The boss of Credit Suisse has said he is ‘truly sorry’ about the collapse of the 167-year-old firm Credit Suisse Chairman Axel Lehmann apologized to shareholders on Tuesday for failing to contain the crisis which led to the lender’s downfall. The ailing Swiss banking giant was taken over by rival UBS last month.

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Unlike Western countries, Moscow and Beijing have not aligned themselves against anyone, the Russian president has said Relations between Russia and China have reached an all-time high and are successfully developing in many areas, President Vladimir Putin has said, stressing that the partnership does not seek to undermine other countries.