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World Business Report: First broadcast 16/03/2023 15:32 GMT : Credit Suisse gets $54 billion lifeline

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Credit Suisse gets $54 billion lifeline

First broadcast 16/03/2023 15:32 GMT 

First broadcast 16/03/2023 15:32 GMT : Credit Suisse gets $54 billion lifeline

BBC World Service - World Business Report, Credit Suisse gets $54 billion lifeline

Credit Suisse has accepted a $54bn bailout fund from the nation's central bank.

Credit Suisse accepted a $54 billion bailout fund from Switzerland’s Central Bank, after its share price plunged up to 30% on Wednesday. The nation’s second largest bank’s stock price rebounded on Thursday but with issues surrounding the bank for years, investors are asking if the bailout money will save it from more trouble.

Despite the bank crisis in Europe, The European Central Bank has decided to raise Eurozone interests rate by 0.5 percentage points. Meanwhile in the UK, Tik Tok has been banned in all government devices – following similar moves in the EU and elsewhere.

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First broadcast 16/03/2023 15:32 GMT : Credit Suisse gets $54 billion lifeline

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