Swiss Banking Giant UBS Agrees to Buy Credit Suisse for $1 Bln After Behemoth Bank Goes Bust

Share prices of century-and-a-half old Zurich-based corporate bank and financial services giant Credit Suisse tumbled this week in the wake of the collapse of three major US banks, and after Saudi National Bank said it could no longer continue to prop it up. Clients pulled over $10.8 billion out of the bank, pushing the government to intervene.