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The Latest Breaking News from Credit Suisse

Credit Suisse History Of Doing Business Members Of The Nazi Party Remembered

Top Republican in the U.S. Senate Budget Committee questions the bank's history of the Nazi's interests.

Zenger

Is the banking crisis coming to an end? As JP Morgan CEO notes, risks linger

Jamie Dimon says this phase of bank collapses is over, but ‘other cracks in the system’ could still be revealed

The Guardian - UK

Elon Musk Makes Dire Prediction About the Economy

The serial entrepreneur says he has data, through his various companies, that show that the U.S. economy is already in a "mild recession" and things could worsen.

The Street

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Vlad Yatsenko net worth | Evening Standard Tech Rich List

Born to Ukrainian parents in communist East Germany, the software developer Vlad Yatsenkopreviously worked for Deutsche Bank and Credit Suisse, where he built traditional financial systems.

Evening Standard

NatWest first-quarter profits jump by 50% after interest rate rises

Banking group says some customers have had to dip into savings because of rising prices

The Guardian - UK

Nikolay Storonsky net worth | Evening Standard Tech Rich List

Russian-born Nikolay Storonsky knows what it takes to dive in head-first and win a race. Having been a champion swimmer while at school, he set up Revolut, the cutting-edge financial app in 2014. The former trader at Credit Suisse and Lehman brothers knows a thing or two about managing risk…

Evening Standard

Ensuring financial inclusion, when NZ can't bank on the big banks

Softer rules for smaller institutions would be a bold call for MPs – and one they might regret, if the troubles that have hit SVB, Credit Suisse and others extend down to this corner of the globe, says Jonathan Milne.

Newsroom.co.nz

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UBS reaps $28B in new money amid Credit Suisse fallout

Swiss bank UBS says it took in $28 billion in new money from wealthy clients in the first three months of the year

The Independent UK

Central banks end crisis offer as bank system fears ease

Major central banks are standing down from their offer of daily emergency dollar loans to banks, a crisis step launched after the collapse of Silicon Valley Bank in the U.S. fed fears about the stability of the global financial system

The Independent UK

Credit Suisse saw $69 billion in outflows at start of 2023

Credit Suisse says it saw nearly $69 billion in outflows in the first three months of the year and that clients are still withdrawing assets

The Independent UK

Bank panic leads to £55 billion in outflows at fallen giant Credit Suisse

Extent of bank run highlights City job fears into the shotgun marriage with UBS

Evening Standard

FTSE 100 Live: CBI dismisses ‘a number of people’; Credit Suisse outflows haven’t stopped

Results from collapsed bank Credit Suisse today revealed the scale of the run on assets during last month’s industry turmoil.

Evening Standard

Cheerier finance chiefs still worried about troubles ahead

Survey of normally cautious CFOs find them at their most bouyant since 2020

Evening Standard

Credit Suisse investors suing Swiss regulator after £4bn bond wipeout

Finma accused of acting unlawfully and undermining confidence in Switzerland as a financial centre

The Guardian - UK

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The Independent UK

Credit Suisse investors sue after facing billions in losses

A group of Credit Suisse investors have sued Swiss financial regulators after a government-engineered takeover of the struggling bank by rival UBS left them with billions in losses

The Street

Credit Suisse Accused of Covering Up Inquiry Into Nazi-Linked Accounts

The Senate Budget Committee says the bank fired an independent ombudsperson investigating Nazi ties without explanation.

The Independent UK

Credit Suisse faulted over probe of Nazi-linked accounts

U.S. lawmakers have accused the embattled Swiss bank Credit Suisse of limiting the scope of an internal investigation into Nazi clients and Nazi-linked accounts

Investors Business Daily

Boeing Stock Sinks On 737 Production Issue; Analysts 'Cautiously Optimistic' BA Can Meet Guidance

Boeing stock sank Friday after warning of weaker 737 Max production and deliveries for the short term, citing a parts issues.

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The Street

JPMorgan Stock Leaps After Blasting Q1 Earnings Forecast As Higher Rates Lift Bottom Line

"The storm clouds that we have been monitoring for the past year remain on the horizon, and the banking industry turmoil adds to these risks," said JPMorgan CEO Jamie Dimon.

The Guardian - UK

Bank of England considers bolstering protection for savers

Governor reveals review of payout policy after failures of Silicon Valley Bank and Credit Suisse in March

The Independent UK

Credit Suisse rescue rebuked by half of Swiss parliament

Switzerland’s lower house of parliament has issued a searing — though symbolic — rebuke of an emergency plan spearheaded by the executive branch to prop up embattled Credit Suisse and shepherd it into a takeover by Swiss banking rival UBS

France 24

IMF forecasts inflation could remain high until 2025, affecting global growth

During its annual Spring Meeting in Washington, the International Monetary Fund has revised its forecasts upward to 7 percent for global inflation this year and 4.9 percent in 2024. Those figures, above the target rate of 2 percent, will be contributing factors in slowing down growth, including for developing economies.…

Reuters

Credit Suisse rescue package rejected by Swiss parliament

Switzerland's parliament rejected on Wednesday the government's 109 billion Swiss francs ($120.82 billion) aid for Credit Suisse's merger with UBS, leaving the fallen bank's hastily arranged rescue without a largely symbolic parliamentary blessing.

The New Daily

IMF warns deeper financial turmoil would hit growth

The International Monetary Fund has trimmed its 2023 global growth outlook slightly as higher interest rates cool activity.

France 24

Alibaba unveils chatbot as China tightens rules on AI

Alibaba is the latest tech company to enter the artificial intelligence race, as it unveils its own chatbot, Tongyi Qianwen. But it could face restrictions before even launching, as authorities in Beijing have outlined draft regulations to govern AI, including the stipulation that such platforms will reflect the core values…

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