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Credit Suisse seeks billions from investors in make-or-break overhaul

Credit Suisse seeks billions from investors in make-or-break overhaul

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 …

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Credit Suisse pays $495 million to settle legacy US case

Credit Suisse pays $495 million to settle legacy US case

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 …

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Goldman plans major overhaul to combine key units - source

Goldman plans major overhaul to combine key units – source

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 …

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Wall Street banks' profits slide as economic clouds loom, some beat forecasts

Wall Street banks’ profits slide as economic clouds loom, some beat forecasts

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 …

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Wall St drops as consumer data stokes inflation worries

Wall St drops as consumer data stokes inflation worries

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 …

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British pension funds step up fire sales as needed for cash soars

British pension funds step up fire sales as needed for cash soars

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 …

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Credit Suisse shares slip despite moves to soothe investor concerns

Credit Suisse shares slip despite moves to soothe investor concerns

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 …

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Analysis: Under water: how the Bank of England threw markets a lifeline

Analysis: Under water: how the Bank of England threw markets a lifeline

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 …

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