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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 10:33:00

Voting on everything. that in a country that is known for voting on everything.- voting on everything. that is absolutely voting on everything. that is absolutely right. voting on everything. that is absolutely right. they - voting on everything. that is i absolutely right. they expected voting on everything. that is - absolutely right. they expected to have about and they will not get it. they will have to accept their credit suisse shares, currently valued at 10% of what they were valued at 10% of what they were valued at 10% of what they were valued at a few months ago. maybe they will be converted into ubs shares and maybe that could help but one of the problem also is this is not the first time, we had ubs back in the financial crisis in 2009 having to have a massive bailout from the swiss government. now we have the other big swiss historic bank, credit suisse basically going under. if you are a middle class swiss person particularly of the older generation you would invest s ....

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