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UBS buys beleaguered Credit score Suisse to keep away from doable monetary contagion: Large layoffs are possible
The Suisse brand on the headquarters of Credit score Suisse financial institution in Zurich, March 18, 2023. – Switzerland’s largest financial institution, UBS, is in talks to purchase all or a part of Credit score Suisse, in keeping with a report within the Monetary Occasions. Credit score Suisse, Switzerland’s second-biggest financial institution, got here underneath stress this week because the failure of two regional US lenders rocked the business. (Photograph by Fabrice COFFRINI/AFP) (Photograph by FABRICE COFFRINI/AFP through Getty Photographs) AFP through Getty Photographs Credit score Suisse, the troubled Swiss-based funding financial institution, has acquired a proposal from home rival Union Financial institution of Switzerland (UBS) to purchase it for…