Republican Decree on Government Formation, Naming its Members Issued
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German Chancellor Says Europe Must Stand Strong
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S. Korea's exports rise 33.9 percent in January
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Paris Saint-Germain temporarily tops the French league after their win against Auxerre
Paris Saint-Germain defeated Auxerre 1-0 in their Ligue 1 match on Matchday 19.
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2026/02/07
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Latest News:
Saudi Prigram Launches Education Stability Enhancement Initiative in Socotra
Al-Eryani Calls on United Nations to Protect Staff After Contract Terminations in Sana'a
Child injured by Houthi sniper's bullets southeast of Taiz
Speaker of Shura Council, French Ambassador discuss peace efforts in Yemen
Ambassador Faqira discusses with Jordanian official strengthening parliamentary cooperation
Latest News:
Saudi Prigram Launches Education Stability Enhancement Initiative in Socotra
Al-Eryani Calls on United Nations to Protect Staff After Contract Terminations in Sana'a
Child injured by Houthi sniper's bullets southeast of Taiz
Speaker of Shura Council, French Ambassador discuss peace efforts in Yemen
Ambassador Faqira discusses with Jordanian official strengthening parliamentary cooperation
UBS officially acquires rival Credit Suisse
[12/06/2023 08:38]
BERN-SABA
Swiss bank UBS announced Monday that it has formally completed its takeover of rival Credit Suisse in a $3.2 billion deal in March.
Newly enlarged UBS will have a balance sheet of $1.6 trillion and 120,000 staffs worldwide, yet UBS has already said it would cut jobs to take advantage of the synergies and cut costs
Swiss regulators played a key role in the takeover amid concerns that massive losses at Credit Suisse would destabilize the banking system.
The organizers said they would cover losses of up to 9 billion Swiss francs ($10 billion) after UBS incurred the first 5 billion Swiss francs as part of the deal.
Swiss bank UBS announced Monday that it has formally completed its takeover of rival Credit Suisse in a $3.2 billion deal in March.
Newly enlarged UBS will have a balance sheet of $1.6 trillion and 120,000 staffs worldwide, yet UBS has already said it would cut jobs to take advantage of the synergies and cut costs
Swiss regulators played a key role in the takeover amid concerns that massive losses at Credit Suisse would destabilize the banking system.
The organizers said they would cover losses of up to 9 billion Swiss francs ($10 billion) after UBS incurred the first 5 billion Swiss francs as part of the deal.
Key words:
destabilize - SABA Swiss - regulators - organizers - completed - synergies - Swiss - worldwide - Newly - advantage -
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