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The Latest Breaking News from Credit Suisse

‘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

Financial turmoil will be felt for years, says JP Morgan boss

Jamie Dimon says downfalls of Silicon Valley Bank and Credit Suisse have undermined confidence

The Guardian - UK

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

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Saudi Arabia discloses investment in dozens of VCs

Saudi Arabia has invested in technology and other sectors in a bid to diversify the country’s economy away from oil.

Fortune

Credit Suisse chiefs say sorry to shocked shareholders

AFP

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

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Credit Suisse shareholders get last crack at annual meeting

Once-venerable Credit Suisse could be heading into a firestorm as shareholders meet for what is shaping up to be their last crack at managers

The Independent UK

Balancing act: Why central banks are cautious after bank crisis

Central banks are seen treading carefully following the sudden collapses of Silicon Valley Bank and Credit Suisse.

Al Jazeera

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

Delaying NatWest share sales doesn’t matter. Just get the best price

A formal date can concentrate minds, yet the priority must be the achievement of value for the public purse

The Guardian - UK

Sergio Ermotti: George Clooney of Swiss banking back as UBS boss

Zurich (AFP) - Sergio Ermotti, back as chief executive of UBS to oversee the mammoth takeover of Credit Suisse, has gone from local apprentice to the two-time boss of a top global bank.

AFP

Swiss prosecutors probe Credit Suisse ahead of UBS takeover

The Swiss attorney general’s office says it has opened a probe into the events surrounding embattled bank Credit Suisse, which is to be taken over by rival UBS

The Independent UK

Rebalance your portfolio

Investors have been keeping an eye on assets offering a decent return this year amid global market volatility and an economic slowdown.

Bangkok Post

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AFP

Swiss prosecutors say investigating UBS-Credit Suisse merger

Geneva (AFP) - Swiss federal prosecutors said Sunday that they had opened an inquiry into the UBS takeover of its embattled banking rival Credit Suisse, following pressure from federal authorities and media leaks.

The Guardian - UK

Switzerland’s attorney general to investigate Credit Suisse takeover

Inquiry to focus on whether emergency state-backed UBS takeover breached criminal law

Kiplinger

After the Recent Banking Crisis, What Can You Bank On?

Now would be a good time to take stock of how your nest egg may be exposed in a banking crisis. Here are five things you should know about.

The Independent UK

Credit Suisse takeover hits heart of Swiss banking, identity

Analysts say the UBS takeover of embattled rival Credit Suisse has shaken Switzerland’s self-image and dented its reputation as a global financial center

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The Week

Banking crisis: has the city weathered the financial storm?

It was perhaps inevitable that, after the shock collapse of Credit Suisse, attention would switch to another European bank with “a patchy record”, said Lex in the FT.

Evening Standard

Silicon slump? How worried should we be about another financial crisis?

The collapse of Silicon Valley Bank has raised the spectre of another financial crisis. As the contagion appears to be spreading, Samuel Fishwick investigates how spooked we should be feeling

Salon

Credit Suisse helped rich dodge taxes

"Republican budget cuts have decimated the IRS's ability to root out this kind of offshore tax evasion scheme"

Fortune

What bank CEOs should tell clients to reassure their money is safe

It’s up to bank CEOs to convince clients that their money is safe.

The Independent UK

Asia stocks mostly rise after Wall St rally, bank fears ease

Asian shares are mostly higher following a rally on Wall Street as worries over banks following the collapses of several lenders in recent weeks recede

Chicago Sun-Times

Credit Suisse violates deal on rich clients’ tax evasion

The Senate Finance Committee finds that troubled Credit Suisse failed to report secret accounts held by U.S. citizens trying to avoid paying taxes.

France 24

US accuses Credit Suisse of violating tax evasion deal

US lawmakers say the embattled bank Credit Suisse has violated the terms of a plea deal related to tax evasion. A two-year investigation suggests the lender has continued to conceal the bank accounts of wealthy Americans. Meanwhile, UBS has brought back former CEO Sergio Ermotti to lead its takeover of…

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