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The Latest Breaking News from Credit Suisse

Digital bank runs: social media played a role in recent financial failures but could also help investors avoid panic

A crisis of confidence in the US banking sector led people to pull their money from banks including Silicon Valley Bank and Credit Suisse, and more recently, First Republic Bank and California-based PacWest Bancorp. The way these events have unfolded have created a new term in the vocabulary of finance:…

The Conversation

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

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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

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

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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

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

UBS hopes to complete Credit Suisse takeover before July

Zurich (AFP) - UBS said Tuesday it would likely complete its takeover of stricken rival Credit Suisse before the end of June, as the bank posted an underwhelming first quarter net profit of $1.0 billion.

AFP

UBS posts $1.0 bn Q1 net profit, Credit Suisse takeover completion set for Q2

Zurich (AFP) - UBS said Tuesday it would likely complete its takeover of stricken rival Credit Suisse in the second quarter, as the bank posted an underwhelming first quarter net profit of $1.0 billion.

AFP

Investors look for strength in UBS results

Zurich (AFP) - UBS is expected to post solid first quarter results Tuesday, with all eyes on whether the bank is strong enough to carry through its forced alliance with stricken rival Credit Suisse.

AFP

Stocks seek direction before tech earnings results

New York (AFP) - European and Wall Street stock markets were largely flat Monday after some losses in Asia, as investors awaited earnings from US tech behemoths this week.

AFP

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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

Evening Standard

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

AFP

Over $68 bn withdrawn from Credit Suisse ahead of UBS takeover

Zurich (AFP) - Tens of billions were withdrawn from Credit Suisse in the first three months of 2023, the bank's earnings report showed Monday, providing clues to the towering challenges ahead as UBS prepares an emergency takeover.

AFP

Europe opens down, Asian stocks mixed ahead of tech earnings results

Hong Kong (AFP) - European stocks opened down on Monday and Asian trade was mixed, with investors mostly treading water ahead of key data releases this week, including earnings results from US tech behemoths.

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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.

AFP

Investors hope for answers in Credit Suisse, UBS results

Zurich (Switzerland) (AFP) - When Credit Suisse unveils what are likely its final quarterly results Monday, investors will be seeking clues to the magnitude of the challenges awaiting UBS, after it was strongarmed into taking over its stricken rival.

Evening Standard

Cheerier finance chiefs still worried about troubles ahead

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

The Guardian - UK

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 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

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