22.48 shares held.
Financial assistance of $ 108 billion will also be given
Under this deal, financial assistance of $ 108 billion will also be given to UBS and Credit Suisse from the Central Bank of Switzerland. Apart from this, the Swiss government will compensate UBS 9 billion Swiss francs for any loss in this deal. The 167-year-old Credit Suisse bank recently faced a financial crisis, after which the central bank of Switzerland gave Credit Suite a loan of $54 billion.
First Citizens considering the acquisition of Silicon Valley Bank
First Citizens Bankshare Industries is looking to acquire the bankrupt Silicon Valley Bank (SVB). Bloomberg has given this information citing people familiar with the development. It has also been said in the media report that another company is also considering the acquisition of the bank. However, when SVB and First Citizens were asked for their comments, they did not respond.
FDIC took over after bank failures
Reuters reported earlier this week that the Federal Deposit Insurance Corporation (FDIC) had asked banks interested in acquiring Silicon Valley and Signature Bank to submit bids by March 17. The FDIC has taken them over after the bankruptcy of both banks. A week ago, the FDIC tried to sell Silicon Valley Bank but failed. The FDIC is taking the services of investment bank Piper Sandler in this work.
Manmohan Singh Memorial: Where can Manmohan Singh's memorial be built? Search for land continues, names of these places are in discussion
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Luna-25 Crashed On Moon: Russia missed out on creating history, these are five reasons for Luna-25 mission failure
Russia's 'Mission Moon' suffered a major setback on Sunday. Russia's Luna-25 Spacecraft Crashed before landing on the lunar surface. Launched on August 14, Luna-25 was to land on the South Pole of the
Uttarakhand Forest Fire: Incidents increased, forests burnt more, and death toll also increased... know the shocking figures
Four people died of burns while extinguishing the fire in the forest of Gairad. Forest department employees along with PRD jawans are also involved in this. The ever-increasing fire in the forests of
Father's Day 2023: If you want to strengthen your relationship with your father, then these tips can be very useful for you.
Father's Day 2023: Often people are unable to give time to their parents due to busy lifestyles. Due to this, the most important relationship is affected. Even though parents may get angry with us,
Chennai Weather: Light rain will occur in parts of Chennai today within the next three hours, IMD predicts
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Weather Update Today: There will be heavy rain in these states including Himachal-Uttarakhand today, how will the weather be in Delhi-NCR?
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PM Modi Roadshow: Prime Minister's roadshow in Bareilly today, many roads in the city will remain closed, proceed with caution
Route diversion has been implemented in the city given the security and traffic arrangements during the proposed road show of Prime Minister Narendra Modi in Bareilly. SP Traffic Shivraj
SAFF: India's Jackson Singh used Manipur's flag to celebrate becoming champion
Team India has won the title of the SAFF Championship. India defeated Kuwait 5-4 in the penalty shootout in the final played at the Kanteerava Stadium in Bengaluru on Tuesday. The score was tied at
