UBS agrees to buy Credit Suisse as regulators look to shore up global banking system
with Swiss regulators playing a key part in the deal as governments looked to stem a contagion that threatening the global banking system.
The UBS deal was rushed together before markets reopened for trading Monday after Credit Suisse shares logged their Despite regulators' involvement in the pairing, the deal gives UBS autonomy to run the acquired assets as it sees fit, which could mean significant job cuts, sources told CNBC's David Faber.
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