Banking giant UBS to absorb Credit Suisse's domestic bank

UBS could have spun off the business and floated it in an IPO but the domestic bank has been a solid profit-maker for Credit Suisse and last year it was the only division in the black. The long-awaited announcement was made in tandem with UBS's first earnings report since taking over its stricken rival.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2nlvp9K