UBS to buy Credit Suisse for nearly $3.25 billion to calm turmoil

Banking giant UBS is buying troubled rival Credit Suisse for almost $3.25 billion, in a deal orchestrated by regulators in an effort to avoid further market-shaking turmoil in the global banking system. Swiss authorities pushed for UBS to take over its smaller rival after a plan for Credit Suisse to borrow up to 50 billion francs ($54 billion) failed to reassure investors and the bank’s customers. Shares of Credit Suisse and other banks plunged this week after the failure of two banks in the U.S. sparked concerns about other potentially shaky institutions in the global financial system.

tips

calm：风平浪静，平稳；vt. 使平静

rival：对手；a. 竞争的

orchestrate：精心安排的；编管弦乐曲（orchestration 协调的结合）

reassure：使...安心，向...再保证（assure 保证）

plunge：纵身跳下；暴跌；震荡；骤降

potentially：潜在的

shaky：不稳定的

spark：火花；发动；鼓舞（make something happen，especially something involving violence or angry feeling）

institution：机构（institute 机构，协会，研究所；创立）