Money

Credit Suisse rescued by UBS

Published

3 years ago

March 20, 2023

ticker NEWS

The two institutions have been discussing it over the weekend, with Swiss financial regulators

Troubled bank Credit Suisse has been rescued by rival UBS in a government-backed deal.

The announcement comes after a weekend of emergency talks between the two banks and Switzerland’s financial regulators.

UBS will pay ₣3 billion Swiss Francs for the 167-year-old institution, and the Swiss National Bank will also provide a liquidity assistance of up to ₣110 billion.

Switzerland’s President Alain Berset says the move was necessary.

“This is one of great breadth for the stability of international finance,” Berset said.

“An uncontrolled collapse of Credit Suisse would lead to incalculable consequences for the country and the international financial system.”

Switzerland’s Finance Minister Karin Keller-Sutter argues the nation had to take responsibility for what has happened to Credit Suisse over the past few weeks, and help steer the financial situation to steady waters.

“We regret that the bank, which was once a model institution in Switzerland and part of our strong location, was able to get into this situation at all,” Keller-Sutter asserted.

Credit Suisse suffered losses following the failure of two smaller U.S. institutions over the past fortnight.

The UBS Group Chairman says his organisation’s aim will be to stabilise proceedings, for both clients and the markets.

“This acquisition is attractive for UBS shareholders but, let us be clear, as far as Credit Suisse is concerned, this is an emergency rescue,” Colm Kelleher declared.

“We have structured a transaction which will preserve the value left in the business while limiting our downside exposure.

“Acquiring Credit Suisse’s capabilities in wealth, asset management and Swiss universal banking will augment UBS’s strategy of growing its capital-light businesses.

“The transaction will bring benefits to clients and create long-term sustainable value for our investors,” Kelleher said.

Money

Australian Dollar surges: What $0.70 means for markets

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

Published

1 day ago

February 18, 2026

Harvey Vargas

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

The Australian dollar has jumped more than 5 percent against the U.S. dollar this year, now trading around $0.70. This rapid rise has sparked mixed reactions for importers and exporters as Australia’s materials sector shows signs of bouncing back, despite concerns over rising interest rates.

Dale Gilham from Wealth Within breaks down the factors behind the AUD surge, the implications for commodities, and what it means for big miners like BHP. From profits to strategy, we explore how the market is reacting to this currency shift.

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#AustralianDollar #AUD #Forex #Investing #Commodities #BHP #Mining #Markets

Money

S&P 500 rises as financial stocks lead and tech slips

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

Published

1 day ago

February 18, 2026

Harvey Vargas

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

The S&P 500 climbed 0.4% on Tuesday, boosted by strong gains in financial stocks. Citigroup and JPMorgan led the rally, showing investors are rotating money into the sector as tech stocks faltered.

Meanwhile, software shares struggled, with ServiceNow, Autodesk, and Palo Alto Networks all seeing notable declines. Concerns around AI disruption continue to affect the software and financial sectors alike.

Market watchers are now turning their attention to upcoming inflation reports later this week, looking for signals that could shape the next moves in the market.

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Money

Australia’s GST debate heats up amid tax reform push

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Published

2 days ago

February 17, 2026

Harvey Vargas

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Australia is facing a fierce debate over tax reform, with fresh calls to broaden the Goods and Services Tax as the government searches for more stable revenue streams. With an ageing population putting pressure on health, pensions and long-term spending, economists argue the current reliance on personal income tax may not be sustainable.

Dr Steven Enticott from CIA Tax joins Ticker to break down the real impact of expanding the GST, including how it could affect lower-income households, whether taxing unrealised gains would change investor behaviour, and what compensation mechanisms could soften the blow on essential goods. The political risks are high, but so are the fiscal stakes.

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