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UBS Nears Deal to Take Over Credit Suisse

The deal could come together Sunday, the people said. Regulators have offered to waive a requirement for customary shareholder votes to expedite the sale, one of the people said. Credit Suisse took a more-than-$50 billion Swiss National Bank liquidity lifeline this week after concerns deepened about its prospects. The action didn’t do enough to stop the slide in Credit Suisse’s shares or stem the loss of bank deposits, compelling the central bank and Switzerland’s top financial regulator to orchestrate talks with Credit…

Bank of England Raises Rates by 0.5 Point, Slowing Pace of Tightening

The Bank of England raised interest rates by 0.5 percentage point to 3.5%, following the Federal Reserve in slowing the pace of increases as inflation edges lower. The BOE’s decision follows a similar move by the Swiss National Bank on a busy day for Europe’s most influential central banks. Investors expect the European Central Bank to announce a 0.5-point rate increase later Thursday. Both the BOE and the ECB have been battling all year with inflation that has spiraled to multidecade highs, partly…