Credit Suisse

The Supreme Court on Friday asked low cost airline SpiceJet to pay USD 1 million per month for six months to global investment bank and financial services firm Credit Suisse AG towards repayment of dues.

The Supreme Court has come down hard on SpiceJet Chairman and Managing Director Ajay Singh, warning him he will be sent to Tihar jail for non-compliance with its order on making payment to Credit Suisse.

SpiceJet said on Monday it would pay $1.5 million to Credit Suisse as demanded by the Supreme Court.

Banking giant UBS said Thursday that its merger with former rival Credit Suisse and full absorbtion of its Swiss unit would cause 3,000 job cuts in Switzerland in the coming years.

Several hundred Credit Suisse investment bankers will soon be fired as UBS begins to implement the merger of the two banks, the Swiss weekly HandelsZeitung said Friday.

Swiss banking group UBS plans to cut 35,000 jobs at Credit Suisse -- more than half its workforce -- as part of the emergency rescue takeover of its rival in March, according to a report by Bloomberg News on Tuesday.

UBS announced Monday it had finalised the takeover of its former rival Credit Suisse, clearing the way for the Herculean task of integrating two of the world's most important banks.

UBS said Monday that it had finalised the takeover of its former rival Credit Suisse, clearing the way for a Herculean task of integration that will be closely watched by clients, employees and Swiss political leaders.

Battered shares in crisis-hit Credit Suisse no longer meet criteria for listing on the New York Stock Exchange, the bank said Wednesday, adding that its upcoming sale to UBS would resolve the issue.

A Singapore court on Friday ordered Credit Suisse to pay an ex-Georgian prime minister $926 million for failing in its duty to safeguard his assets, in another blow to the fallen banking giant.

Among the many concerns over the new megabank created by the merger of UBS and the beleagured Credit Suisse is how it will affect jobs and competition in Switzerland's banking sector.

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank (SVB) last month.

Tens of billions were withdrawn from Credit Suisse in the first three months of 2023, the bank's earnings report showed Monday, providing clues to the towering challenges ahead as UBS prepares an emergency takeover.

Switzerland's parliament rejected on Wednesday the government's 109 billion Swiss francs ($120.82 billion) aid for Credit Suisse's merger with UBS, leaving the fallen bank's hastily arranged rescue without a largely symbolic parliamentary blessing.

The failure of banking giant Credit Suisse and its emergency takeover does not mean the downfall of Switzerland, President Alain Berset said Tuesday, insisting bankruptcy would have had disastrous consequences.

The Supreme Court on Friday asked low cost airline SpiceJet to pay USD 1 million per month for six months to global investment bank and financial services firm Credit Suisse AG towards repayment of dues.

The Supreme Court has come down hard on SpiceJet Chairman and Managing Director Ajay Singh, warning him he will be sent to Tihar jail for non-compliance with its order on making payment to Credit Suisse.

SpiceJet said on Monday it would pay $1.5 million to Credit Suisse as demanded by the Supreme Court.

Banking giant UBS said Thursday that its merger with former rival Credit Suisse and full absorbtion of its Swiss unit would cause 3,000 job cuts in Switzerland in the coming years.

Several hundred Credit Suisse investment bankers will soon be fired as UBS begins to implement the merger of the two banks, the Swiss weekly HandelsZeitung said Friday.

Swiss banking group UBS plans to cut 35,000 jobs at Credit Suisse -- more than half its workforce -- as part of the emergency rescue takeover of its rival in March, according to a report by Bloomberg News on Tuesday.

UBS announced Monday it had finalised the takeover of its former rival Credit Suisse, clearing the way for the Herculean task of integrating two of the world's most important banks.

UBS said Monday that it had finalised the takeover of its former rival Credit Suisse, clearing the way for a Herculean task of integration that will be closely watched by clients, employees and Swiss political leaders.

Battered shares in crisis-hit Credit Suisse no longer meet criteria for listing on the New York Stock Exchange, the bank said Wednesday, adding that its upcoming sale to UBS would resolve the issue.

A Singapore court on Friday ordered Credit Suisse to pay an ex-Georgian prime minister $926 million for failing in its duty to safeguard his assets, in another blow to the fallen banking giant.

Among the many concerns over the new megabank created by the merger of UBS and the beleagured Credit Suisse is how it will affect jobs and competition in Switzerland's banking sector.

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank (SVB) last month.

Tens of billions were withdrawn from Credit Suisse in the first three months of 2023, the bank's earnings report showed Monday, providing clues to the towering challenges ahead as UBS prepares an emergency takeover.

Switzerland's parliament rejected on Wednesday the government's 109 billion Swiss francs ($120.82 billion) aid for Credit Suisse's merger with UBS, leaving the fallen bank's hastily arranged rescue without a largely symbolic parliamentary blessing.

The failure of banking giant Credit Suisse and its emergency takeover does not mean the downfall of Switzerland, President Alain Berset said Tuesday, insisting bankruptcy would have had disastrous consequences.