Briefly

SWITZERLAND

UBS completes Credit Suisse takeover

UBS said on Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country's two largest banks in a bid to safeguard Switzerland's reputation as a global financial center and choke off market turmoil. A statement from the bank said "UBS has completed the acquisition of Credit Suisse today, crossing an important milestone". UBS said last week it expected to complete the acquisition worth 3 billion Swiss francs ($3.3 billion) as early as Monday.

MONTENEGRO

Pro-EU party claims victory in snap vote

Montenegro's Europe Now Movement, or PES, won 25.6 percent of votes in a snap election on Sunday, the Center for Monitoring and Research, or CEMI, pollster said on the basis of a projection of results from a sample of polling stations. The PES, which has pro-European Union policies and also wants closer ties with neighboring Serbia, failed to secure enough votes to rule alone and it will have to seek partners in the 81-seat parliament to form the government. The pro-European Democratic Party of Socialists and a group of small allied parties came in second with 23.7 percent.

UNITED STATES

Soros cedes control of empire to son

Billionaire investor turned philanthropist George Soros is ceding control of his $25 billion empire to younger son Alexander Soros, according to an exclusive interview with The Wall Street Journal published online on Sunday. Soros' business holdings include his nonprofit Open Society Foundations, which is active in more than 120 countries around the world. The 37-year-old, who goes by the name Alex, said that he is "more political "than his 92-year-old father.

AUSTRALIA

Ten dead, 25 hurt in wedding bus crash

A bus carrying wedding guests rolled over on a foggy night in Australia's wine country, killing 10 people and injuring 25, police said on Monday. The 58-year-old driver was arrested and being held at a Cessnock police station and will be charged, Police Assistant Commissioner Tracy Chapman said. She would not detail the allegations, including whether speed was a factor. The crash happened just after 11:30 pm on Sunday in foggy conditions at a roundabout on Wine Country Drive in the town of Greta in the Hunter Valley region of New South Wales state.

Agencies Via Xinhua