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Credit Suisse Scandal Toll Goes Ever Higher as Rivals Thrive yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Credit Suisse scandal toll goes ever higher as rivals thrive bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
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 after some rivals dumped their shares and skirted losses. The Swiss bank hit the market with block trades tied to ViacomCBS Inc., Vipshop Holdings Ltd. and Farfetch Ltd., a person with knowledge of the matter said. The stocks traded substantially below where they were last month before Bill Hwang’s family office imploded. ....
Credit Suisse Scandal Toll Goes Ever Higher as Rivals Thrive This content was published on April 6, 2021 - 20:30 April 6, 2021 - 20:30 (Bloomberg) 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 of costly errors at Credit Suisse most recently the collapse of Greensill Capital in what was supposed to be the start of steadier era under Chief Executive Officer Thomas Gottstein. ....
Credit Suisse to write down $4.7bn after Archegos implosion thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.