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View More »Swiss suspend bonus payouts to Credit Suisse staffers
( ) -q-29- UNDATED (Correspondent Jeremy House) “two U.S. banks.”
Switzerland’s government says it’s ordering Credit Suisse to temporarily suspend bonuses for employees after orchestrating a plan for the No. 2 Swiss bank to be taken over by rival UBS.
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TAG: Correspondent Jeremy House reporting.
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VERBATIM: The Swiss Department of Finance says federal law allows the government to set “remuneration-related measures” in cases involving Switzerland’s biggest banks. Authorities in Switzerland scrambled late last week and this past weekend to cobble together a $3.25 billion sale of Credit Suisse to UBS. An outflow of deposits and years of trouble raised fears that it could fail and trigger an international financial crisis after the collapse of two U.S. banks.
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Those states hold two of the party’s first three nominating contests, giving them enormous power in selecting the nominee.
Mr. Trump and his allies hope the events will offer a show of force behind the former president after a sluggish start to his campaign. In recent weeks, his backers have reached out to political operatives and elected officials to secure support for Mr. Trump at a critical point when other Republicans are preparing their own expected challenges.
Bernie Bennett reporting.
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