UBS and Credit Suisse both saw their shares spiral after the former agreed to an emergency rescue of the latter.
Shares of Swiss banking giants UBS and Credit Suisse plunged substantially following a takeover of the latter. On Monday morning, UBS secured a 3 billion Swiss franc ($3.2 billion) bailout of its troubled domestic rival amid BailoutCreditDealSharesSinkSuisseUBS Read More
UBS Group doubled its initial offer and agreed to buy its competitor Credit Suisse for nearly $2 billion on March 19, in a historical deal for the two biggest banks in Switzerland, the Financial Times reported.UBS previously put a $1 billion offer on the table on March 18, but the AcquiresCreditDoublesGroupOfferSuisseUBS Read More
The Swiss National Bank (SNB) and Switzerland’s financial regulator reportedly believe that the acquisition of investment bank Credit Suisse by UBS, Switzerland's largest bank, is the “only option” to prevent a “collapse in confidence” in Credit Suisse.According to a March 18 Financial Times report citing three people familiar with the CreditemergencyMeasuresPreparingReportSuisseSwitzerlandTakeoverUBS Read More
After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to AcquiringBackstopBitcoinConsidersCreditDealGovernmentNewsRequestsSuisseUBS Read More
A recent report published by market strategists from the investment bank and financial services company UBS says that the upcoming Mt Gox payouts won’t destabilize bitcoin’s value. While a new supply will come to the market, UBS strategists insist that “it would be less concentrated.”
UBS Market Strategists Believe Mt Gox BitcoincryptoexchangeExchangesGoxImpactMinimalNewsPayoutspredictStrategistsUBSUpcoming Read More
While 850,000 bitcoin went missing from the exchange in 2014, it's not that amount that’s potentially being disposed of, because the exchange has recovered 142,000 BTC along with 143,000 in Bitcoin Cash (BCH) and 69 billion Japanese yen ($510 million), representing about 20% of the hack.
Source BankruptcyBitcoinCryptocryptoexchangeDestabilizeExchangeExchangesGoxsPriceRepaymentsUBS Read More
Bank of America, Goldman Sachs, JPMorgan, and UBS have shared their predictions about the Federal Reserve raising interest rates further. Bank of America and Goldman Sachs, for example, now expect the Fed to raise interest rates three more times this year.
Major Banks Predict More Fed Rate Hikes
As the U.S. Federal AmericaBankBitcoinEconomicsFedGoldmanHikesJPMorganNewsPredictionsRateSachsShareUBS Read More
Swiss investment bank UBS AG introduced its hybrid digital bond on Nov. 3, claiming to be the world's first publicly traded and settled on both blockchain-based and traditional exchanges.According to the bank, the digital bond has the same instrument structure, legal status and rating as a traditional UBS AG senior BlockchainBondDigitalExchangesLaunchesSettledTraditionalUBS Read More
On Aug. 30, global investment bank UBS increased its view on the risk of the United States entering a recession within one year to 60%, up from 40% in June. According to economist Pierre Lafourcade, the latest data showed a 94% chance of the economy contracting, but added that it BitcoinCryptocryptoexchangeExchangesOddsPricesRaisesRecessionUBS Read More