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The Latest Breaking News from Credit Suisse

Credit Suisse Collapse Probe Slams Banking Regulator

Switzerland's financial regulator was ineffective in tackling the scandals at Credit Suisse, where executive mismanagement scuppered the bank and nearly triggered a global financial crisis, a Swiss inquiry concluded Friday.

International Business Times

Democrats’ failure to punish CEOs for 2008 crash contributed to Trump’s rise, says top Obama aide

Rahm Emanuel criticized the Democrats for being ‘blind to the rising sea of disillusionment’ that has been simmering for years in America

The Independent UK

UBS Smashes Forecasts With $1.4 Bn Net Profit

Swiss banking giant UBS said Wednesday it earned a net profit of $1.4 billion in the third quarter, beating analyst expectations.

International Business Times

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UBS Stock Surges Toward Buy Point After Earnings

UBS stock surged Wednesday after the Swiss bank beat Q2 estimates. UBS is on track to hit its cost savings goal after Credit Suisse deal.

Investors Business Daily

Big UK banks need to do more to be ready for potential failure, says Bank of England

BoE warns lenders including Barclays and Standard Chartered in effort to prevent social media-driven runs

The Guardian - UK

Bank of England seeks action from Britain's biggest banks on crisis plans

Threadneedle Street eyes lessons to be learned after SVB and Credit Suisse demise

Evening Standard

UK Finance Worker Steals £75,000 From Dead Clients To Fund Gambling Addiction And Lavish Lifestyle

Casagrande wasn't charged with the financial fraud until after he'd been sent to prison and subsequently released for the drug charges.

International Business Times UK

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Former Mozambique finance minister on trial in US over 'tuna bond' scandal that spurred debt crisis

The “tuna bond” scandal that shook Mozambique’s economy is washing into a U.S. court

The Independent UK

Archegos speculator Bill Hwang could spend the rest of his life behind bars after his disastrous bets ushered in the demise of Credit Suisse

Federal jury finds Hwang lied to lenders over the size and scope of his bets on stocks like ViacomCBS in order to juice returns, causing $10 billion in combined losses.

Fortune

Archegos Founder Bill Hwang Guilty In Multibillion-dollar Fraud Case

The founder of US investment firm Archegos, Bill Hwang, was found guilty Wednesday of fraud and market manipulation in a case focused on the fund's 2021 implosion that cost major banks billions of dollars.

International Business Times

Bathroom breaks were banned by Archegos boss accused of fraud, who allegedly 'yelled' at staff for stepping away while key stocks were moving

The trial of Sung Kook “Bill” Hwang, boss at Archegos Capital Management, heard former staffer William Tomita claim Hwang banned bathroom breaks during key trades.

Fortune

UBS Net Profit Up 71% After Two Quarters In The Red

Swiss banking giant UBS on Tuesday said first quarter net profit rose 71 percent to nearly $1.8 billion after two quarters in the red due to the takeover of Credit Suisse.

International Business Times

Ulrich Korner To Depart UBS For Credit Suisse

Ulrich Korner's move from Credit Suisse to UBS signifies a significant shift in banking sector leadership, with implications for both institutions and the ...

Top News

Speeding cyclist avoids conviction after crash that killed pensioner, 81, in Regent's Park

Credit Suisse banker reached speeds beyond 20mph limit

Evening Standard

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Top News

UBS Sued By Appaloosa Over Credit Suisse Bond Losses

UBS faces a lawsuit over a billion bond wipeout involving Credit Suisse, raising concerns in the financial sector.

Top News

UBS To Implement Layoffs In Credit Suisse Integration Process

UBS plans further layoffs as part of Credit Suisse integration to enhance efficiency and competitiveness in the banking sector.

Latin Times

IMF Urges Tighter Swiss Regulation After UBS Takeover Of Credit Suisse

Switzerland's biggest bank was strongarmed by the government into buying Credit Suisse last year over fears that the second largest lender in the country might go under and spark a global financial crisis.

International Business Times

UBS CEO Sergio Ermotti: Overpaid Or Worth Every Franc?

UBS CEO's compensation of 14.4 million Swiss francs in 2023 has ignited discussion, showcasing the contrast between European and American banking pay standards.

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International Business Times

IMF Urges Tighter Swiss Regulation After UBS Takeover Of Credit Suisse

The IMF urged Switzerland on Thursday to strengthen its financial sector regulation as supervising UBS has become "more challenging" since it grew into a global banking behemoth after its takeover of Credit Suisse.

Top News

UBS Reviewing Credit Suisse's Books For Potential Misstatements

UBS Group is conducting a thorough review of Credit Suisse's financial records to assess potential misstatements, emphasizing integrity and transparency in...

Investors Business Daily

Best Mutual Funds Awards 2024: Best U.S. Taxable Bond Funds

Looking at mutual funds to invest in? We list all the U.S. taxable bond funds that beat their benchmark over both the short and long haul.

Top News

European Banks' Recovery One Year After Credit Suisse Collapse

European banks face challenges post-Credit Suisse collapse, working towards stability and trust rebuilding.

Top News

Credit Suisse and KPMG Prevail in US Lawsuit over Bank's Demise

Credit Suisse officials and KPMG have emerged victorious in a US lawsuit relating to the bank's demise, avoiding potential legal repercussions.

Evening Standard

UBS aims for higher cost cuts increasing City job fears at Credit Suisse

UBS dramatically increased the cost cuts it expects to make from merging with Credit Suisse today, increasing fears that City job losses will be even worse than first planned.

International Business Times

UBS To Reward Shareholders As Credit Suisse-linked Losses Narrow

Swiss banking giant UBS said Tuesday it would hand shareholders up to $1 billion in share buybacks as it posted a smaller-than-expected quarterly loss stemming from the costs of absorbing fallen rival Credit Suisse.

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