BBCNEWS BBC News July 6, 2024
the government of switzerland says that the country's biggest bank, ubs, has taken over its troubled rival, credit suisse, in an emergency measure designed to protect the swiss economy. credit suisse had been caught up in the market uncertainty triggered by the collapse, nine days ago, of america's silicon valley bank. it had been offered an emergency credit facility of more than $50 billion by switzerland's central bank, but that had not prevented a sharp fall in its share price. here's the swiss president, alain berset, speaking at a press conference a short time ago. on conference...