Russian auto manufacturer GAZ sued the German carmaker for breach of contract after Volkswagen terminated the agreement in August.
Under the terms of the all-share deal, Credit Suisse shareholders will receive 1 UBS share for every 22.48 Credit Suisse shares held for a total consideration of 3 billion francs.
Switzerland's largest bank, UBS, is reported to be negotiating to buy all or part of Credit Suisse, with the blessing of the Swiss regulatory authorities, according to news reports.
Company replaced thousands of components with domestic Chinese substitutes and redesigned 4,000 circuit boards for its products, says Ren Zhengfei.
Shares of First Republic Bank and Credit Suisse dive back deep in the red and stock prices of other major banks also fall, with JP Morgan, Citigroup and Bank of America down at least three percent.
French President Macron invoked a controversial constitutional power to impose the pension overhaul by decree despite two months of coordinated nationwide strikes and some of the biggest protests in decades.
The delegation of more than 50 companies is a sign of rising interest in the global manufacturing hub, which is benefiting from a shift away from China amid Sino-US trade friction.
German union Verdi called for strikes last month as workers demand more pay due to high inflation.
Biggest banks — such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo — agree to prevent First Republic from collapsing and becoming the third American bank to fail in less than a week.
The sharp fall of Credit Suisse shares on Wednesday is prompting questions about a possible global contagion, or worse a repeat of the 2008 financial crisis.
The forum discussed the promising potential of Turkish-Arab financial ties and ways to capitalise on new avenues of investments in start-ups and fintech companies.
Eurozone equities tumbled more than three percent in value and the euro lost one percent against the dollar following the collapse of Silicon Valley Bank.
Subscribe to our Youtube channel for all latest in-depth, on the ground reporting from around the world.
Copyright © 2023 TRT World.
Like
Follow