The Business Times

credit suisse

Companies & Markets

Drew & Napier, Withers to collaborate on claims against Switzerland over Credit Suisse AT1 losses

The Singapore firm has filed arbitration for Japanese claimants; expects to file for Singapore, Hong Kong groups by Q1 2026

The court’s decision is likely to be closely watched by other parties affected by the demise of Credit Suisse.
Banking & Finance

Swiss court rules Credit Suisse bonus cuts were unlawful

The bonus measures affected around 1,000 people, some of whom challenged the decision with Switzerland’s Federal Administrative Court

Credit Suisse's guilty plea stems from the Swiss bank maintaining accounts in Singapore on behalf of US taxpayers who were using offshore accounts to evade US taxes and reporting requirements.
Companies & Markets

Credit Suisse to pay US$511 million as part of agreement with US DOJ in tax evasion case involving Singapore accounts

A CREDIT Suisse unit pleaded guilty to US charges of helping ultra-wealthy Americans evade taxes and will pay a fine of more than US$510 million, the US Department of Justice (DOJ) said on Monday (May...

An analyst says the report itself is unlikely to have any direct impact on UBS, but its findings could set the mood in Switzerland.
Banking & Finance

Verdict on Swiss handling of Credit Suisse meltdown to set tone for UBS

Government wants findings of parliament committee report on the failed lender’s handling to feed into new regulations

ATI bonds were introduced in the aftermath of the global financial crisis to prevent taxpayers from picking up the cost for a bank’s failure.
Banking & Finance

Australia moves ahead to scrap AT1 bonds after Credit Suisse hit

AUSTRALIA’S banking regulator is pushing ahead to scrap the market for contingent convertible securities, despite some concerns, becoming the first country to phase out the securities that were wiped ...

UBS said in a statement that it “welcomes the court’s decision to acquit the bank in connection with a legacy matter related to Credit Suisse.”
Banking & Finance

UBS acquitted over Credit Suisse criminal money laundering case

CREDIT Suisse’s 2022 conviction for failing to prevent the money laundering of a cocaine dealer’s profits was overturned by a Swiss appeals court following the death of one of its former employees who...

Last year, Switzerland’s second-largest bank was taken over by rival UBS Group in an emergency rescue brokered by the Swiss government.
Banking & Finance

Credit Suisse collapse puts Switzerland’s wealth lead at risk

SWITZERLAND’S position as the leading destination for wealth is in jeopardy following the collapse of Credit Suisse, according to a report by Deloitte.

UBS has been cutting thousands of staff across the world following its emergency rescue of Credit Suisse, with the investment bank bearing much of the burden.
Banking & Finance

UBS kept less than half of Credit Suisse’s bankers in Germany

The redundancies are a mix of cuts, early retirement and voluntary departures

Switzerland is a key business for the bank, with UBS deploying around 30 per cent of its capital in the region.
Banking & Finance

UBS pledges US$400 billion in Swiss loans after Credit Suisse

“We are putting money where our mouth is,” says country head Sabine Keller-Busse

UBS’ Asia teams “band together during the difficult times and come out even stronger in the good times”, outgoing regional head Edmund Koh told the audience in Hong Kong.
International

UBS sees growth in all Asia regions

Australia and Singapore led the way, marked by progress in the integration of Credit Suisse

Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
View More