Top executives at the bank’s final shareholder meeting apologized for the lender’s collapse and forced sale to UBS, while investors spoke of betrayal.
Category: Credit Suisse Group AG
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It’s Not All Bad News for Trump Ahead of His Arraignment
The former president’s poll ratings and some of his business fortunes have rallied ahead of his arraignment on Tuesday.
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Ari Emanuel Buys a Pro Wrestling Heavyweight
The New York Times – Business:Ari Emanuel’s Endeavor acquires World Wrestling Entertainment to create a live event and combat sport giant.
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Bob Iger Ousts a Marvel Antagonist
The New York Times – Business:Ike Perlmutter, the chairman of Marvel Entertainment who’s had a volatile tenure at Disney, was reportedly among the latest round of job cuts at the entertainment giant.
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UBS Taps an Ex-C.E.O. to ‘Pilot’ its Takeover of Credit Suisse
The New York Times – Business:Sergio Ermotti helped the bank recover after the 2008 financial crisis, but faces a tougher task this time around.
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UBS Brings Back C.E.O. to Manage ‘New Challenges’ of Credit Suisse Takeover
The New York Times – Business:Sergio Ermotti, who stepped down from UBS in 2020, will rejoin the Swiss banking giant as it prepares to absorb its troubled rival, Credit Suisse.
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As Banking Worries Swirl, Europe’s Policymakers Express Confidence, With Caution
The New York Times – Business:Officials say eurozone lenders are strictly supervised and continue to be strong. But at a recent conference, wariness about the future remained.
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UBS Weighs Ending a Plan to Preserve Credit Suisse’s Investment Bank
The New York Times – Business:UBS is weighing whether and how to end a deal that would have preserved most of its rival’s investment bank, as part of its takeover of the ailing Swiss lender.
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Will the Fed Raise Interest Rates During a Banking Crisis?
The New York Times – Business:The central bank’s decision on interest rates on Wednesday is shaping up to be the most consequential of the Jerome Powell era.
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UBS and Other Bank Stocks Fall After Credit Suisse’s Firesale
The New York Times – Business:Investors are still spooked after UBS bought its Swiss peer, with confidence in the banking sector in short supply.
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Hedge Funds That Bet on Credit Suisse Rescue Face Uneven Results
The New York Times – Business:Among the funds to bet on the rescue deal were two that specialize in buying the bonds of companies on the brink of bankruptcy.