Saudi National Bank chair resigns after Credit Suisse meltdown
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Saudi National Bank chair resigns after Credit Suisse meltdown

ByNews Polite

The boss of the Saudi National Bank abruptly resigned from his post Monday, just days after his critical comments about Credit Suisse sparked an industrywide panic that resulted in a forced rescue of the troubled lender by rival UBS. Saudi National Bank Chairman Ammar Al Khudairy is stepping down “due…

Credit Suisse given billion lifeline to prevent global bank crisis
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Credit Suisse given $54 billion lifeline to prevent global bank crisis

ByNews Polite

Credit Suisse on Thursday said it would borrow up to $54 billion from the Swiss central bank to shore up liquidity and investor confidence after a slump in its shares intensified fears about a global financial crisis. The Swiss bank’s announcement helped stem heavy selling in financial markets in Asian morning trade on…

Walmart-backed fintech One to test banking services
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Walmart-backed fintech One to test banking services

ByNews Polite

One, a fintech company backed by Walmart, will introduce checking accounts to thousands of Walmart employees and a small percentage of its online customers for beta testing in the coming weeks, two people familiar with the matter said. The fintech aims to make the accounts available to Walmart’s 1.6 million employees within a year…