global financial crisis

According to reports, according to Sky News, the UK banking regulator has approved UBS’s acquisition of Credit Suisse. Credit Suisse, with about 5000 employees in the UK, is one of the largest investment banking employers in the City of London. Currently, global financial regulators are racing to contain the biggest banking crisis since 2008. According to reports, the Bank of England has indicated to international peers and UBS that it will support this emergency transaction, and both European banking giants hope to announce a deal later on Sunday. British Chancellor of the Exchequer Hunter and Bank of England Governor Bailey are closely monitoring the progress of the transaction. Sources in the City of London said that this weekend, the US authorities have put pressure on the Swiss government to speed up the formulation of a crisis resolution. UK regulators are known to support the merger of UBS and Credit Suisse Analysis based on this information:According to recent reports from Sky…