Fuelled by SVB-generated contagion, Switzerland’s largest bank UBS agreed to buy its longtime rival Credit Suisse for about $3.2 billion on Sunday, Desperation showed in the price – 60% below Credit Suisse’s market cap on Friday night. Credit Suisse fell victim to the post-SVB loss of confidence in the banking system which turned the bank’s …
The post Lucifer Bags Up Swiss Swizz appeared first on Electronics Weekly .