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2min chapter
The Silicon Valley Bank Collapse
Down to Business English
Credit Suisse's Problems
The Union Bank of Switzerland, or UBS, would acquire Credit Suisse for $3.3 billion with a further $284 billion in liquidity and guarantees offered by the Swiss National Bank. Investors will get one UBS share for every 22.48 shares they had in Credit Suisse. The combined workforce of USB and Credit Suisse will likely see a 30% cut in their number.
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