UBS to buy Credit Suisse for $3.24bn in government-brokered deal

Switzerland’s largest bank, UBS, has agreed to buy Credit Suisse for 3 billion Swiss francs ($3.24bn), officials from the banks have said, in a deal designed to contain a widening crisis of confidence in global finance.

The agreement, announced late on Sunday, includes 100 billion francs ($108bn) in liquidity assistance for UBS and Credit Suisse from the Swiss central bank.

(Al Jazeera)