This article is an on-site version of our Unhedged newsletter. Sign up here to receive the newsletter straight to your inbox every weekday Good morning. Credit Suisse is about to become a subsidiary of UBS, and that’s good news for the markets. Our Due Diligence colleagues have it piecemeal. Not so good is the fact…
Signature Bank was shut down by regulators in March in a bid to prevent a larger banking crisis. Angus Mordan | Bloomberg | Getty Images A subsidiary of New York Community Bank reached an agreement with US regulators to buy deposits and loans from the New York-based company Signature Bankwhich was closed a week ago….
Iraqi officials say the move aims to tighten the border with the Kurdish region of Iraq, where Tehran says armed Kurdish dissidents pose a threat to its security. Iraq and Iran have signed a border security deal, a move Iraqi officials say is primarily aimed at tightening the border with the Kurdish region of Iraq,…
Swiss authorities have announced that UBS has reached an agreement to acquire Credit Suisse to prevent further market disruption in the global banking sector. The move comes as Swiss regulators aim to prevent a crisis of confidence in Credit Suisse from spilling over into the wider financial system, with the finance minister warning that a…
Struggling Swiss banking giant Credit Suisse has reportedly agreed to be taken over by arch-rival UBS at a discount to Friday’s closing price after seeing a wave of customer deposits leave the bank. UBSUBS, -5.50% will acquire Credit Suisse CS, -6.94% for more than $2 billion in an all-stock deal, the Financial Times reported, citing…
5/5 © Reuters. Kosovo’s Prime Minister Albin Kurti looks on as he addresses the media, in Ohrid, North Macedonia, March 18, 2023.REUTERS/Ognen Teofilovski 2/5 By Fatos Bytyci OHRID, North Macedonia (Reuters) – Kosovo and Serbia have reached an agreement on implementing a European Union-backed deal to normalize relations, the Kosovo’s foreign policy chief said on…
US authorities are working with their Swiss counterparts as they seek to strike a deal for UBS Group AG to buy all or part of struggling rival Credit Suisse Group AG, according to people familiar with the matter. A merger between the two banks would be interesting for regulators in Washington, as both lenders have…
A deal allowing Ukraine to ship grain to world markets despite Russia’s blockade of the Black Sea has been extended, the UN and the Ukrainian and Turkish governments announced on Saturday. The Black Sea Grain Initiative, agreed in July under UN auspices and with Turkish mediation, enabled Ukraine to ship 25 million tonnes of grain…
SAG-AFTRA has reached a tentative settlement with the studios over unpaid Covid testing allowances. The allowances in question relate to payments for Covid tests on days when performers were also paid for fittings. In the back-to-work deal between Hollywood companies and unions, actors and background performers who traveled out of their homes to take a…
New York TheSpiderNews Business — A 24-hour strike at The New York Times, a historic demonstration in which more than 1,100 workers are expected to participate, will go into effect Thursday at midnight, after management and the union representing the workers failed to reach an agreement on a new contract after more than a year…
