Banking giant UBS is buying its smaller rival Credit Suisse for $3.2 billion in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced Sunday night. “An uncontrolled collapse of Credit Suisse would lead to incalculable consequences for the country and the international financial system,” Berset said.
Related posts
-
Activate Games bringing ‘unique’ gaming to Naperville
Activate Games is bringing interactive gaming to Naperville. -
Federal judge strikes down Illinois assault weapons ban, setting up likely appeal
A federal judge in East St. Louis on Friday struck down Illinois’ assault weapons ban on... -
Hoffman Estates sees season end with second round loss to Lincoln-Way Central
Talk about making up for lost time.