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the downfall of credit suisse and missed opportunities for salvation

The fall of Credit Suisse is detailed in a new book and film by Arthur Rutishauser and Simon Helbling, revealing a leadership team in disarray as they faced impending collapse. Despite a last-ditch effort for help from UBS, the bank's fate was sealed when it was sold at a bargain price on March 19, 2023. Notably, Bob Diamond had previously offered $5 billion to separate CS's troubled investment bank, but the proposal was ultimately rejected as the bank pursued other plans.

major banks face online banking outages again on payday

Customers of major UK banks, including Lloyds, Nationwide, TSB, and Halifax, faced online banking issues on payday for the second consecutive month, following a similar incident at Barclays. Experts suggest that simultaneous outages may indicate shared IT systems among banks, raising concerns about external IT dependencies. As MPs seek accountability for these failures, the impact on customers is exacerbated by the decline of high street branches, making access to banking services more critical.

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