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The Latest Breaking News from Axel Lehmann

‘I am truly sorry’: Credit Suisse chairman grovels with police security at his side as he apologizes for wiping out billions in shareholder value

“I apologize that we were no longer able to stem the loss of trust that had accumulated over the years, and for disappointing you,” Axel Lehmann said at the bank’s final shareholder meeting.

Fortune

Credit Suisse chiefs say sorry to angry shareholders

Zurich (AFP) - Credit Suisse chairman Axel Lehmann said Tuesday he was "truly sorry" that the beleaguered bank could not be saved as he faced angry and tearful shareholders whose money has gone up in smoke.

AFP

Credit Suisse chiefs say sorry to shocked shareholders

AFP

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Stocks Higher, Walmart Job Cuts, Credit Suisse Apology, Virgin Orbit Bankruptcy, Donald Trump Arraignment - Five Things To Know

Stock futures edge higher as recession worries clip treasury yields; Walmart planning 2,000 e-commerce job cuts as demand wanes; Credit Suisse chairman 'truly sorry' for bank collapse as shareholders vent ire; Virgin orbit files for bankruptcy after January launch failure and Former President Donald Trump faces historic arraignment in Manhattan…

The Street

Furious Credit Suisse investors say bank’s board should be ‘put behind bars’

Shareholders lash out during final AGM as boss apologises for crisis that led to takeover of lender by UBS

The Guardian - UK

Credit Suisse chiefs face the music at AGM

Zurich (AFP) - Credit Suisse shareholders will get their first chance to voice their frustrations at the beleaguered bank's takeover by UBS, at its annual general meeting in a Zurich concert venue Tuesday.

AFP

The Last Hours of Credit Suisse (as They Might Have Gone)

Here's an imaginary depiction of the talks that sealed the fate of Credit Suisse, a 167-year-old European bank.

The Street

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UBS announces Credit Suisse buyout to calm markets, but Asian equities sink

Bern (Switzerland) (AFP) - UBS is set to take over its troubled Swiss rival Credit Suisse for $3.25 billion following weekend crunch talks aimed at preventing a wider international banking crisis, but Asian equities sank Monday on lingering worries about the sector.

AFP

UBS to buy Credit Suisse for nearly $3.25B to calm turmoil

Swiss President Alain Berset said banking giant UBS is acquiring its smaller rival Credit Suisse for almost $3.25 billion in an effort to avoid further market-shaking turmoil in global banking

The Independent UK

UBS takes over Credit Suisse in move to calm the markets

Bern (Switzerland) (AFP) - UBS is set to take over its troubled Swiss rival Credit Suisse for $3.25 billion following weekend crunch talks aimed at stopping the stricken bank from triggering a wider international banking crisis.

AFP

UBS to buy Credit Suisse for nearly $3.25 billion to calm turmoil in banking industry

Credit Suisse’s buyout by UBS was arranged by banking regulators worried that Credit Suisse’s failure could have repercussions similar to the collapse of Lehman Brothers.

Chicago Sun-Times

UBS in $3.25bn takeover of Credit Suisse

Bern (Switzerland) (AFP) - UBS will take over its troubled Swiss rival Credit Suisse for $3.25 billion following crunch talks Sunday aimed at stopping the stricken bank from triggering a wider international banking crisis.

AFP

Why a TV interview led to a day of chaos for Credit Suisse

Credit Suisse has struggled with scandals, a string of CEOs, and customer outflows.

Fortune

Will Credit Suisse be the next banking domino to fall?

After Silicon Valley Bank’s collapse, could one of Europe’s biggest (and most embattled) banks spark an even bigger crisis?

Fortune

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Bangkok Post

Credit Suisse woes rock Wall Street

Wall Street was back in selloff mode early Wednesday as banking shares faced a fresh hammering amid worries that more lenders could fail.

The Street

Embattled Credit Suisse Loses a Top Shareholder

Harris Associates, shareholder of the bank for more than twenty years, sold its entire stake according to the Financial Times.

The Street

Credit Suisse Collapses on the Stock Market

The chairman of the Board of Directors of the second largest Swiss bank is under investigation by the Swiss authorities.

The Street

Embattled Credit Suisse Sends Strong Message to Speculators

The firm recently unveiled a vast restructuring plan including the elimination of 9,000 jobs by 2025.

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Asharq Al-Awsat

Credit Suisse Launches Radical Overhaul to Stabilize Bank

Credit Suisse announced a radical series of measures Thursday aimed at turning around the beleaguered bank following huge third quarter losses, including revamping its investment banking unit, 9,000 job layoffs and raising fresh capital. Switzerland's second-biggest bank launched a strategic review aimed at putting an end to a series of…

AFP

Credit Suisse launches radical overhaul to stabilise bank

Zurich (AFP) - Credit Suisse unveiled radical measures Thursday aimed at turning around the beleaguered bank following huge third quarter losses, including revamping its investment banking, slashing 9,000 jobs and a capital injection from the Saudi National Bank.

Al Jazeera

Credit Suisse looks to Mideast for capital boost

Abu Dhabi and Saudi Arabia are weighing whether to put money into its investment bank and other businesses.

AFP

Koerner seeking to put Credit Suisse on a straight path

Zurich (AFP) - Ulrich Koerner took over as Credit Suisse's chief executive on Monday with the mammoth task of revitalising Switzerland's second-biggest bank following a series of scandals.

The Guardian - UK

Credit Suisse chief executive resigns after turbulent two years

Thomas Gottstein steps down in latest high-level departure and will be replaced by Ulrich Körner

The Guardian - UK

Credit Suisse leak raises painful questions for the bank

Analysis: Bosses will have to prove their aversion to dubious wealthy clients if they are to regain trust of markets and regulators

Evening Standard

Credit Suisse turns to a Swiss candidate to repair its reputation from latest mishap

Credit Suisse turned to a Swiss candidate for the second time in two years for a top role at the bank as it struggles to repair its reputation after a series of trading and personnel scandals, writes Bloomberg.

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