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BBCNEWS World Business Report July 6, 2024

the chairman of the bank has said he is truly sorry for taking the company to the brink of bankruptcy. credit suisse was taken over last month by its rival, ubs, in an emergency deal backed by the swiss government. shareholders were not consulted about the takeover. let s go live now to switzerland and speak to our correspondent, imogen foulkes. it is interesting if you eat so what has come out of this meeting, the boss they are apologising and also a collapse entirely would have been bad news for the country and therefore this was the least bad option. therefore this was the least bad 0 tion. . , , therefore this was the least bad otion. . , , ., option. that is right. it s a blustery option. that is right. it s a blustery day option. that is right. it s a blustery day in option. that is right. it s a| blustery day in switzerland option. that is right. it s a - blustery day in switzerland but there is a tornado of anger blowing through credit suisse s agm. it ....

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BBCNEWS World Business Report June 4, 2024 10:31:00

The chairman of the bank has said he is truly sorry for taking the company to the brink of bankruptcy. credit suisse was taken over last month by its rival, ubs, in an emergency deal backed by the swiss government. shareholders were not consulted about the takeover. let s go live now to switzerland and speak to our correspondent, imogen foulkes. it is interesting if you eat so what has come out of this meeting, the boss they are apologising and also a collapse entirely would have been bad news for the country and therefore this was the least bad option. therefore this was the least bad 0 tion. . , , therefore this was the least bad otion. . , , ., option. that is right. it s a blustery option. that is right. it s a blustery day option. that is right. it s a blustery day in option. that is right. it s a| blustery day in switzerland option. that is right. it s a - blustery day in switzerland but there is a tornado of anger blowing through credit suisse s agm. it is true the top ....

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BBCNEWS World Business Report June 4, 2024 10:32:00

Option. it was this were bankruptcy and that would have led to a financial crisis notjust here in switzerland but right around the world, but the shareholder is one after the other have been standing up after the other have been standing up and saying this is really bad, we weren t consulted, we have lost money. one of them got a very dapper looking gentleman wearing a red tie, he said he was wearing a red tie, he said he was wearing a red tie because the management all deserve a red card. another one got up deserve a red card. another one got up and said he entered his criticism of the swiss government for forcing through this deal, he said some of us take longer to choose our smartphones than our government took to basically get rid of 167 year old bank which is part of swiss history. that tells the issue, switzerland prides itself on being a safe haven, law and order, calmness on financial markets, and this proves it was anything but, there was something coming out of the blue for ....

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