#topcreditsuisse

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

Colm Kelleher, chairman of UBS Group, said the takeover of Credit Suisse "represents enormous opportunities", adding that his bank's long-term aim would be to downsize Credit Suisse's investment banking business and align it with the "conservative culture"

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 $