#creditsuissecrisisexplained

Just weeks after Swiss banking giant UBS took over rival Credit Suisse, it is all set to axe over half of Credit Suisse's workforce. Media reports suggest that bankers, traders, and support staff in Credit Suisse's investment bank in London, new york, and

UBS will take over Credit Suisse, Swiss authorities have confirmed. The deal to rescue the embattled lender includes 100bn Swiss francs in liquidity assistance for both banks. In a statement, the Swiss central bank and other officials said that the agreeme

British banking watchdogs have given their blessing to a takeover of Credit Suisse by its Swiss peer UBS, as financial regulators around the world race to contain the industry's biggest crisis since 2008. Credit Suisse has a market capitalisation of just $