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UBS Group AG will on Wednesday seek to reassure shareholders that its unexpected takeover of rival Credit Suisse Group AG in the biggest bank rescue since the last global financial crash can work.
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European banks are increasingly turning to bespoke deals with investors such as hedge funds to offload some of the risk on multi-billion euro loan portfolios and improve their financial strength, several sources involved told Reuters.
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Switzerland's financial regulator deflected blame for the collapse of the country's second-biggest bank, Credit Suisse, saying it had been quick to respond, calling instead for more powers to take lenders to task.
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McKinsey & Co on Tuesday denied a media report that said the consulting firm was shutting down its corporate restructuring practice.
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Burger chain McDonald's Corp is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about its layoffs as part of a broader company restructuring, the Wall Street Journal reported on Sunday.