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Added on the 18/11/2020 14:03:57 - Copyright : Wochit
Images of a press conference in Bern by UBS and Credit Suisse leadership and Swiss officials. UBS will take over its troubled Swiss rival Credit Suisse for $3.25 billion following crunch talks Sunday aimed at stopping the stricken bank from triggering a wider international banking crisis. IMAGES
Credit Suisse is said to be planning to boost its stake in its Chinese securities joint venture to the maximum permissible 49 percent. As Hayley Platt reports, the move would make it the first foreign bank to take advantage of relaxed Chinese investment rules.
Credit Suisse predicts financial markets will remain tough, after starting the year with a quarterly loss for the first time since 2008 amid a major restructuring. But as Hayley Platt reports, like many of its peers the Swiss bank's losses weren't as bad as expected
Credit Suisse's Chief Executive Officer Tidjane Thiam says the Swiss bank has been "underweight" in China and will look to build its wealth management capabilities in the world's second-biggest economy, despite slowing growth. But, as Julian Satterthwaite reports, the bank has plenty of challenges ahead.