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barclays legacy in newspaper ownership marked by controversy and financial struggles

Concerns are rising among employees at the Telegraph about potential shifts towards propaganda under new ownership, as financial struggles and past irregularities haunt the Telegraph Media Group. The Barclays, who bought the Telegraph in 2004, faced declining circulation and aggressive cost-cutting, leading to a turbulent editorial environment and allegations of compromised journalistic integrity. Their ownership has been marked by a complex interplay of financial interests and editorial decisions, raising questions about the future direction of the publications.

ana botin affirms santander's commitment to the uk market

Ana Botin, head of Santander, reassured that the UK operations are not for sale, emphasizing their importance and profitability despite recent leadership changes and regulatory challenges. As she approaches her 65th birthday, Botin remains committed to her role, aiming to enhance the bank's performance amid scrutiny over its share price and strategic direction.

parliamentary committee calls for reforms after credit suisse collapse

The Parliamentary Investigation Committee (PUK) has presented a report on the Credit Suisse crisis, highlighting years of mismanagement and regulatory failures that led to its emergency merger with UBS. The PUK will recommend measures to the Federal Council, which must respond by spring 2025, while UBS supports most proposals to enhance the financial center's resilience. The report criticizes the "too big to fail" legislation and the lack of effective supervisory tools during the crisis.

PUK report highlights failures in Swiss authorities during Credit Suisse crisis

The Parliamentary Commission of Inquiry's report on Credit Suisse's downfall highlights years of mismanagement, scandals, and a lack of compliance with regulatory authorities, leading to a crisis that necessitated an emergency merger with UBS. The report criticizes the "too big to fail" legislation for being overly lenient and calls for improved cooperation among authorities and better risk management. It also emphasizes the need for lessons to be learned, as Switzerland now has only one globally systemically important bank.

credit suisse takeover by ubs triggers investigations and employee layoffs

Around a thousand employees at Credit Suisse are affected as UBS completes its acquisition, marking the end of CS's 167-year history. The Swiss parliament debates the emergency takeover, while a Parliamentary Commission of Inquiry investigates the circumstances surrounding it. UBS has also terminated federal guarantees, and numerous complaints regarding the financial terms of the takeover have been filed.

swiss authorities face scrutiny in credit suisse crisis management report

Former Credit Suisse executives and Swiss authorities attended hearings regarding the management of the CS crisis, with the PUK set to make twenty recommendations to the Federal Council by spring 2025. The report criticizes the lack of tools available to authorities and highlights the need for improved cooperation and information sharing among them. The PUK also noted that the handover of responsibilities from former Finance Minister Ueli Maurer to Karin Keller-Sutter was inadequate, particularly concerning the critical CS dossier.

Zurich bans Rottweiler purchases amid concerns over dog bite incidents

The Zurich cantonal government will ban the purchase of new Rottweilers starting in 2025 due to safety concerns following serious bite incidents. Current owners must apply for a license to keep their dogs, as Rottweilers are deemed to pose a higher risk compared to other breeds.In related news, the Parliamentary Investigation Committee (PUK) is set to release its report on the downfall of Credit Suisse, covering events from 2015 to the emergency merger with UBS. The findings will be presented to Parliament, highlighting the management of authorities during this crisis.

credit suisse crisis exposes failures of leadership and regulatory oversight

Critics argue that Thomas Jordan, head of the National Bank, failed to support Credit Suisse adequately during its crisis, opting for a passive approach that left the federal government to handle a CHF 9 billion forced sale. Meanwhile, Axel Lehmann, the last Chairman of CS, defends his tenure, attributing the bank's decline to his predecessors and facing potential legal challenges. Finance Minister Karin Keller-Sutter is praised for her decisive actions post-crisis, but questions remain about the implications of a state-backed UBS and the regulatory failures of FINMA under Marlene Amstad.

credit suisse crisis inquiry reveals accountability and leadership failures

Axel Lehmann, Chairman of Credit Suisse, faces scrutiny over the bank's decline, attributing blame to his predecessors while defending his actions during the crisis. Legal challenges loom, including a lawsuit in the U.S. for allegedly providing false information, as the Parliamentary Commission of Inquiry investigates the bank's management and regulatory failures. The fallout raises questions about the effectiveness of the Financial Market Supervisory Authority and the National Bank's responses during the crisis.

UBS Acquires Credit Suisse Amid Financial Turmoil and Regulatory Challenges

UBS's acquisition of Credit Suisse, finalized on March 19, 2023, marked the end of a turbulent era for the latter, which faced significant financial challenges, including massive losses and client withdrawals. The Swiss government and the Swiss National Bank provided substantial support, including liquidity assistance and guarantees totaling CHF 109 billion. The Financial Market Supervisory Authority, Finma, is now exploring additional crisis management options following the merger.
13:29 10.12.2024
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