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Former Societete Generale CEO says crisis not a bad deal
... cross-border banking mergers were not for today or tomorrow, and that while SocGen could end up with one or two transactions, any such deal would not be systemic. The European banking sector recently came under stress due to a slump in the shares of Credit Suisse and a drop in the value of the British pound due to concerns over the UK government's economic policies. On Monday, the shares of Credit Suisse dropped by 11.5% and its bonds hit record lows before clawing back some of the losses because of concerns ...
Updated: 10/04/2022
Credit Suisse’s losses widen, with losses widening
Switzerland's second-largest bank, Credit Suisse, has been in the news due to its falling share price, shaky financials and repeated management revamp. Switzerland's second-largest bank, Credit Suisse , has been in the news due to its falling share price, shaky financials and repeated management ...
Updated: 10/04/2022
Asian markets up on hopes of US Fed lifting
... weaker economy sent US treasury yields tumbling. As financial stability risks are growing, investors are beginning to doubt whether central banks will stay aggressive in fighting inflation, analysts said. The first time we had a gilt market crash, now Credit Suisse is struggling with capital concerns, said Edward Moya , Senior Market Analyst at The Americas OANDA. The BSE market capitalization increased investor wealth by 4.6 lakh crore to Rs 272.85 lakh crore from Rs 268.26 lakh crore at home, as suggested ...
Updated: 10/04/2022
Asian markets rally as UK scraps tax plan
... yield dropped 15 basis points and the Treasuries rallied in sympathy with gilts overnight. It was in Asia at 3.6387%, having briefly poked above 4% last week. Other indicators of market stress are abound. The CBOE Volatility Index remains above 30. Credit Suisse 's bonds hit record lows on Monday because of concerns over the bank's restructuring plans. On news of possible production cuts, oil LCOc 1 held overnight gains, and Brent futures were last up 43 cents to $89.29 a barrel.
Updated: 10/04/2022
Asian markets rally as UK scraps tax plan
... the AUD Treasuries rallied in sympathy with gilts overnight. In Asia, it was steady at 3.6387%, having briefly risen above 4% last week. Other indicators of market stress are abound. The CBOE Volatility Index remains above 30. The shares and bonds of Credit Suisse hit record lows on Monday as investors worried about the bank's restructuring plans swept markets. Oil held overnight gains on the news of possible production cuts, and Brent futures were last up 43 cents to $89.29 a barrel.
Updated: 10/04/2022
Complete Solaria to merge with Bloomberg blank check company
... Reduction Act, a landmark climate bill that Joe Biden recently signed. There are tax credits for installations as well as for manufacturers as part of the country's effort to revive domestic panel-making, a sector long dominated by China. The former Credit Suisse Group AG chief Thiam is executive chairman of the SPAC , which he set up last year. The chief executive is Adam Gishen , who was Credit Suisse 's head of investor relations and communications during Thiam 's tenure. Thiam said in June that ...
Updated: 10/03/2022
Credit Suisse tries to calm fears about its health
According to people familiar with the matter, the Credit Suisse Group AG tried to assuade fears about its health in a memo to employees and clients over the weekend. According to people familiar with the matter, the Credit Suisse Group AG tried to assuade fears about its health in a memo to employees and ...
Updated: 10/03/2022
Citigroup analyst says Credit Suisse risks are overblown
Keith Horowitz, Citigroup Inc. analyst, says jitters about the systemic risks posed by Swiss banking giant Credit Suisse seem to be overblown. Keith Horowitz , Citigroup Inc. analyst, says jitters about the systemic risks posed by Swiss banking giant Credit Suisse seem to be overblown. In a flash research note from late Sunday, Horowitz said that they did not ...
Updated: 10/03/2022
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