News Snapshot:
Fears of customers withdrawing deposits from banks continued to dominate headlines in the past week, triggering sharp declines at several financial stocks this week. Meanwhile, the financial stock that climbed the most in the week ended March 24 agreed to buy up the deposits and some of the loans of failed Signature Bank. Credit Suisse (NYSE:CS) American depositary shares tumbled 57% to $0.86 per share after the Swiss government brokered the sale of the company to its larger rival, UBS Group (NYSE:UBS) for $3.25B in stock. U.S. bond investors are preparing to sue the Swiss government over $17B of Credit...
