Credit Suisse’s takeover causes turmoil in a $275bn bond market

The hastily arranged purchase of Credit Suisse, a bank, by ubs, its great rival, is reverberating through financial markets. Investors are scrambling to understand the deal and identify knock-on consequences. One is already clear. The decision to write down around SFr16bn ($17bn) in Additional-Tier 1 (at1) bonds issued by Credit Suisse—while stockholders merely suffered enormous […]

FirstFT: Harris Associates sells entire stake in Credit Suisse

Good morning. This article is an on-site version of our FirstFT newsletter. Sign up to our Asia, Europe/Africa or Americas edition to get it sent straight to your inbox every weekday morning Our top story today is a scoop on one of Credit Suisse’s longest-standing supporters selling its entire stake in the scandal-hit Swiss bank. […]