Credit Suisse, UBS shares drop after Swiss probe into merger
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Credit Suisse, UBS shares drop after Swiss probe into merger

ByNews Polite

Credit Suisse and UBS shares fell on Monday after Switzerland’s federal prosecutor opened an investigation into the emergency merger of the two lenders. The office of the attorney general said on Sunday that the prosecutor opened an investigation into the state-backed takeover of Credit Suisse by UBS Group last month, looking into potential breaches of the country’s criminal law by…

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 $54 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…