*UBS SEEKS $6B IN SWISS GOVERNMENT GUARANTEES AS WEEKEND TALKS ENTER CRUNCH TIME FOR CREDIT SUISSE TAKEOVER $UBS $CS 🇨🇭🇨🇭
-UBS AG is asking the Swiss government to cover about $6 billion in costs if it were to buy Credit Suisse, a person with knowledge of the talks said, as the two sides raced to hammer together a deal to restore confidence in the ailing Swiss bank.
One of the sources cautioned that the talks to resolve the crisis of confidence in Credit Suisse are encountering significant obstacles, and 10,000 jobs may have to be cut if the two banks combine. The White House and U.S. Treasury declined to comment. Bloomberg News reported earlier that Buffett had been in touch with the administration in recent days about the regional banking crisis, Bloomberg News reported on Saturday. The source declined to elaborate on the details of the discussions.
U.S. authorities are involved, working with their Swiss counterparts to help broker a deal, Bloomberg News reported, also citing those familiar with the matter.
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