
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.
Shah Rukh Khan has been supporting his son Aryan Khan's luxury brand since the beginning. Recentl
Saudi Crown Prince is in Delhi on a three-day visit. During this time, he is staying here for his
The celebration of Royal Challengers Bangalore's victory in IPL faded when 11 people lost their l
The uproar over the new Waqf law is increasing across the country. The politics of allegations an
Who is Hamas Commander Ibrahim Biyari: Israel killed and killed Jews since 2004
The war between Israel and Hamas has been going on for more than three weeks. So far, more than n
Veteran actor Dharmendra is admitted to Breach Candy Hospital in Mumbai. Numerous reports have be
The three-match ODI series between India and Sri Lanka has started in a very exciting way. The fi
Delhi Chief Minister and Aam Aadmi Party national convenor Arvind Kejriwal, who is 
The wait of fans for the trailer of Salman Khan's most awaited film Tiger 3 is finally over. Afte
The Prime Minister has arrived on his two-day visit to Japan. Here, he will participate in the 15