UBS AG – Page 2

UBS and Other Bank Stocks Fall After Credit Suisse’s Firesale

Investors are still spooked after UBS bought its Swiss peer, with confidence in the banking sector in short supply.

Swiss regulators announced that UBS, Switzerland’s largest bank, would take over the troubled Credit Suisse.

Among the funds to bet on the rescue deal were two that specialize in buying the bonds of companies on the brink of bankruptcy.

America’s central bank and its counterparts around the world are rushing to cushion markets against the impact of bank problems.

The Swiss government is close to announcing a deal for UBS to buy Credit Suisse, its smaller rival, for about $1 billion.