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Top StoriesCredit Suisse Offers 889 Million Shares to Existing Investors in $4 Billion Capital Hike
InvestingExclusive-Credit Suisse Overhaul Draws Scrutiny From Some Investors, Proxy Adviser Over Governance
Top StoriesCitigroup to Buy Deutsche Bank License in Mexico for Wholesale Unit
Exclusive-Morgan Stanley to Start Layoffs in Coming Weeks as Dealmaking Slows -Sources
Date: November 3, 2022
By Kane Wu, Scott Murdoch and Julie Zhu HONG KONG (Reuters) – Wall Street major Morgan Stanley is expected to start a fresh round of layoffs globally in the coming weeks, three people with knowledge of the plan said, as dealmaking business takes a hit due to rising inflation and an economic downturn. In Asia...
Credit Suisse Overhaul Welcomed by Swiss National Bank – Paper
Date: October 28, 2022
ZURICH (Reuters) – The Swiss National Bank endorses the measures Credit Suisse has taken to transform the embattled Swiss bank and shore up its capital, SNB Vice Chairman Martin Schlegel said. “The SNB welcomes the steps recently announced for the strategic transformation of Credit Suisse,” Schlegel told Swiss newspaper Finanz und Wirtschaft in an interview...
Credit Suisse Seeks Billions From Investors in Make-Or-Break Shake-Up
Date: October 27, 2022
By Noele Illien, Oliver Hirt and John O’Donnell ZURICH (Reuters) – Credit Suisse plans to raise 4 billion Swiss francs ($4 billion) from investors, cut thousands of jobs and shift its focus from investment banking towards rich clients as the bank attempts to put years of scandals behind it. Chairman Axel Lehmann dubbed the plan...
Factbox-Credit Suisse’s Strategic Overhaul at a Glance
Date: October 27, 2022
ZURICH (Reuters) – Battered by years of scandals and losses, Credit Suisse plans to raise capital, cut thousands of jobs and spin off its investment bank. Here are main elements of the new strategy: CAPITAL The bank plans to raise 4 billion Swiss francs ($4.06 billion) to strengthen its balance sheet. Part of this will...
Deutsche Bank Reports Big Jump in Profit Despite Slump in Dealmaking
Date: October 26, 2022
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Deutsche Bank on Wednesday posted a better-than-expected jump in third-quarter profit as a trading boom at its investment bank offset a nosedive in dealmaking, but executives highlighted risks to the economy in the months to come. Despite its ninth consecutive quarter of profit after years of...
Barclays Beats Forecast on Trading Boom, but Bad Loan Charges Rise
Date: October 26, 2022
By Lawrence White and Iain Withers LONDON (Reuters) -Barclays beat forecasts with a small rise in third-quarter profit on Wednesday lifted by a record performance in fixed income trading, but costs and loan charges crept higher in a sign of ongoing challenges. The British bank made a profit before tax of 2 billion pounds ($2.3...