![]() They did not give any more details.Ĭredit Suisse shares lost a quarter of their value in the last week. Swiss broadcaster SRF and other media reported that the government would hold an “important” press conference later on Sunday. The Swiss Bank Employees Association on Sunday called for the immediate creation of a task force to deal with the risk to jobs. One source previously said the talks were encountering significant obstacles, and 10,000 jobs may have to be cut if the two banks combined. The guarantees would cover the cost of winding down parts of Credit Suisse and potential litigation charges. It said there was no guarantee that terms will remain the same or that a deal would be reached.Ī person with knowledge of the talks earlier told Reuters that UBS sought $6 billion from the Swiss government as part of a possible purchase of its rival. UBS has also insisted on a “material adverse change” that voids the deal in the event its credit default spreads jump by 100 basis points or more, the report added. Citing people familiar with the matter, it said an offer made on Sunday was of 0.25 Swiss francs ($0.27) per Credit Suisse share, well below the closing price of 1.86 Swiss francs on Friday, March 17, and all but wiping out the bank’s existing shareholders. The Financial Times reported that the all-share deal was set to be signed as early as Sunday. If the takeover falls apart, Switzerland is considering taking over the bank in full or holding a significant equity stake, Bloomberg reported.Ĭredit Suisse and UBS declined to comment, and the Swiss government did not immediately respond to a request for comment. As one of 30 global banks seen as systemically important, any deal for Credit Suisse could ripple through global financial markets.īloomberg News, citing people with knowledge of the matter, said Credit Suisse was resisting the offer of up to $1 billion, believing it to be too low and that it would hurt shareholders and employees who hold deferred stock. Swiss authorities are examining imposing losses on Credit Suisse bondholders as part of a rescue, two sources with knowledge of the matter said on Sunday, March 19, while European regulators are apprehensive for fear it could hit investor confidence elsewhere.Īuthorities have been racing to rescue the 167-year-old bank, among the world’s largest wealth managers, after a brutal week that saw the second and third largest US bank failures in history. upGrad facilitates highest CTC of INR 2.5cr p.a.UBS Group is in emergency talks to buy fellow Swiss banking giant Credit Suisse as authorities bid to stave off turmoil when global markets reopen on Monday, March 20, with reports saying UBS has offered to pay up to $1 billion.A culinary delight at Oakridge International School.No access: Altone raises Vavurla road issue with CM.Family of five on bike meets with accident at Vasco, mother dies.Coastal body orders razing of 2 structures on Mandrem beach.Dir of panchayats addresses Honda locals’ woes, to put waste mgmt solution in place.On Sunday, Barcelona welcome the reigning Spanish, European and World champions with a nine-point advantage, and should they put it across Real Madrid, they will take an almost unassailable 12-point lead with 12 matches left to be played. The Barcelona keeper holds the best record in Europe’s top five leagues, with eight goals conceded and 19 clean sheets. Interestingly, while Barcelona striker Robert Lewandowski is LaLiga's top scorer at the moment with 15 goals, Marc-Andre ter Stegen is arguably in the form of his life. They are used to winning by scoring a lot of goals,” said Villa, Spain’s top scorer. “Barcelona play the ball very well, their forwards score a lot of goals, but what gives them an edge is their defensive record. Xavi’s side can take a giant step towards the title if they can pocket all three points and Villa believes his former team has the upper-hand. It’s a great sign.” Barcelona go into the El Clasico on Sunday with a nine-point advantage over their fierce rivals, Real Madrid. This is a different Barcelona side, one that’s solid in defence. When a team wins 5-0 and a forward scores 30 goals (a season), it draws attention of the spectators and we tend to highlight these aspects. The teams that are successful have to be secure in defense. “I am not going to say anything contrary just because I am an attacking player. “This is the reality that we often overlook,” the Spanish World Cup winner told reporters during a global conference, with TOI the only invitee from India. It’s a record that is not talked as much as Barcelona’s goals, feels David Villa, their former star striker who won two league titles and the UEFA Champions League during his three-year stay at the club between 20.
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