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GENEVA (AP) — Credit Suisse is reporting a pretax loss of 428 million Swiss francs ($443 million) and a plunge in revenues in the first quarter, marked in part by a loss of 206 million Swiss francs (about $214 million) linked to Russia's invasion of Ukr
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Credit Suisse shares have plunged after Swiss authorities cut a deal with its bigger rival UBS to acquire the troubled bank at a marked-down price.
European shares posted gains Thursday as investors were reassured by news that Credit Suisse would tap a lifeline offered by the Swiss National Bank, borrowing up to 50 billion Swiss Francs ($53.7 billion). The rally in Europe carried over to Friday, although gains were modest. The benchmark...
Credit Suisse’s problems – years in the making – are unrelated to the recent deposit runs at US banks. But after UBS came to the rescue of Credit Suisse, the flood of deposit withdrawals from US regional banks eased and central banks tried to make dollars more available to keep bank...