UBS is set to take over its troubled Swiss rival Credit Suisse for $3.25 billion following weekend crunch talks aimed at preventing a wider international banking crisis, but Asian equities sank Monday (20 March) on lingering worries about the sector.
The shotgun wedding hammered out between the two Swiss banks last weekend will create a 120,000-strong financial institution - and it already seems inevitable that the workforce will shrink, The Guardian reported.Swit