The selloff in the banking sector spread across the globe on Friday after SVB Financial Group said it was forced to unload assets at a loss following a decline in deposits. HSBC (ticker: HSBA.UK), Eur...
Tag: Credit Suisse
Credit Suisse Stock Is Falling. Annual Report Is Delayed After Call From SEC.
Credit Suisse shares were falling on Thursday after the Swiss lender said it is delaying the publication of its annual report. The stock was down 5.3% in Zurich trading. Credit Suisse (ticker: CS) Ame...
‘Landmark Transactions’ To Come After Credit Suisse Deal, Taurus Exec Says
Crypto infrastructure provider Taurus is gearing up to open offices in Paris and Dubai — and boost its engineering team via incoming capital from two prominent banks. The plans come after Credit...
Credit Suisse Reportedly Assigns Zero Lending Value To Adani Group Bonds Following Hindenburg Allegations
Topline Credit Suisse has assigned zero lending value for bonds issued by Adani Group’s listed subsidiaries, Bloomberg reported on Wednesday, a move that will deepen concerns for the beleaguered India...
Stock Hits New Record Low After Banking Giant Warns Of ‘Substantial’ Losses
Topline Shares of Swiss banking giant Credit Suisse tumbled to a new record low Monday after the company warned last week it faces a billion-dollar profit shortfall this quarter—intensifying a weeks-l...
What Exactly Is Going On At The Global Investment Giant? Have They Hit Bottom Yet?
| Getty Images Key Takeaways Credit Suisse has experienced multiple major scandals since early 2021. These scandals have resulted in billions of dollars of losses for the bank and its investors, causi...
Is Credit Suisse Going Bust?
Swiss banking giant Credit Suisse is struggling to restructure in the wake of scandals and accusations which include money laundering for the Bulgarian Mafia. Their credit default swaps, which reflect...
Dow Surges 760 Points As Market Hopes For Positive Fourth Quarter
Topline The stock market rallied Monday and investors backed off their most dire recession fears as the typically auspicious fourth quarter kicked off trading, with the Dow Jones Industrial Average po...
No, Credit Suisse Won’t See A ‘Lehman-Style Explosion’—Here’s Why
Credit Suisse shares have plunged as credit risk continues to rise. Fabrice Coffrini/AFP via Getty Images Concerns about the financial health of Swiss banking giant Credit Suisse over the weekend have...
Credit Suisse Shares Tank As Capital Concerns Spark Reminders Of Lehman Brothers Failure: Here’s What We Know
Topline Shares of Credit Suisse plunged to an all-time low Monday as investors traded on concerns about the Swiss banking giant’s financial health and management’s ability to restructure the instituti...
What Industries Do Well In An L-Shaped Recession?
Getty Images Key takeaways Credit Suisse analyst Zoltan Pozsar sees the U.S. economy diving into an L-shaped recession before inflation eases An L-shaped recession occurs when the economy plunges and ...
Former Credit Suisse CEO’s $345 Million SPAC Loses Pimco Support
Credit Suisse chief executive officer Tidjane Thiam attends the annual shareholders meeting of the … [+] Swiss banking group in Zurich on April 28, 2017. / AFP PHOTO / Michael Buholzer (Photo cr...
Credit Suisse Froze Assets Worth $10.6 Billion in Q1 2022
Credit Suisse, which is the second-largest bank in Switzerland, said on Thursday that it froze CHF 10.4 billion of wealthy clients’ assets in the first quarter of 2022 under sanctions imposed in conne...
Credit Suisse Expects Q1 Loss amid Russia Exposure, Legal Costs
Credit Suisse issued a statement on Wednesday, revealing that it is expecting negative impacts on its first-quarter earnings due to the impact of its business in Russia and several litigation provisio...
Tim Tu, CEO of Credit Suisse Securities in China Has Stepped Down
Tim Tu, the Chief Executive Officer (CEO) of Credit Suisse’s securities joint venture in China has stepped down. Tu will seek other opportunities in Credit Suisse. Daniel Qiu is currently acting as th...
Credit Suisse Expects $500M Hit from a Bermuda Lawsuit
Credit Suisse is facing another setback as the Swiss bank announced on Wednesday that a potential court judgment against one of its subsidiaries would force it to pay a total sum in excess of $500 mil...
Credit Suisse Names Christian Gellerstad to Succeed Severin Schwan, as VC
Credit Suisse announced that it has named Christian Gellerstad as successor to Severin Schwan as Vice-Chairman. Shared in a recent press release with Finance Magnates, Christian Gellerstad, an executi...
Credit Suisse Aims to Almost Halve Emissions Financing to Fossil Fuels
Credit Suisse, which is the second-largest bank in Switzerland, has said on Thursday that it strives to have nearly halve emissions financing to fossil fuels by 2030. According to Reuters, Credit Suis...
Credit Suisse Has $914M Russian Exposure, Calls Its ‘Not Significant’
Credit Suisse, which is the second-largest bank in Switzerland, said that its net loan exposure to Russia at the end of 2021 was at CHF 848m ($914m). Additionally, the lender highlighted that its Russ...
Credit Suisse Makes Structural Changes to Its Asset Management Business
Credit Suisse announced that it has made structural changes to Its Asset Management Business in effect from 1 April 2022. In a recent press release shared with Finance Magnates, Colin Fitzgerald, who ...
Data Leak Shows Credit Suisse’s Criminal Clientele, Bank Denies Wrongdoings
Credit Suisse, which is trying to clean its image from various scandals, has found itself in the middle of another controversy. A massive data leak exposed that the Swiss private bank had taken deposi...
Credit Suisse to Face Class-Action Lawsuit in the US for FX Rigging
Credit Suisse is going to face a class-action lawsuit brought by investors in the United States for foreign exchange (forex) rigging as a New York court judge refused the bank’s appeal for the dismiss...
Credit Suisse to Defend $45M Penalty Order in Swiss Court
Swiss federal prosecutors are seeking around 42.4 million Swiss francs ($45 million) in penalties from Credit Suisse for its involvement in serious anti-money laundering breaches. The trial against th...
Credit Suisse Onboards Robery Huray as SE Asia Investment Banking Vice-Chairman
Credit Suisse announced that it has onboarded Robery Huray as its South East Asia Investment Banking Vice-Chairman, effective January 2022. Finance Magnates recently learned from a press release that ...
Credit Suisse Faces $9 Million Fine from US Regulator
The Financial Industry Regulatory Authority (FINRA) in the US has slapped a $9 million fine on Credit Suisse Securities, a unit of a Swiss banking giant, for multiple violations of regulatory laws and...