Page 7 - Credit Suisse

Credit Suisse hires 20 banks for $4 bn capital increase to restructure

Credit Suisse Group AG hired about 20 banks to help with a $4 billion capital increase that will help fund the extensive restructuring unveiled last week

Credit Suisse to pay $234 million to settle French tax fraud case

French prosecutors said Monday that Credit Suisse has agreed to pay 238 million euros (USD 234 million) to settle tax fraud allegations, the latest blow for the embattled Swiss bank. The bank will pay 123 million euros in fines and 115 million in damages and interest to France, whose investigators will close an inquiry launched in 2016 on possible charges of aggravated tax fraud laundering and illegal soliciting, French prosecutor Jean-Franois Bohnert said in a statement. French media have reported that Credit Suisse representatives courted wealthy French customers to persuade them to open accounts with the bank that weren't declared to French tax authorities. Credit Suisse says it doesn't acknowledge criminal liability in the settlement. The bank is pleased to resolve this matter, which marks another important step in the proactive resolution of litigation and legacy issues," the company said in a statement. It comes just a week after Credit Suisse agreed to pay USD 495 million i

Credit Suisse to pay $495 mn to settle case linked to 2008 financial crisis

The Swiss bank said in a statement on Monday that it's "fully provisioned" for the payment, which will resolve claims tied to more than $10 billion in such securities

UK PM Liz Truss sacks finance minister Kwarteng: Here is what happened

Kwarteng recently said that he was 'absolutely, 100 per cent' confident that he would be in post in November despite rising rebellion

Credit Suisse faces US tax probe, Senate inquiry over accounts: Report

Credit Suisse's main banking unit pleaded guilty in 2014, admitting it helped thousands of Americans evade taxes. It paid $2.6 billion under that deal

Credit Suisse crisis: Of spies, lies, and money laundering

Credit Suisse offers to buy back debt securities worth 3 bn Swiss francs

Credit Suisse Group AG is offering to buy back debt securities for cash worth approximately 3 billion Swiss francs, just as the embattled lender tries to put finishing touches on a planned overhaul

Credit Suisse's shares need 'clarity' to halt slump, says JPMorgan

While the bank continues to get buffeted by negative newsflow on uncertainty over its strategy, clarity on its restructuring plans can help to restore stability, wrote expert in a note

TMS Ep275:Credit Suisse, Natural Gas Price, NIFTY Earnings, Insider Trading

How big a threat is Credit Suisse to India and the world? How will high global natural gas prices affect India? Will banks and auto drive Nifty earnings in Q2? What is insider trading? Answers here

How big a threat is Credit Suisse to India and the world?

The fall in the stock of Credit Suisse signals that there is something seriously wrong with the bank. Just like Lehman Brothers in 2008, the financial cost of its collapse would be huge. Here's more

HSBC Holdings hires Credit Suisse's Chua for top M&A business in Asia

Credit Suisse Group AG's Christopher Chua is leaving the bank to help oversee the Asia mergers and acquisitions business at HSBC Holdings Plc

Credit Suisse loses Asia deputy wealth management head as departures mount

Credit Suisse Group AG's deputy wealth management head for Asia is leaving after about two decades with the bank, joining a wave of departures from the embattled firm

Credit Suisse's scandals, challenges: Spies, lies, and money laundering

Already wobbling under pressure from a declining stock price, the bank in October saw its credit default swaps surge to the highest level in two decades

HDFC Bank is now ten times bigger than the crisis-struck Credit Suisse

Along with HDFC Bank, several Indian banks have a higher m-cap than the crisis-struck Swiss bank, including ICICI Bank, SBI, Kotak Mahindra Bank, Axis Bank and IndusInd Bank

Weak financials, shaky management: What's wrong at Credit Suisse?

Credit Suisse's share price has fallen nearly 60 per cent in 2022, more than halving its market cap in just a matter of months

Credit Suisse plummets 12%, options worsen as market mayhem takes toll

Shares in the Swiss banking giant plummeted 12% to an all-time low on Monday after a weekend of fevered Twitter speculation about its financial health, before they regained almost all of the losses

Credit Suisse in market spotlight despite moves to calm concerns

Credit Suisse Group AG saw its shares slide by as much as 11.5% and its bonds hit record lows on Monday before clawing back some of the losses

Credit Suisse mkt turmoil deepens after CEO memo backfires; stock falls 12%

The turmoil was sparked by a memo late that day from Chief Executive Officer Ulrich Koerner, in which he had sought to play down speculation surrounding the bank's overhaul plans

Credit Suisse shares slip despite moves to soothe investor concerns

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

Credit Suisse CEO seeks to calm as default swaps near 2009 level

The five-year credit default swaps price of about 250 basis points is up from about 55 basis points at the start of the year and is near their highest on record