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BusinessCredit Suisse offers big blocks of Discovery, iQIYI shares related to Archegos - sources Reuters 3 minutes read The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann Credit Suisse (CSGN.S) put large blocks of shares in media company Discovery Inc (DISCA.O), and iQIYI Inc (IQ.O) on the market after regular trading ended on Tuesday, multiple sources said, as the bank continued unwinding positions related to last mo...

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Credit Suisse offers big blocks of Discovery, iQIYI shares related to Archegos: sources FILE PHOTO: Logo of Swiss bank Credit Suisse is seen in Zurich (Reuters) – Credit Suisse put large blocks of shares in media company Discovery Inc and iQIYI Inc on the market after regular trading ended on Tuesday, multiple sources said, as the bank continued unwinding positions related to last month’s meltdown of Archegos Capital. Credit Suisse has not yet finished unwinding its Archegos positions, ...

Rattled Archegos stocks investable again after US$194B blow Divya Balji, Bloomberg News The stocks that were hammered as collateral damage in the liquidation of Archegos Capital Management are seeing a silver lining from their slump: they’re becoming investable again. Companies including U.S. media conglomerates ViacomCBS Inc. and Discovery Inc., as well as apparel retailer Farfetch Ltd. saw a total of about US$194 billion in market value erased as banks from New York to Zurich to Tokyo un...

In an era of prosperity for investment banks, Credit Suisse Group AG is careening from one crisis to another and then another -- this time, with a $4.7 billion writedown tied to billionaire investor Bill Hwang’s trading blowout. The staggering hit -- the largest yet linked to market-shaking losses run up by Hwang’s Archegos Capital Management -- prompted sweeping management changes at the Swiss bank Tuesday and cast fresh doubt on its checkered record of managing risks. It caps a catalog ...

The firm will take a 4.4 billion franc ($4.7 billion) writedown tied to its Archegos exposure, forcing it to cut its dividend and suspend share buybacks. The company’s investment bank head and chief risk officer were among more than half a dozen executives replaced over the worst trading debacle in over a decade. While Credit Suisse was far from the only bank that allowed Bill Hwang’s family office to lever up large positions in a few stocks, others managed to unwind their exposure quickly ...

Credit Suisse Executives to Depart After Archegos Losses This content was published on April 6, 2021 - 02:11 April 6, 2021 - 02:11 (Bloomberg) -- Credit Suisse Group AG is shaking up its executive ranks after the Zurich-based lender was hit hard by the collapse of Archegos Capital Management. Investment bank chief Brian Chin is set to leave in an exit that may be announced as soon as Tuesday, according to people familiar with the matter, who asked not to be identified because the move hasn’t ...

Credit Suisse unloads $2.3 billion of stocks tied to Archegos Capital SECTIONS Last Updated: Apr 06, 2021, 07:13 AM IST Share Synopsis The unwinding of Bill Hwang’s Archegos portfolio has turned into one of the biggest fund flameouts since Long-Term Capital Management’s demise in the 1990s. Reuters Related By Drew Singer, Sridhar Natarajan, Crystal Tse and Gillian Tan Credit Suisse Group AG unloaded about $2.3 billion worth of stocks tied to the Archegos Capital blowup more than a week afte...

6 Min Read ZURICH (Reuters) -Credit Suisse said on Tuesday it will take a 4.4 billion Swiss franc ($4.7 billion) hit from dealings with Archegos Capital Management, prompting it to overhaul the leadership of its investment bank and risk division. FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann The scandal-hit bank now expects to post a loss for the first quarter of around 900 million Swiss francs. It is ...

(Bloomberg) -- Credit Suisse Group AG unloaded about $2.3 billion worth of stocks tied to the Archegos Capital blowup more than a week after some rivals dumped their shares and skirted losses.The...