Credit Suisse's Future Hangs in the Balance as UBS and BlackRock Consider Takeover Talks

Talks between UBS and Credit Suisse continue as UBS seeks $6 billion from the Swiss government to cover costs if it were to buy its struggling rival. The guarantees UBS is seeking would cover the cost of winding down parts of Credit Suisse and potential litigation charges. The Swiss government is preparing to use emergency measures to fast-track the deal. Credit Suisse shares lost a quarter of their value in the last week, and the bank was forced to tap $54 billion in central bank funding. There are reports of interest for Credit Suisse from other rivals, and 10,000 jobs may have to be cut if the two banks combine.