March 29, 2023 15:57 (IST)
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Swiss bank major UBS to acquire Credit Suisse

Swiss bank major UBS is planning to acquire troubled Credit Suisse in a government-backed deal.

Losses, mismanagement, failed strategies; how Credit Suisse reached crisis point

The crisis in Credit Suisse had been brewing since 2021, but the Swiss lender rattled investors on Tuesday by revealing that it had discovered "material weaknesses" in its 2021 and 2022 financial reports. On Wednesday, its stocks tumbled to an all-time low, stoking concerns over the overall heath of the banking sector, especially after the collapse of two banks in the U.S.

Adani Properties raised Rs 800 cr from Credit Suisse to finance expansion plans: Report

Adani Properties Pvt Ltd (APPL) has raised Rs 800 crore from Credit Suisse to finance its expansion plans, media reports said.