The Financial Stability Board designated the two biggest Swiss banks as so important economically they are 'too big to fail.'
BERN, Switzerland (AN) — In a stunning development, Swiss authorities forced the nation's biggest bank, UBS, to acquire its junior rival Credit Suisse in a bid to restore confidence in the financial system.
Swiss President Alain Berset announced the hastily arranged merger deal between the two banks after Credit Suisse shares plunged and depositors looked for the exits, stoking fears of collapse at one of the world's 30 banks that the Financial Stability Board designated as "too big to fail."
China requested World Trade Organization-led dispute consultations over Trump's tariffs, now as high as 145%.
Markets plunged in Asia, Europe and the U.S. as leaders were shocked at Trump's tariffs and the risk of a global trade war.
The spike in the world’s deadliest infectious disease comes as officials warn global aid cuts could lead to a resurgence.
Minimum wage workers in the E.U. had the most purchasing power in Germany and the least in Estonia.
Washington and Tehran held a second round of negotiations. The U.N. watchdog said an Iranian atomic bomb is 'not far off.'
Deal: A one-year Arete News | Plus+ annual subscription with unrestricted digital access, normally $100, now for only $30.
WHO members finally reach consensus on a draft pandemic agreement after 13 formal rounds of meetings since Dec. 2021.
An A.U.-E.U. workshop focused on how to use AI to enable the 'economic integration' and success of more techology startups.
