Morning Update: UBS buys crisis-stricken Credit Suisse with a rushed, $3.25-billion deal

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Regulators sought a takeover before markets opened Monday for fear that Credit Suisse’s alarmingly fast deterioration could trigger a crushing selloff

Allegations from United Nations investigators that Rwandan-backed rebels, the M23 militia, are recruiting child combatants in eastern Congo could become anFamilies of those missing after Old Montreal fire await news:

in a raging fire last week; police say one body has been discovered in the rubble and six people remain missing.The Supreme Court is set to hear Alberta’s challenge to a federal veto power over provincial natural-resource projects, but Brown, the court’s strongest voice for provincial rights, will beOttawa makes little progress enacting cybersecurity recommendations:

after parliamentarians identified that Crown corporations were at risk of inadvertently acting as gateways into the government’s well-protected networks, the number of organizations subject to Treasury Board’s cyberdefence policies hasn’t budged.opened sharply lower and government bonds and gold rallied in a rush for safety on Monday as the emergency weekend rescue of banking heavyweight Credit Suisse left the financial system facing widespread uncertainty. Around 5:30 a.m. ET, Britain’s FTSE 100 was down 0.79 per cent. Germany’s DAX and France’s CAC 40 lost 0.44 per cent and 0.35 per cent, respectively. In Asia, Japan’s Nikkei closed down 1.42 per cent. Hong Kong’s Hang Seng lost 2.65 per cent. New York futures were down.

 

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UBS offers to buy crisis-stricken Credit Suisse for up to US$1-billion, reports sayA deal could be announced Sunday evening, as regulators seek an agreement before markets open in a bid to avert another selloff Is this deal not contingent on the Swiss Government taking on all of the billions in liabilities and lawsuit liabilities owned by Credit Suisse? And was not UBS being forced to take this on?
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