How the Credit Suisse rescue deal creates a headache

London is braced for job losses with the Swiss institution’s investment banking unit expected to be wound down, says James Moore

Jobs at Credit Suisse’s UK office could be at risk after the sale of the Swiss bank to rival UBS (PA)

The Credit Suisse fire was supposed to have been put over the weekend, courtesy of a hastily arranged rescue by rival UBS.

UBS is paying £2.5bn, with a big assist from the Swiss authorities in the form of liquidity in case the waters get choppy again.

Perennially crisis-racked Credit Suisse is too big to fail and money was heading for the exits at a rate that put the frighteners on regulators and just about everyone else.