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The Latest Breaking News from Credit Suisse

Credit Suisse posts biggest loss since 2008

GENEVA: Credit Suisse on Thursday posted its biggest annual loss since the 2008 financial crisis and the scandal-plagued Swiss banking giant expects to fall deeper into the red in 2023, sending its shares tumbling.

Bangkok Post

Credit Suisse posts $1.4B pre-tax loss as woes go on in 4Q

Credit Suisse has reported a pre-tax loss of more than 1.3 billion Swiss francs, or about $1.4 billion, in the fourth quarter of last year

The Independent UK

Credit Suisse axes top bosses’ bonuses after biggest loss since financial crisis

Swiss bank is cutting 9,000 jobs in restructuring programme after series of scandals

The Guardian - UK

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Cognizant's Meera Krishnamurthy to lead financial services business

BENGALURU: Cognizant has elevated insurance head Meera Krishnamurthy to lead the banking and financial services sector, which analysts believe is a precursor to other leadership changes at the Nasdaq-listed company.

The Times of India

Indian regulator looking into $86 billion Adani share wipeout

India's market regulator is examining a rout in the shares of billionaire Gautam Adani's companies, a source with direct knowledge told Reuters, as the losses triggered by a scathing U.S. short-seller report ballooned on Wednesday to $86 billion.

Reuters

Tennis great Roger Federer strips down for ‘vulnerable’ art project

Roger Federer may be one of the greatest tennis players of all time – but that doesn't mean he's recognised wherever he goes.

The New Daily

LVMH Names New Louis Vuitton CEO, Puts Arnault Daughter in Charge of Dior

LVMH Chairman and CEO Bernard Arnault has reshuffled top management at his luxury goods empire, tightening his family's grip with the appointment of his daughter Delphine to lead Christian Dior, and naming a new boss for Louis Vuitton. Pietro Beccari, who has been the head of Dior since 2018, is…

Asharq Al-Awsat

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Credit Suisse looks to speed up cuts as revenue outlook worsens

ZURICH: Credit Suisse is accelerating cost cuts announced just weeks ago, Chairman Axel Lehmann said on Friday, as client outflows and a slowdown in activity weigh on the Swiss bank's revenue outlook.

The Times of India

ASX rises after gains on Wall Street as US Federal Reserve minutes suggest slower rate hikes ahead

Australian shares rise after Wall Street climbs on hopes of a slower rate rise in the US, with European stocks closing at three-months highs.

ABC News

Credit Suisse expects Q4 pre tax loss of up to $1.58 billion

ZURICH: ZURICH: Credit Suisse expects to make a pre tax loss of up to 1.5 billion Swiss francs ($1.58 billion) during its fourth quarter, the embattled Swiss bank said, as it prepares to ask shareholders permission for a $4 billion equity hike.

The Times of India

Liberty Steel Group says it is nearing deal with Credit Suisse and Greensill

Sanjeev Gupta-owned firm stands to win reprieve from creditors’ insolvency proceedings

The Guardian - UK

Check Out What Whales Are Doing With MELI

Someone with a lot of money to spend has taken a bullish stance on MercadoLibre (NASDAQ:MELI). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Benzinga

Major banks support rainforest oil project despite problems

Financing fossil fuels, which are the primary cause of climate change, has become controversial in recent years, with major banks under fire for the scale of their lending for oil and gas development

The Independent UK

Labour MPs press Keir Starmer to set out ‘wealth tax’ plans

Leader under pressure to commit to higher taxes for super-rich as Tory government prepares spending cuts

The Guardian - UK

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Benzinga

Downsizing At Twitter After Musk Takeover, Big Pharma Chains To Pay $14B In Opioid Claims, Tesla Shutters 1st Showroom In China: Top Stories Wednesday, Nov. 02

Reuters

The Times of India

Credit Suisse cut to one level above junk status by S&P

Credit Suisse Group AG’s long-term rating was downgraded by SP Global Ratings to just one level above junk status, underscoring the bank’s challenges after it laid out a radical restructuring plan last week.

Benzinga

Check Out What Whales Are Doing With AAPL

A whale with a lot of money to spend has taken a noticeably bearish stance on Apple. Looking at options history for Apple (NASDAQ:AAPL) we detected 33 strange trades.

Benzinga

Tesla Explored Minority Stake In Glencore, TuSimple Fires Its CEO Amid Regulatory Scrutiny, Twitter Could Reportedly Lose A Fourth Of Its Employees After Takeover: Top Stories Monday, Oct. 31

Washington Post

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Benzinga

Amazon To $160? These Analysts Cut Price Targets On Amazon After Q3 Results

Amazon.com, Inc. (NASDAQ: AMZN) reported upbeat earnings for its third quarter, while sales missed estimates. The company also issued weak sales forecast for the fourth quarter.

ABC News

Miners weigh on ASX, US tech giants hit by inflation woes, and ECB raises rates

The ASX ended lower as big miners were sold off; shares in Facebook owner Meta Platforms and Amazon plunge as inflation hits earnings, and the European Central Bank raises interest rates again.

Benzinga

Benzinga's Top Ratings Upgrades, Downgrades For October 27, 2022

Upgrades

Benzinga

Meta Platforms To $200? These Analysts Slash Price Targets On Meta Following Q3 Results

Meta Platforms, Inc. (NASDAQ: META) reported worse-than-expected Q3 EPS and issued Q4 revenue guidance with a midpoint below estimates. The company also guided FY23 expenses of $96 billion to $101 billion. Meta Platforms shares dropped 22.1% to $101.20 on Thursday.

Benzinga

Elon Musk & Philippine Billionaire Come Together For Satellite Internet Service In Southeast Asia, Disney May Track Your Theme Park Preferences, Struggling Credit Suisse Reveals Business Overhaul: Top Stories Thursday, Oct. 27

Benzinga

The Guardian - UK

Credit Suisse to cut 9,000 jobs and seek billions in new investment

Shake-up aims to draw line under series of scandals and new £3.5bn loss at Swiss bank

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…

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