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.
The Waqf Amendment Act 2025 is to be heard in the Supreme Court today. The constitutional validit
Migrant workers in Kashmir are again the target of terrorists. This is the second terrorist attac
PM Modi: Tahawwur Rana was on PM Modi's target since 2011, now a 14-year-old tweet is going viral
After the extradition of Tahawwur Rana to India, an old tweet of Prime Minister Modi from the yea
Bigg Boss is such a TV reality show whose TRP is down or up, the audience watches it with great i
Chief Minister Yogi has taken a big step for the Kanwar pilgrims. Chief Minister Yogi said that t
The T20 International series between India and South Africa is one of the few fixtures between th
The trailer of Diljit Dosanjh's film Sardar ji 3 was released on 24 June. While fans were happy t
Visa can be cancelled if you commit a crime in America. The US Embassy in India has warned that v
Travis Scott, the famous rapper who has made the entire world dance to his tunes, is currently in
Prime Minister Narendra Modi is on a two-day visit to Gujarat. He started it with a road show in
