The Financial Stability Board designated Switzerland's two biggest banks as so critical to the world that they must not be allowed 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."
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.
The South African president invoked Nelson Mandela's emphasis on global 'interdependence' and cooperation.
Billionaires' wealth 'surged' by $2 trillion in a year, while 44% of the world population lives on less than $6.85 a day.
One donor predicts more than 1 million kids in poor countries could die without U.S. funding for Gavi, the Vaccine Alliance.
In a surprise turnaround, the U.S. president wants the New York Republican congresswoman to stay in her job.
From Africa to the Americas, leaders spoke of the need to ensure that policy decisions are more scientifically informed.
Experts agreed science and diplomacy need to evolve to build trust, solve problems, and promote national interests.
