Investors to sue Swiss government after Credit Suisse case riotimesonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from riotimesonline.com Daily Mail and Mail on Sunday newspapers.
BERN - UBS agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs (S$7.2 billion) in losses, in a shotgun merger engineered by Swiss authorities to avoid more market-shaking turmoil in global banking. The deal includes 100 billion Swiss francs ($108 billion) in liquidity.