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The Latest Breaking News from Credit Suisse

Xtep Revenue Leaps to Record on China's New Long Run to Sports

Key Takeaways: Xtep’s revenue grew 23% last year to a record 10 billion yuan, though its newer brands lost money The company is less profitable than industry leaders Anta and Li Ning, leading its shares to trade at a discount By Lau Ming

Benzinga

Benzinga's Top Ratings Upgrades, Downgrades For March 23, 2022

Upgrades For E2open Parent Holdings Inc (NYSE:ETWO), Colliers Securities upgraded the previous rating of Neutral to Buy. At the moment, the stock has a 52-week-high of $14.58 and a 52-week-low of $7.66. E2open Parent Holdings closed at $9.37 at the end of the last trading period.

Benzinga

Oligarch linked to billions in 27 Swiss bank accounts in sister’s name

Leaked documents raise questions over financial relations between relatives of billionaire ex-Arsenal shareholder Alisher Usmanov

The Guardian - UK

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TransUnion Partners With UMortgage, Funnel Leasing On Financial Tools

Mortgage company UMortgage has partnered with TransUnion (NYSE:TRU) and FinLocker to provide consumers with the USafe app making financial literacy and personal financial management more accessible. USafe financial fitness app, powered by FinLocker, helps consumers build, monitor, and improve their finances to achieve long-term goals. Separately, Funnel Leasing has partnered with TransUnion to empower renters with a frictionless…

Benzinga

Cómo un banco atendió a los venezolanos que saquearon su patria, y se fueron a Miami

MIAMI - La página de LinkedIn de Leonardo González Dellán lo promueve como emprendedor y restaurantero. Un aviso de sanciones del Departamento del Tesoro de Estados Unidos de 2019 lo calificaba diferente: testaferro, un "prestanombres" financiero que escondía dinero para políticos venezolanos corruptos.

Miami Herald

How one bank served Venezuelans who looted their homeland, split for Miami

MIAMI — Leonardo González Dellán’s LinkedIn page promotes him as an entrepreneur and restaurateur. A 2019 U.S. Treasury Department sanctions notice called him something else: testaferro, a financial “frontman” hiding money for corrupt Venezuelan politicians.

Miami Herald

Exec pay falls at Credit Suisse as it reveals Russia exposure

Credit Suisse today revealed a £1.3 billion exposure to Russia, the latest hit for the Swiss bank that seems to be perpetually in crisis.

Evening Standard

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Read How Analysts Reacted To MongoDB Post Q4 Earnings Beat

Analysts remained positive on MongoDB Inc (NASDAQ:MDB) despite slashing their price targets on the stock post Q4 results. Barclays analyst Raimo Lenschow lowered the PT to $410 from $556 (25% upside) and kept an Overweight. Atlas growth accelerated again compared to previous years. Morgan Stanley kept an Overweight with an unchanged price target of $633 (90%…

Benzinga

Credit Suisse Cuts General Electric Price Target By 5%

Credit Suisse analyst John Walsh lowered the price target on General Electric Co (NYSE:GE) to $116 (an upside of 30.2%) from $122 and maintained an Outperform rating on the shares. Walsh also updated his quarterly 2022 EPS estimates into GE's analyst day on March 10th, leaving the full year unchanged. Related: GE Stock Slides As Supply…

Benzinga

British MPs urge global banks to close Russian offices ‘without delay’

Labour’s Margaret Hodge says banks including Deutsche Bank, HSBC, JP Morgan and Credit Suisse have ‘moral duty’ to exit quickly

The Guardian - UK

Analysts Cut BJ's Wholesale Club Price Target Post Q4 Results

Analysts slashed their price target on BJ's Wholesale Club Holdings Inc (NYSE:BJ) following the release of Q4 results. Credit Suisse analyst Robert Moskow lowered the price target to $70 from $80 and kept an Outperform rating on the shares, implying a 24% upside. Moskow thinks the pullback in the stock after weak Q4 results is an…

Benzinga

Analysts Bump Up Kroger Price Target Post Q4 Results

Analysts raised their price target on Kroger Co (NYSE:KR) following the release of Q4 results. BMO Capital analyst Kelly Bania raised the price target to $57 from $41 and kept a Market Perform rating on the shares, implying a 2% downside. The analyst notes that the company's Q4 earnings beat was driven by strong comps,…

Benzinga

Read How Analysts Reacted To Gap's Q4 Results

Morgan Stanley analyst Kimberly Greenberger noted Gap Inc's (NYSE:GPS) adjusted EPS loss per share of $(0.02) in Q4 beat expectations. But she finds it "difficult to avoid the conclusion that losing money in what should be one of the most profitable quarters every year suggests fundamentals and execution were gravely challenged." Greenberger thinks…

Benzinga

Analysts Slice Down This Pizza Chain's Price Targets

Analysts lowered their price target on Domino's Pizza Inc (NYSE:DPZ) following the company's Q4 results. Citi analyst Sergio Matsumoto lowered the price target to $480 (18% upside) from $540 and kept a Neutral rating on the shares. The analyst cited forecast decreases and market conditions for the reduced price target. Barclays analyst Jeffrey Bernstein lowered…

Benzinga

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The Guardian - UK

London’s National Gallery under pressure over links to Credit Suisse

Questions raised over sponsorship of exhibitions by scandal-hit Credit Suisse

inkl Originals

The Weekly Wrap for Saturday, 26 February 2022

The Russian Federation has invaded neighbouring Ukraine on three fronts in a brash reassertion of power. Hundreds have died in the initial assault and millions are being uprooted right now.

The Guardian - UK

Credit Suisse leak: three largest parties call for EU to assess Switzerland risk

Three biggest groups in European parliament support possible move to high-risk list for money laundering

Tribune News Service

Commentary: For Credit Suisse and peers, offshore billionaires are always risky

The reputation of Swiss banking has taken a battering for years and the hits keep coming.

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The Guardian - UK

How Swiss banking secrecy enabled an unequal global financial system

Centuries-old code of silence helped Switzerland become a magnet for tax-dodging wealthy clients

The Guardian - UK

The Guardian view on Credit Suisse: in search of a moral compass

Editorial: Another massive data leak has revealed a lack of due diligence by one of the world’s largest private banks

The Guardian - UK

Credit Suisse has allowed the morally bankrupt to steal from the poor for too long

How many exposés will it take for Switzerland and other countries to change their laws on banking secrecy, says Joseph Stiglitz, a Nobel laureate in economics

The Guardian - UK

Switzerland at risk of EU blacklist after Credit Suisse leak

Apparent due diligence failures by Swiss bank prompts centre-right calls for EU to review relationship with Switzerland

The Guardian - UK

The Credit Suisse leaks expose an industry that has got away with too much for too long

I won’t be holding my breath for government action or an UK inquiry into its actions – or into any other bank for that matter, says banking expert Prem Sikka

The Guardian - UK

Crooks, kleptocrats and crises: a timeline of Credit Suisse scandals

A string of controversies have beset Switzerland’s second-largest lender, including Japanese ‘shredding party’ and US sub-prime fraud

The Guardian - UK

First Thing: Kremlin says talk of Biden-Putin summit is ‘premature’

Two leaders could meet if necessary but no concrete plans in place, says spokesperson. Plus: meet the ‘millennial parent whisperer’

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