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Government-Backed Deal Allows UBS Bank To Profit Nearly $35,000,000,000 in Credit Suisse Takeover: Report

Government-Backed Deal Allows UBS Bank To Profit Nearly ,000,000,000 in Credit Suisse Takeover: Report

Banking giant UBS will reportedly lock in almost $35 billion in profits after the Swiss government helped it take over the dying remains of Credit Suisse. According to a report from Bloomberg, UBS will make $34.8 billion on its Credit Suisse takeover, which was initiated earlier this year when the former Swiss behemoth became the […]

The post Government-Backed Deal Allows UBS Bank To Profit Nearly $35,000,000,000 in Credit Suisse Takeover: Report appeared first on The Daily Hodl.

Elon Musk, the world’s richest man, hits record $348B net worth

UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal

UBS Considers Acquiring Credit Suisse, Requests Government Backstop in DealAfter Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the […]

Elon Musk, the world’s richest man, hits record $348B net worth