World Business Report - Credit Suisse gets $54 billion lifeline

Download Credit Suisse gets $54 billion lifeline

Credit Suisse accepted a $54 billion bailout fund from Switzerland’s Central Bank, after its share price plunged up to 30% on Wednesday. The nation’s second largest bank’s stock price rebounded on Thursday but with issues surrounding the bank for years, investors are asking if the bailout money will save it from more trouble.

Despite the bank crisis in Europe, The European Central Bank has decided to raise Eurozone interests rate by 0.5 percentage points. Meanwhile in the UK, Tik Tok has been banned in all government devices – following similar moves in the EU and elsewhere.

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Published on Thursday, 16th March 2023.

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