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Search resuls for: "John O'Donnell Stefania Spezzati"


2 mentions found


☆ Analysis: UBS swallows doomed Credit Suisse, casting shadow over Switzerland
  + stars: | 2023-03-20 | by ( John O'Donnell Stefania Spezzati | John O'Donnell | Stefania Spezzati | ) www.reuters.com   time to read: +6 min
It will change the landscape of banking in Switzerland, where branches of Credit Suisse and UBS are dotted everywhere, sometimes just metres apart. The Credit Suisse rescue, orchestrated with public money, shows banks' continued vulnerability and how their problems can quickly rebound on their home country. But it also removes a competitor to Wall Street, with UBS planning to pare back much of Credit Suisse’s investment bank. During the great financial crash, it was UBS and not Credit Suisse that needed state support. UBS earned $7.6 billion in profit in 2022, while Credit Suisse lost $7.9 billion.
☆ Analysis: UBS swallows Credit Suisse, casting shadow over Switzerland
  + stars: | 2023-03-20 | by ( John O'Donnell Stefania Spezzati | John O'Donnell | Stefania Spezzati | ) www.reuters.com   time to read: +6 min
It will change the landscape of banking in Switzerland, where branches of Credit Suisse and UBS are dotted everywhere, sometimes just metres apart. The Credit Suisse rescue, orchestrated with public money, shows banks' continued vulnerability and how their problems can quickly rebound on their home country. But it also removes a competitor to Wall Street, with UBS planning to pare back much of Credit Suisse’s investment bank. During the great financial crash, it was UBS and not Credit Suisse that needed state support. UBS earned $7.6 billion in profit in 2022, while Credit Suisse lost $7.9 billion.
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