BBCNEWS World Business Report July 6, 2024
a weekend of fraught negotiations in switzerland, as the authorities there, its central bank and leaders of its two biggest banks tried to prevent another damaging financial crisis. late on sunday, it was announced the troubled bank credit suisse was being taken over by its rival ubs in a government—backed rescue worth more than $3.1 billion. that's less than half the value of credit suisse at the close of trade on friday. the deal�*s been widely welcomed, including by the bank of england, the european central bank and by the us federal reserve. but not everyone�*s happy. credi...