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.
Bollywood actor Ranbir Kapoor and Nitesh Tiwari's upcoming film 'Ramayana' is
The National Testing Agency (NTA) has declared the result of the National Eligibility-cum-Entranc
One of the most awaited films of Bollywood, 'Ramayana', whose shooting has been going on for a lo
After the stampede at the Chinnaswamy Stadium, there was screaming and crying everywhere. Fans wh
Congress leader Shama Mohammed, who called Indian team captain Rohit Sharma fat, posted on 'X' an
Chaos at singer Babbu Maan's show, people threw chairs and bottles; police resorted to lathi-charge
During Babbu Maan's live show which was going on after the Kabaddi Cup held in Baddowal area on S
Top pacer Jasprit Bumrah has dismissed Nathan McSweeney thrice in the last four innings but the A
Taapsee Pannu Wedding: Actress Taapsee Pannu has been in the limelight for the past several days
Weather Update: Sudden change in the weather of Delhi-NCR, a sheet of dust spread in the sky
There was a sudden change in the weather on Tuesday morning amidst the scorching heat in Delhi-NC
Sunrisers Hyderabad captain Pat Cummins said that he was thinking about the Super Over.
