Transcripts for KPIX CBS Evening News With Norah ODonnell 20240604 22:30:15 archive.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archive.org Daily Mail and Mail on Sunday newspapers.
To rescue credit suisse before the opening of financial markets on monday. the concerns jobs could be lost, thousands in london branches of those banks. just thousands in london branches of those banks- thousands in london branches of those banks. , , , ., those banks. just the past hour we have had reports those banks. just the past hour we have had reports that those banks. just the past hour we have had reports that ubs - those banks. just the past hour we have had reports that ubs the - those banks. just the past hour we have had reports that ubs the big| have had reports that ubs the big bank banking voltaire has tabled an offer for credit suisse of around $1 billion, or up to. the closing stock price of credit suisse on friday values at something like 8 billion so that is pretty cheap and we heard that credit suisse may well be pushing back and that as well. i suspect there could be negotiations. we heard that credit suisse may well be pushing back on that as well. i suspect
Age of cyber flash mobs. because of this news could flash around the world and you get explosions of passion that flare-up and die down. now we saw the political implications with the arab spring and the implications in the fashion and music world where suddenly things become trendy and then disappear from sight. we ve seen it in social interactions. i mean, last summer a teenager i know had a pizza party for about a dozen kids. someone mentioned it on social media and within minutes there were hundreds of teenagers there and the party was ruined. but more seriously. in the banking world, banking runs are not new. panics are always at the heart of any bank collapse. but the difference between now and the 20th century was that in the 20th century they took a long time. because people had to go to a bank branch and cue up, and see people in streets and get pieces of paper and it would take days or weeks.
And want a consultation period and a vote, but there could be an announcement within the next hour, which sums up the urgency we are facing him. credit suisse s troubles have become the banking world s troubles, really. money has started to disappear out of stocks across the board. they were sliding all week and friday was another bad day, said the aim here is to give reassurance to the wider banking world to get this deal done. i was world to get this deal done. i was tellin: world to get this deal done. i was telling our world to get this deal done. i was telling our viewers world to get this deal done. i was telling our viewers an world to get this deal done. i was telling our viewers an hour - world to get this deal done. i was telling our viewers an hour ago that the swiss government will hold an important press conference but we have been given no timing and no location, but there is an urgency around this, isn t there? certainly. the finer points around this, isn t ther
Business correspondent gave me more details. ubs has tabled an offer for credit suisse of $1 billion, or up to. the closing stock price of credit suisse on friday has something like 8 billion, so that is pretty cheap. and then we heard that credit suisse may well be pushing back on ack as well and i suspect that could be negotiations. we are also hearing that the swiss government, which is overseeing these negotiations, could potentially change the law in switzerland to fast track this through. 0rdinarily, something like this, a merger of two banks could require 2 6 weeks of consultation with shareholders and then there would be a vote but we are being told that potentially we could get an announcement by 6pm swiss time, 5pm uk time. that kind of shows you the urgency here. credit suisse s troubles have turned into the banking world s troubles and stock prices across the world slid last week. i think what they are trying to do is give some reassurances really, before the markets open