{"id":1900946,"date":"2023-03-19T12:25:43","date_gmt":"2023-03-19T16:25:43","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/credit-suisse-to-be-bought-by-ubs-for-about-1-billion-report\/"},"modified":"2023-03-19T12:29:07","modified_gmt":"2023-03-19T16:29:07","slug":"credit-suisse-to-be-bought-by-ubs-for-about-1-billion-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/credit-suisse-to-be-bought-by-ubs-for-about-1-billion-report\/","title":{"rendered":"Credit Suisse to be bought by UBS for about $1 billion: Report"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcredit-suisse-to-be-bought-by-ubs-for-about-1-billion-report%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1900946&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"col-12 col-md-7 col-lg-8 col-xl-9 float-left body colgap-l-50\" itemprop=\"mainEntityOfPage\">\n<div class=\"ArticlePage-articleBodyWrapper\">\n<div class=\"ArticlePage-articleBody\" itemprop=\"articleBody\">\n<div class=\"RichTextArticleBody\">\n<div class=\"RichTextArticleBody-body\">\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">              <script type=\"text\/javascript\" src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script>               <\/p>\n<div id=\"Brid_79239099\" class=\"brid\" style=\"width:16;height:9;\">               <\/div>\n<p>               <script type=\"text\/javascript\"> $bp(\"Brid_79239099\", {\"id\":\"27789\",\"width\":\"16\",\"height\":\"9\",\"video\":\"1264812\"}); <\/script>              <\/div>\n<\/p><\/div>\n<p><span class=\"ArticlePage-articleBody-firstLetter\">U<\/span>BS is reportedly close to finalizing a deal to acquire Credit Suisse for $1 billion, as the latter&#8217;s shares hit record lows due to years of scandal and instability. According to sources, the Swiss government is expected to announce the deal soon, bypassing typical financial rules to speed up the process. <\/p>\n<p>Credit Suisse&#8217;s shares had plummeted to an all-time low, dropping by 33% before settling at 25% on March 16, following a two-day decline. Despite a nearly $54 billion bailout from the Swiss National Bank, the bank struggled to stay afloat. <\/p>\n<p>Under the proposed purchase terms, UBS will pay only a fraction of Credit Suisse&#8217;s estimated value of $9.5 billion as of Friday, and the deal could be subject to change or even fall through. <\/p>\n<p>Although Credit Suisse&#8217;s failure is not directly tied to the collapse of Silicon Valley Bank, the impact of the latter&#8217;s banking failure in the United States exacerbated investor fears, leading to the decline in Credit Suisse&#8217;s stocks. <\/p>\n<p>The banking crisis at Silicon Valley Bank, which suffered a negative cash balance of nearly $1 billion, led to its closure on March 9, with the Federal Reserve, Justice Department, and Securities and Exchange Commission investigating the matter. <\/p>\n<p>Treasury Secretary Janet Yellen has assured Congress that the U.S. banking system &#8220;remains sound&#8221; despite the week-long financial turmoil, and the terms of the Credit Suisse-UBS deal could still change or fall apart. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><\/p>\n<hr>\n<p>&#8220;Read More From <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/svb-collapse-ubs-deal-purchase-credit-suisse\">Credit Suisse to be bought by UBS for about $1 billion: Report<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>UBS is reportedly narrowing in on a $1 billion deal to buy out Credit Suisse in the aftermath of record-low shares and spiraling fear over the strength of financial institutions from the collapse of Silicon Valley Bank. Three people close to the bargain told the New York Times on Sunday that the Swiss government is<\/p>\n","protected":false},"author":1,"featured_media":1900947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[4484,10627,6178,3819,18299,22089],"class_list":["post-1900946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-billion","tag-bought","tag-credit","tag-report","tag-suisse","tag-ubs"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1900946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1900946"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1900946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1900947"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1900946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1900946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1900946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}