CNN Audio

5 PM ET: Supreme Court labor decision, student loan forgiveness, Mount Everest rescue & more
5 Things
Listen to
CNN 5 Things
Thu, Jun 1
New Episodes
How To Listen
On your computer On your mobile device Smart speakers
Explore CNN
US World Politics Business

First Move with Julia Chatterley

A daily global business program featuring the latest headlines and top newsmakers.

Back to episodes list

Featured interview: Ethos Foundation CEO Vincent Kaufmann
First Move with Julia Chatterley
Mar 20, 2023

It was another remarkable weekend in the global banking sector, as Switzerland's biggest bank, UBS, agreed to buy its ailing rival Credit Suisse in an emergency deal worth $3.2 billion. Credit Suisse shareholders will be largely wiped out, although shares will retain a fraction of their value. The same cannot be said of owners of $17 billion worth of additional tier one bonds -- they will lose everything. Joining the show to discuss is Vincent Kaufmann, the CEO of Ethos Foundation, a holder of more than 3% of Credit Suisse stock. Ethos is composed of 246 Swiss pensions and public utility foundations.