is that really he didn t quite understand it pretty sweets decision to stop its review midstream has left many questions unanswered, including questions about the thoroughness of its prior investigative efforts, the extent to which it served interest, and the banks were all in servicing fleeing justice after the war. basically they re saying it s just not clear really what happened here ? we can clear it all up, and they were shooting investigation down. until the senate stepped in and said this is not adequate . you need to do something more here. you can t simply say there s nothing to find here. the ombudsman for credit suites . he was he was hired by credit suisse to look into this right neil barofsky, the name he used to be the inspector general for tarp. yeah, he s a guy who knows what he s doing. what he s doing is tremendous integrity. neil barofsky. so they re they re just saying he didn t know what he was talking about. what they re saying is that he didn t really understand
have led to worries that a recession may be on the horizon and to stock market selloffs. so bad news is bad again. we will see if that relationship holds on friday when the full monthly employment report is released. ., ., ,, released. samaria hussein reporting released. samaria hussein reporting on released. samaria hussein reporting on that - released. samaria hussein reporting on that story - released. samaria hussein reporting on that story for| released. samaria hussein i reporting on that story for us. switzerland has ordered the bonuses of top executives of credit suites to be cut following the forced merger with ubs. 1000 employees will be affect it and the combined bonuses have a value of over $55 million. the air travel industry was one of the hardest hit during the pandemic but add that to an economic crisis and that to an economic crisis and thatis that to an economic crisis and that is the situation sri lankan airlines found itself in. the carrier is now exploring priv
first citizens. this is a raleigh, north carolina bank. this is buying up the deposits and loans of svb. what else do we know? christina little bit similar to what we saw, with new york community bancorp getting signature bank in a way similar to youtube s takeover of credit suites. because this is not a normal acquisition, right? this is a regulator choreographed deal, which includes incentives even though first citizen says this came after competitive bidding process. they are getting a number of sweeteners in the deal, for example, they are getting a discount 16.5 billion on a 72 billion portfolio, according to the fda. see first citizens also says they re getting a line of credit . this is a lost share deal whereby they share and some of the gains and losses on those loans that reduces the risk to first citizens allows them in their words to preserve their strong financial position, so there s that this was also according to the structured to minimize disruption to depositors, righ
correspondent michelle fleury. the turbulence we ve been seeing over the past week or so is very alarming and investors are very easily spooked. if you go back to what your previous guess was saying about the market, it just guess was saying about the market, itjust depends on who you are. so if you are first a shareholder in first republic bank which is a regional american bank you might not be feeling the same way. there are still lingering concerns about the health and the future of that bank will stop there are reports that j. p. will stop there are reports that j.p. morgan is leading the way amongst sort of ache and torture of banks to try and come up with a solution to help first republic bank. so it underscores the fact we are not out of the woods yet. there is still fears about stability within the financial system. investors are still very skittish, and part because of what is happened at credit suites and that takeover ljy at credit suites and that takeover by ubs has played
with its largest rival in trying to stabilise its finances. with its largest rival in trying to stabilise its finances. shares fell sharl in stabilise its finances. shares fell sharply in recent stabilise its finances. shares fell sharply in recent days stabilise its finances. shares fell sharply in recent days after - stabilise its finances. shares fell sharply in recent days after it. stabilise its finances. shares fell. sharply in recent days after it said it found weakness in its financial reporting prompt in the swiss national bank to step in with an emergency $54 billion lifeline. let s discuss this further. i m joined now by lananh nguyen who is a us finance editor for reuters live from new york. thank you forjoining us. so, first off, there s talk of ubs stepping in. but there is a preview so there isn t there? what are they asking for? there are many provisos. which ubs is seeking for? there are many provisos. which ubs is seeking 16 for? there are many provisos. whic