[ad_1] UBS is expected to lay off more than half of Credit Suisse’s workers from next month following its emergency takeover of the struggling 167-year-old lender. The Swiss bank is…
Tag: Banks and Finance
Britain’s ‘extreme bureaucracy’ making it hard to do business, says Revolut
[ad_1] The founder of Europe’s most valuable fintech company has criticised Britain’s “extreme bureaucracy” as he launched an attack on the UK’s high taxes and red tape. Nikolay Storonsky, chief…
US bank shares plunge as PacWest fuels crisis fears
[ad_1] Ashley Webb, of Capital Economics, said: “This is the first bit of data that we have had that covers the period immediately after the concerns over the health of…
Sweden’s biggest pension fund fires chief executive over ‘unusually inept’ bank investments
[ad_1] The chief executive of Sweden’s biggest pension company has been fired after it lost £1.5bn in the recent US banking crisis. Magnus Billing is leaving Alecta with immediate effect,…
UBS chief steps down ‘in the interest of Switzerland’ after Credit Suisse deal
[ad_1] UBS has drafted in the chief executive who helped it recover from the financial crisis to steer the bank through the takeover of Credit Suisse. Sergio Ermotti, who led…
Credit Suisse sold in cut-price deal to avert banking crisis
[ad_1] It came under pressure after a major shareholder said it would put no more money into the business, prompting a flood of clients to pull their money. The Swiss…
Silicon Valley Bank collapse could spark the next financial crash – but we cannot bail out failed bankers again
[ad_1] Depositors can’t get their money out. Payrolls might not be met next weekend. And small companies, especially in the fast growing technology industries, might soon face closure as their…