As the world reels from the shock demise of Credit Suisse, attention is now turning to the bank’s surprising link with an Australian billionaire. In March 2021, Greensill Capital – a supply chain finance company founded in 2011 by Bundaberg-born watermelon farmer-turned rich lister Lex Greensill – spectacularly collapsed, makingContinue Reading
The controversial rescue deal for troubled lender Credit Suisse and the continuing fallout from the collapse of Silicon Valley Bank indicates the world is sliding into a crisis “far worse” than the GFC, one analyst has argued. Following crunch talks aimed at stopping the stricken bank from triggering a widerContinue Reading
Investors and employees at Swiss bank Credit Suisse are growing nervous following the news that the financial institution has collapsed. On Monday afternoon Australian time (Sunday local time), investment bank Credit Suisse announced that it was going to be absorbed by the country’s largest bank and its main rival, UBS,Continue Reading
Swiss bank UBS has agreed to take over its troubled rival Credit Suisse after doubling its offer to $US2 billion ($3 billion) amid crisis talks aimed at sparing the embattled bank — which was worth about 7.4 billion francs ($11.9 billion) on Friday — from a bloodbath when the marketsContinue Reading