ZURICH, Oct 27 (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 its rich clients, as the bank attempts to put years of scandals behind dog The Swiss lender outlined on Thursday what its chairman Axel Lehmann …
Credit Suisse seeks billions from investors in make-or-break overhaul Read More »
Bank of America, BNY benefit from rising interest rates Growth stocks jump as Treasury yields fall Goldman Sachs up on report of major business overhaul Dow up 1.95%, S&P 500 up 2.76%, Nasdaq up 3.53% Oct 17 (Reuters) – US stocks rallied on Monday after Britain reversed course on an economic plan, while Bank of …
Wall Street jumps after BofA results, UK reversal Read More »
Settlement ends bank’s largest outstanding RMBS case Credit Suisse says settlement is fully covered by provisions The bank still has five cases to resolve Expects to resolve outstanding cases in next six months ZURICH, Oct 17 (Reuters) – Credit Suisse (CSGN.S) has agreed to pay $495 million to settle a case related to mortgage-linked investments …
Credit Suisse pays $495 million to settle legacy US case Read More »
Oct 16 (Reuters) – Goldman Sachs (GS.N) is planning a major reorganization to combine its biggest businesses into three divisions with its storied investment banking and trading businesses being merged into a single unit, a source familiar with the matter told Reuters. The plans, which are expected to be announced on Oct. 18 in conjunction …
Goldman plans major overhaul to combine key units – source Read More »
Oct 14 (Reuters) – Profits slid at Wall Street’s biggest banks in the third quarter as they braced for a weaker economy while investment banking was hit hard, but investors saw a silver lining with some banks beating estimates. JPMorgan Chase & Co (JPM.N), Morgan Stanley (MS.N), Citigroup Inc (CN) and Wells Fargo & Co’s …
Wall Street banks’ profits slide as economic clouds loom, some beat forecasts Read More »
JPM reports higher-than-expected Q3 profit S&P 500, Nasdaq post weekly declines US consumer sentiment edges up October; inflation ests. worse Dow down 1.34%, S&P 500 down 2.37%, Nasdaq down 3.08% NEW YORK, Oct 14 (Reuters) – US stocks dropped on Friday as worsening inflation expectations kept intact worries that the Federal Reserve’s aggressive rate hike …
Wall St drops as consumer data stokes inflation worries Read More »
LONDON, Oct 11 (Reuters) – UK pension schemes are racing to raise hundreds of billions of pounds to shore up derivatives positions before the Bank of England calls time on support aimed at keeping them afloat. The Bank of England plans to stop buying bonds on Oct. 14, leaving pension schemes scrambling to meet a …
British pension funds step up fire sales as needed for cash soars Read More »
To buy back up to $3 billion in debt Seen as a bid to reassure nervous investors Move comes weeks ahead of planned overhaul Shares up as much as 3% in early trade ZURICH, Oct 7 (Reuters) – Credit Suisse ( CSGN.S ) will buy back up to 3 billion Swiss francs ($3 billion) of …
Credit Suisse pays down debt to calm investor fears Read More »
Credit Suisse caught in market turbulence ahead of revamp Shares fell as much as 10% in early trading on Monday Bank’s euro-denominated bonds reach record lows Swiss bank says its capital, liquidity are strong ZURICH, Oct 3 (Reuters) – Credit Suisse (CSGN.S) shares slid by as much as 10% on Monday, reflecting market concerns ahead …
Credit Suisse shares slip despite moves to soothe investor concerns Read More »
Bank of England bought bonds after pension fund pleas Some UK pension funds faced problematic margin calls BoE support seen as giving window to build collateral British government’s unfunded tax plan spooked markets LONDON/NEW YORK, Oct 2 (Reuters) – Calls to the Bank of England saying some British pension funds were struggling to meet margin …
Analysis: Under water: how the Bank of England threw markets a lifeline Read More »
