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The Latest Breaking News from Credit Suisse

Australian share market plunges again, hitting four-month low

The Australian share market has plunged to its lowest level since November after banking contagion spread to Europe.

The New Daily

What the papers say – March 16

Chancellor Jeremy Hunt’s Budget receives a mixed response on Thursday’s front pages.

The Independent UK

US bank stocks sink as Credit Suisse fear spurs renewed rout

Stocks of major U.S. lenders sank with a sector gauge hitting the lowest level since November 2020 on Wednesday, following European banks down after Credit Suisse Group AG plunged.

Tribune News Service

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Credit Suisse shares plunge amid banking jitters

Shares of Credit Suisse have plunged to a record low, after its top shareholder declined to increase its stake. The slide has added to market jitters over the state of Europe's banking sector, although it's not directly related to the recent collapse of two American lenders. Also in the show:…

France 24

FTSE 100 hit by worst day since Covid as Credit Suisse raises fears of fresh banking crisis

‘If the bank fails, this could have major implications for other European banks’

The Independent UK

Credit Suisse to borrow up to $54bn amid banking crisis fears

Announcement comes after Zurich-based bank’s shares lost more than one-quarter of their value in a day.

Al Jazeera

‘Dr. Doom’ Nouriel Roubini warns that ‘contagion’ from U.S. banks could spread globally

“A banking crisis can morph into a debt crisis for the sovereign, in a doom loop between the banks,” Roubini told Fortune in November.

Fortune

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Credit Suisse has shot itself in the foot – and wounded the global banking system

The Swiss lender is deemed ‘systemically important’ so the jittery markets are studying the bank carefully – very carefully

The Guardian - UK

Fed gets more room to pause rate hikes after drops in producer prices, retail sales

U.S. producer prices and retail sales both declined in February, giving Federal Reserve officials more room to potentially pause interest-rate hikes as they weigh the impact of a banking crisis against inflation risks.

Tribune News Service

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

Credit Suisse: what is happening at Swiss bank and should we be worried?

Plunge in bank’s share price adds to fears over weaknesses in banking sector following collapse of SVB

The Guardian - UK

SVB collapse may be start of ‘slow-rolling crisis’, warns BlackRock boss

Larry Fink tells investors more ‘shutdowns and seizures’ in US possible and predicts inflation and interest rates to rise

The Guardian - UK

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.

Bangkok Post

Stocks drop as fears grow about the global banking system

A drop in shares of European lender Credit Suisse sparked fears that banking turmoil is spreading around the world.

WEKU

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Zenger

Robert Kiyosaki Is Predicting The Next Bank Seeing The Same Fate As It Happened To Lehman Brothers

Investor and entrepreneur Robert Kiyosaki made a new prediction for the banking sector that could possibly hit as this year

The Independent UK

Credit Suisse shares sink as key investor vows no more help

Battered shares of Credit Suisse lost more than one-quarter of their value Wednesday, hitting a record low after its biggest shareholder — the Saudi National Bank — told outlets that it would not inject more money into the ailing Swiss bank

The Guardian - UK

More than £75bn wiped off FTSE 100 amid Credit Suisse crisis

Swiss bank’s shares fall to record low as top shareholder Saudi National Bank rules out more funding

Evening Standard

Fears over banking sector grow as Credit Suisse shares plunge

Shares in the Swiss bank were halted from trading, as were Société Générale, Monte dei Paschi and UniCredit

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The Times of India

Neelkanth Mishra quits Credit Suisse, set to join Axis Bank

MUMBAI: Neelkanth Mishra, co-head of Asia Pacific strategy at Credit Suisse Group AG, has resigned from the company and is set to join Mumbai-based Axis Bank Ltd, according to people familiar with the matter.

The Independent UK

Wall Street expert predicts next major bank to fold

A Wall Street expert has revealed which bank he believes will fail next, following the collapse of Silicon Valley Bank

The Guardian - UK

Credit Suisse warns of ‘material weaknesses’ in financial reporting

Swiss bank’s shares fall as annual report reveals another blow to its bid to recover from string of scandals

The Times of India

Credit Suisse chairman Axel Lehmann takes pay cut, waives $1.6 million award

Credit Suisse Group AG Chairman Axel Lehmann is forgoing a payment of 1.5 million Swiss francs ($1.6 million) for his first full year on the job, as the bank reported its worst annual performance since the 2008 financial crisis.

Tribune News Service

Texas’ next ESG target will be insurers: ‘We’re gonna teach them some manners’

Texas’ fight against environmental, social and corporate governance policies may soon expand to another front: insurance companies.

Fortune

Future of Credit Suisse in question after bank loses its most loyal investor

Harris Associates' David Herro owned as much as a tenth of the company as recently as last year—now the money manager revealed he has sold it all, citing concerns over its health.

The Independent UK

Swiss regulator: Credit Suisse made 'serious breach' of law

Swiss regulators have found that Credit Suisse made a “serious breach” of law in connection with a now-bankrupt firm linked to Australian financier Lex Greensill

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