Why is the Credit Suisse story a big deal?

Switzerland's biggest bank, UBS, is buying Credit Suisse in an emergency rescue deal, but what makes it significant is that this story is a part of a larger narrative of financial market panic. 

Credit Suisse Group AG is a global investment bank and financial services firm founded in Zurich in 1856. UBS will pay more than $3 billion and assume up to $5.4 billion in losses. 

The slow demise of Credit Suisse culminating in the merger will not surprise many people. The FT - Clock ticks for Credit Suisse video provides useful background, contextualising it's downfall. 

All of this is reminiscent of Lehman's collapse and the Bank of America / Merrill Lynch merger in the financial crisis more than a decade ago. History repeats itself, despite changes in financial regulation and "lessons learned."

What does this mean for the man on the street? 

Share prices will continue to fluctuate. The economy is spiralling. Jobs are at risk. More businesses will fail. 

This is not a ripple. The collapse of Credit Suisse has vast implications, not to mention impacting the fragile foundation everything sits upon - confidence - which is crumbling. 

UBS' involvement stems the tsunami but the rain is coming and it will continue in a bleak and depressing way. 

What can individuals do?

Delay major investments. Cash flow is key in these difficult times. Try not to raid the rainy day funds and top up where possible. 

Those already struggling should seek help from charities, friends and family. Share your stories with news outlets & social media to put pressure on governments to help with electricity & rising costs, because they aren't doing enough. 

Recession

Whether we technically have a recession doesn't matter. Expect revisions to growth forecasts following this Credit Suisse saga. Times will be tough. Be kind and compassionate to others. Realise that this has physical and mental effects on everyone, no matter what their circumstances. 

Health and Happiness

In economic downturns, it can be hard to focus on health and happiness. It is probably more important than ever. 

The standard food and fitness advice prevails. It's easy to deprioritise and let stress overwhelm us. I highly recommend mindfulness and finding free activities that help you to relax.

Happiness can be found in simple things - a walk, a conversation with someone or listening to your favourite song. Incorporate these into your routine and do something everyday as being happy is a matter of practice, practice and practice. 

Wishing you beauty, health and happiness. 

C7. 

You may also be interested in:

• Did Ryan Reynolds investment in the UK help him snag £1bn deal?
  
• A 'sad and challenging' day: Credit Suisse chairman on 'historic' UBS takeover of his embattled bank
  
• The banking panic of 2023
  
• Credit Suisse’s $17B of risky bonds now worthless after takeover by UBS: ‘Those bonds were created for moments like this’
• My secret to eating more vegetables
  
• Exercise - It's all in the attitude
  
• What is the secret to happiness?
  

Did Ryan Reynolds investment in the UK help him snag £1bn deal?

 

Ryan Reynolds, Hollywood's new royalty, has landed a £1 billion deal. The actor has been a savvy business man and marketer, who recently met King Charles after investing in the UK. 

The British royal family, especially the new & future King (Prince William), adds a glamour and stamp to any brand. Tom Cruise got some great publicity when he was pictured with William and Kate on the red carpet.

The images with Charles and Camilla definitely gave Reynolds a massive boost. In these competitive times, these stand out moments create great PR and grows the social media presence of all involved. How many American actors get to say they've hung out with a real King, someone who will be in all the history books?

Reynolds is a positive role model, who keeps his image  he is a much loved celebrity. He is writing himself into history and creating an incredible legacy. 

That this also translates into buckets of money, well it seems the investment in the UK is a significant part of the narrative, one which many investors may start to take notice of, particularly when £1 billion is in the headline. 

Read more about the the £1 billion deal and CNN - King Charles visits Wrexham AFC, the soccer club owned by Ryan Reynolds and Rob McElhenney

Is the controversial tweet the death of the BBC & Gary Lineker?

To begin to understand what is going on with this contriversial tweet, we need to go back to basics and look at who is Gary Lineker and what is the BBC. 

Background - Gary Lineker

Gary Lineker is a name that needs no introduction for football fans around the world. Born on November 30th, 1960 in Leicester, England, he is one of the greatest English footballers of all time.

Club Football

In 1985, he made a move to Everton, where he won the Golden Boot in his first season, scoring 30 goals in 41 league games.

After two successful years at Everton, Lineker joined Barcelona in 1986, where he enjoyed a remarkable spell, scoring 42 goals in 103 appearances. He won the Copa del Rey and the European Cup Winners' Cup and was also named as the league's top scorer in the 1988-89 season.

In 1989, Lineker returned to England to join Tottenham Hotspur, where he spent the final years of his playing career. Despite being in his mid-thirties, he continued to be a prolific goalscorer, scoring 67 goals in 105 appearances for Spurs.

International Football

On the international stage, Lineker is best known for his performances for the England national team. He scored a total of 48 goals in 80 appearances for the Three Lions, and is currently England's third-highest goalscorer of all time. He was also a key player in the England team that reached the semi-finals of the 1990 World Cup, where he won the Golden Boot for being the tournament's top scorer.

Media Career

After retiring from football, Lineker went on to have a successful career as a broadcaster and pundit. He has been a regular presenter on the BBC's flagship football show, Match of the Day, since 1999, and is known for his insightful analysis and witty commentary. He has also worked for several other broadcasters, including ITV and BT Sport.

The Beebs (aka BBC)

The British Broadcasting Corporation, commonly known as the BBC, is a public service broadcaster based in the United Kingdom.

Established in 1922, it is the world's oldest national broadcaster and one of the largest media organizations globally, with over 22,000 employees. 

The BBC operates a range of services, including television, radio, and online content, catering to a diverse audience both in the UK and internationally. The corporation's mission is to inform, educate and entertain, and it is renowned for its impartiality and high-quality journalism. In addition to producing its own programming, the BBC also provides news and current affairs content to other broadcasters worldwide through its BBC World Service. The BBC is a significant cultural institution in the UK, and its programming has had a significant impact on the country's social and political landscape.

The Controversy 

Lineker was suspended by the BBC following controversy surrounding a tweet he wrote criticizing the UK government's new asylum-seeker policy.

The latest news is that the BBC 'climbdown' over the Lineker row has Tory MPs not happy with the U-turn. 

Is this the death of the BBC & Lineker?

Politicians are playing a dangerous game. They are coming after two cherished institutions of Great Britain - football and the BBC. 

Both football and the BBC represent two key economic and culturally significant pillars to the UK. They are soft power that generates billions of pounds. 

Whether this is individuals or groups seeking to undermine the western world or individuals who aren't too clued up, we may never know.

Should it transpire that both the BBC & Lineker come to an end, and I don't mean actual physical death, but the disassembling of the BBC by removing the licensing fee, it does cut the UK down at the knees. 

Also, Lineker's success and continued glory is intertwined with the BBC's. 

The bigger picture is that there is noise by politicians, much more media murmurings about scraping the license fee and a growing dislike of the current government who continue to be perceived as out of touch with the people. 

The trajectory seems to be the BBC & Lineker's time is running out. 

Other media outlets may have an interest in seeing the BBC brought down, but ultimately it will affect advertising revenue to have a diminished Great Britain. 

At the end of the day, making money is what matters and when strategists realise this, perhaps when it's too late, then they will be poorer. They already have their bottom lines eroded from socia media, so it's more downhill for them. 

All this makes a hot mess which shows Great Britain as less great and more broken. 

The controversial tweet may soon be old news, but will this be the pivotal moment when we look back, that led to the BBC & Lineker's death?

The King's Coronation - the biggest party of 2023

I'm not a fan of how much is being spent on the King's Coronation, but this will be the event of 2023. Royalty from around the world will be invited and it will be in the history books. 

Republicans and anti-royalists around the world may be getting traction, but monarchy has an enduring attraction to the public which no other individual or business has been able to emulate. 

Little girls still play princess. Little boys put on crowns. When you meet a member of the royal family, it's a big deal. 

Those who snub the coronation may start to alienate some fans. Those celebrities who poke their head out and take sides on political issues lose their star quality and seem more ordinary. 

The foolish dismiss opportunities. Events brings people together, to network and add something to their cv. It's another experience. We can tell our children we were there. 

Brand Britain has suffered some damage in recent years. But, and this is a big but, it is still a huge draw for people all around the world. Everyone knows of the British Royal Family. It is why when there is a story or scandal, media outlets go crazy. It sells and makes bucket loads of money. I don't see those who benefit from the royal family's existence being supportive or happy with those who support or wish to take away their golden goose. 

So don't expect the royal family to disappear or the monarchy to fall. 

Does this aspect bother me? No. 

Britain and the world will stop for the coronation. I'm looking forward to a bit of pomp and distraction from the dire news that constantly bombards us. 

Plus my beloved London will be a massive party. It will be the place to be. This is why I love this city.