The Financial Stability Board designated Switzerland's two biggest banks as so huge and critical to the world's global financial architecture that they must not be allowed to fail.
BERN, Switzerland (AN) — In a stunning development, Swiss authorities forced the nation's biggest bank, UBS, to acquire its junior rival Credit Suisse in a bid to restore confidence in the financial system.
Swiss President Alain Berset announced the hastily arranged merger deal between the two banks after Credit Suisse shares plunged and depositors looked for the exits, stoking fears of collapse at one of the world's 30 banks that the Financial Stability Board designated as "too big to fail."
The chair of the talks called for optimism despite divisions among plastic-producing nations and those urging restraints.
The wars in Europe and the Middle East, climate change and soaring national debts hung over the annual talks.
A new U.N. report shows how prioritizing debt over services like health care and education plagues the developing world.
Just 22.3% of all the e-waste - any product that has a plug or battery - was properly collected and recycled in 2022.
The chair of the talks called for optimism despite divisions among plastic-producing nations and those urging restraints.
The group of organizations that reviewed the U.N. agency recommends several ways of strengthening its neutrality.
The wars in Europe and the Middle East, climate change and soaring national debts hung over the annual talks.
The humanitarian nightmare and attacks on civilians in Gaza dominated the U.N. Security Council's quarterly open debate.
