Swiss Prosecutors Investigate Credit Suisse Takeover

Switzerland's Federal Prosecutor is investigating the state-backed takeover of Credit Suisse by UBS Group, looking into potential breaches of criminal law by government officials, regulators, and executives at the two banks. The emergency merger was agreed upon last month to avoid a meltdown in the country's financial system. The investigation is aimed at identifying any criminal offenses that could fall within the prosecutor's competence. The takeover has sparked concern among critics about the size of the merged bank, with $1.6 trillion in assets and more than 120,000 staff worldwide.