Credit Suisse

Swiss bank UBS Group AG (NYSE:UBS) has announced impressive financial results for the third quarter of 2024. Following the earnings report, the stock rose 2.07% during the pre-market on Wednesday after closing at $32.82 on Tuesday. What Happened: UBS reported $12.3 billion in revenues, beating the...

American Express Company (NYSE:AXP) is poised to become the sole owner of Swisscard after UBS Group AG (NYSE:UBS) announced plans to sell its 50% stake. This comes just days after American Express reported mixed third-quarter results, with revenue slightly below analyst expectations. What Happened...

UBS Group AG (NYSE:UBS) shares are trading lower on Wednesday. Sabine Keller-Busse, UBS’s Switzerland country head, affirmed the bank’s steadfast commitment to its domestic market, addressing public concerns about its plans, reported Reuters. Keller-Busse told a conference in northern...

The Swiss units of UBS Group AG (NYSE:UBS) and Credit Suisse Group are on track to merge by Jul. 1, according to a senior UBS executive. What Happened: The executive, Sabine Keller-Busse, President of UBS Switzerland, stated that the merger plan is progressing smoothly, Reuters reported on Tuesday...

The Japanese wealth management joint venture of UBS Group AG (NYSE:UBS) and SuMi TRUST Wealth Management Co is set to acquire the wealth management business of Credit Suisse in Japan. What Happened: This acquisition comes after UBS’s takeover of its Swiss competitor in 2023. The agreement...

UBS Group AG (NYSE:UBS) has announced a new share buyback program worth up to $2 billion, set to commence in 2024. This move is intended to enhance investor returns as the bank pursues the completion of its acquisition of Credit Suisse. What Happened: UBS, based in Zurich, is initiating a new...

Ant Group Co has reportedly outbid Citadel Securities LLC for the acquisition of Credit Suisse‘s investment bank venture in China. This unexpected development is expected to undergo strict regulatory scrutiny. What Happened: Ant Group, a fintech giant backed by Jack Ma, has emerged as the top...

UBS Group AG (NYSE:UBS) on Tuesday announced a share buyback of up to $1 billion, following a better-than-expected fourth-quarter performance, despite ongoing challenges related to the integration of Credit Suisse. What Happened: UBS reported a net loss of $279 million for the quarter, attributed...

In a move aimed at curbing financial malpractices, Credit Suisse has been hit with a $3 million penalty by the Monetary Authority of Singapore (MAS). The bank’s relationship managers were found to be negligent in preventing or detecting misconduct within the institution. What...

Credit Suisse AG has become the target of another money-laundering probe, this time by the Singapore authorities, just months after being taken over by rival UBS Group AG (NYSE: UBS) and following a similar DOJ investigation, according to a Bloomberg report. The investigation has so far yielded...

In the aftermath of a substantial money laundering scandal involving S$2.4 billion ($1.8 billion) last month, banks based in Singapore have increased their vigilance towards clients of Chinese origin who possess foreign passports. What Happened: According to sources, several financial institutions...

Swiss investment bank Credit Suisse, currently a subsidiary of UBS, Inc. (NYSE:UBS), reportedly posted a loss of $4 billion for the second quarter, in line with the forecast issued in April. Credit Suisse second-quarter loss amounted to 3.5 billion Swiss francs, Reuters reported, citing German...

Apple, Inc. (NASDAQ:AAPL)’s third-quarter results Thursday failed to impress Wall Street, and the stock promptly reacted with a move to the downside. Here’s what the Street has to say. The Apple Analysts: Bernstein analyst Toni Sacconaghi maintained a Market Perform rating on Apple...

Files about the parliamentary investigation into the collapse of Credit Suisse bank will remain confidential for 50 years. What Happened: According to Swiss German-language daily newspaper Aargauer Zeitung, the commission responsible for investigating the collapse...

UBS Group AG (NYSE:UBS) is reportedly planning to significantly reduce the workforce of the recently acquired Credit Suisse Group AG (NYSE:CS), with more than half of the employees facing potential layoffs. The planned layoffs are part of UBS’s strategy to cut back on the numbers at Credit...