“Comparison sites only show products with which they have an economic relationship,” said David Silberman, a senior fellow at the nonprofit Center for Responsible Lending. The sites can be useful, he said, as long as consumers understand the limitations. “It’s not objective advice.” The bureau’s move …
Former CEO and newly appointed advisor Ralph Hamers, adjusts the jacket of Sergio Ermotti, newly rehired CEO of UBS Group AG, while sitting next to UBS Chairman Colm Kelleher – REUTERS/Stefan Wermuth UBS has drafted in the chief executive who helped it recover from the financial …
Tetra Images | Tetra Images | Getty Images The recent banking crisis has fueled concern of a “credit crunch” and the resulting negative impact on households, businesses and the U.S. economy. But what is a credit crunch and how might you prepare? Loans would be tougher …
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Banking giant UBS is buying troubled rival Credit Suisse for almost £2.7bn – MICHAEL BUHOLZER/EPA-EFE/Shutterstock Banking stocks on the FTSE 100 and oil prices have tumbled after the historic state-backed rescue of troubled lender Credit Suisse by Swiss rival UBS Group. In a package orchestrated by …
Stress in the U.S. banking system has jumped across the Atlantic, sparking turmoil for embattled Swiss bank Credit Suisse. The European lender has long been dogged by issues. But on Wednesday, problems surrounding the bank exploded into plain view. After a whirlwind 24 hours marked by …
On Thursday, Credit Suisse announced measures to bolster its liquidity by securing up to $54 billion from Swiss National Bank. The decision followed a steep 30% drop in the bank’s shares, increasing concerns about the banking sector’s deposit crisis. Regulators and financial leaders temporarily stabilized markets …
U.S. stocks plummeted Wednesday as two economic prints showed a slowdown in the U.S. economy in February, while fresh turmoil at Credit Suisse (CS) renewed investor concerns over the banking sector. The S&P 500 (^GSPC) dropped 0.7%, while the Dow Jones Industrial Average (^DJI) lost 0/9%. …
(Bloomberg) — Credit Suisse Group AG said it is adopting a new plan to fix “material weaknesses” in its reporting and control procedures for the past two years, following a fresh review of its financial statements prompted by concerns raised by US regulators last week. Most …
(Bloomberg) — Harris Associates stock picker David Herro sold the firm’s entire stake in Credit Suisse Group AG, ending ties with the bank after about two decades of ownership and piling further pressure on the troubled Swiss lender’s leadership. Most Read from Bloomberg The investment was …
