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By Mohammed Kudrati The collapse of five banks over 12 days has caused shockwaves throughout global financial markets. These five banks are spread across the United States and Europe. There is little to link them directly, except the general trends of central banks raising interest rates to combat inflation and COVID-19 pandemic-era easy money policies. However, their near simultaneous troubles have led to regulators across the globe hurriedly taking measures to prevent further crisis. Though not all of these five banks have failed, and a larger domino effect is yet to be observed; the pace of...
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By Mohammed Kudrati Swiss multinational banking group UBS announced that it was acquiring its smaller peer Credit Suisse in an all-share transaction worth $3.2 billion late on Sunday night. The transaction is expected to close in the second quarter of 2023 and has full government approval as it was facilitated by the trio of the Swiss National Bank, the Swiss Federal Ministry of Finance and FINMA, the Swiss market regulator. Swiss authorities have pushed the deal through based on emergency powers which ensures that the deal will not require any shareholder approval. The follows a five-day orde...
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