|Bid||11.65 x 36200|
|Ask||11.66 x 29200|
|Day's Range||11.63 - 11.78|
|52 Week Range||10.23 - 16.30|
|Beta (3Y Monthly)||1.36|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.26 (2.20%)|
|1y Target Est||16.64|
Swiss bank Credit Suisse said on Tuesday it has combined its open-architecture business-to-business investment fund platform - Credit Suisse InvestLab - with Spain-based funds solutions provider Allfunds Group. Credit Suisse will take an 18% stake in the combined businesses. Allfunds provides services supporting the mutual fund distribution activities to hundreds of clients across Europe, Asia and Latin America.
A legal battle between a Beijing-based conglomerate and one of China’s most prestigious universities is threatening Credit Suisse’s plans to take majority control of a securities brokerage connected to the dispute. Peking University has launched a lawsuit against shareholders in Founder Group, alleging that its sale of 65 per cent of the company to three investors 15 years ago was invalid due to fraud and the use of state money to make the purchase. The suit seeks to bring the shares held by the trio — Li You, Wei Xin and Yu Li — back under Peking University’s control.
Investing.com - Apple inched higher on Monday as investors mulled reports the tech giant plans to launch three new iPhones in 2020, though gains were kept in check as analysts warned on near-term iPhone growth amid the ongoing U.S.-China trade war.
Credit Suisse is suing the UK tax authorities to recover millions of pounds it paid during the former Labour government’s drive to tax bankers’ bonuses, according to one person briefed on the bank’s actions. The Zurich-based investment bank is seeking to claw back at least £239m, which it paid to HM Revenue & Customs for a temporary fee on bonuses introduced in 2010, the person said. The temporary levy was introduced by then chancellor of the exchequer Alistair Darling as a way to boost his department’s finances following the financial crisis which led to popular anger over bankers’ bonuses.
China's Alibaba Group Holding Limited (NYSE:BABA) has been rumored for some time to be considering a listing in Hong Kong. Those rumors heated up at the start of the week and the prospect sent Alibaba stock up over 4% over the next few days, before giving back those gains, including a 1.6% slide yesterday. However, last night news broke that Alibaba has now filed for that listing, which could raise as much as $20 billion for the company. With that information now making headlines, BABA stock has risen over 1% since yesterday's close.Source: New York Stock Exchange Alibaba Stock Gets Boost on News of Hong Kong ListingBloomberg published a report on Monday that Chinese e-commerce giant Alibaba was close to filing for a listing in Hong Kong. The primary listing for Alibaba stock would remain the New York Stock Exchange, but the secondary stock offering would open Alibaba up to mainland Chinese investors and could put as much as $20 billion in Alibaba's coffers. That cash would come in handy for the company. Like Amazon (NASDAQ:AMZN), Alibaba is involved in much more than e-commerce, including search engines, electronic payment, artificial intelligence, cloud computing, music streaming, smart speakers and a recent effort to push its technology into cars. These ventures require significant R&D costs, and infrastructure investment. Having access to additional cash would also open the doors to acquisitions. BABA stock has also been at risk from the escalating trade war between the U.S. and China. A Hong Kong listing would help to insulate the company should the situation worsen.InvestorPlace - Stock Market News, Stock Advice & Trading TipsReuters broke the news early this morning that Alibaba has filed confidentially for its Hong Kong listing. The unnamed sources said that China International Credit Corp and Credit Suisse Group AG (NYSE:CS) will be the lead banks. Alibaba representatives declined a request to comment, but the news has had a positive effect on Alibaba stock in pre-market trading. BABA stock price has been topping $161.70 after closing at $160.04 on Wednesday. Potential Downside for U.S. MarketsListing Alibaba stock in Hong Kong has obvious advantages for the company, for Hong Kong, and for Chinese investors. But there is risk in this development for U.S. markets. Alibaba's $25 billion 2014 IPO remains the largest in history. The New York Stock Exchange described the September 19, 2014 listing of BABA stock as a "moment emblematic of the truly global nature of capital markets." That global nature has been under strain with the deteriorating relationship between the U.S. and China.Having Alibaba listed in Hong Kong sets a precedent for other Chinese companies.A company of this size choosing to list in Hong King sends the message that Chinese companies don't necessarily need to seek an American IPO to succeed. Making the situation worse, current tensions between China and the U.S. have Chinese companies looking for ways to reduce their exposure to American investment. Other Chinese stocks that are traded in the U.S. could take the same route as BABA stock and also look to Hong Kong for a listing.And as Bloomberg points out, ultimately there could come a point where Chinese investors in Alibaba stock elevate that Hong Kong listing to sharing primary status with New York -- and potentially threatening the New York listing altogether.According to Bloomberg, there are currently 173 Chinese companies with primary listings on the New York Stock Exchange or NASDAQ, with a total market cap of $758 billion. If the Alibaba Hong Kong listing is a success as expected, those numbers may not grow, or in a worst case scenario could begin to shrink, locking U.S. investors out of some of the most exciting tech companies to come out of China. * 7 High-Quality Cheap Stocks to Buy With $10 But that's all hypothetical. And in the meantime, the prospect of raising $20 billion in a Hong Kong listing is helping to lift Alibaba stock.As of this writing, Brad Moon did not hold a position in any of the aforementioned securities.Compare Brokers The post Alibaba Stock Rises on Filing for Hong Kong Listing appeared first on InvestorPlace.
Switzerland's biggest banks, UBS and Credit Suisse, have improved their capital positions but must strengthen their crisis planning, the Swiss National Bank said on Thursday, citing conclusions of financial watchdog FINMA. "The Swiss big banks Credit Suisse and UBS have slightly improved their capital situation overall, in spite of the moderate deterioration in economic and financial conditions", the central bank said in its 2019 financial stability report. UBS and Credit Suisse have until the end of 2019 to prepare so-called resolution plans that would prevent taxpayers from having to bail them out in the event of a crisis.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Credit Suisse AG and other ratings that are associated with the same analytical unit. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement.
NEW YORK, June 11, 2019 /PRNewswire/ -- Commodities decreased as ongoing trade risks between the US and China dampened demand expectations for energy, base metals and livestock commodities. Energy decreased 11.97%, led lower by crude oil and petroleum products, due to US inventory builds and on weakening demand expectations as the ongoing trade war between the US and China weighed on the global growth outlook. Industrial Metals declined 5.88% as the US and China both raised tariffs on imports from each other's nation, reducing base metals demand broadly.
Alibaba plans to file a formal listing application with the Hong Kong stock exchange as soon as the next few weeks, the people said. The offering could raise as much as $20 billion, though Alibaba hasn’t finalized a precise fundraising target, the people said. A deal that size would be Hong Kong’s largest share sale since 2010, according to data compiled by Bloomberg.
Investing.com - Shares of Molson Coors slumped in midday trading after a negative sell-side research note said there is no clear path for stabilization of the stock.
Swiss COMCO fines big global banks around 90 million Swiss francs ($91 million) for rigging prices in the foreign exchange market.
NEW YORK , June 5, 2019 /PRNewswire/ -- On June 3, 2019 , Credit Suisse declared coupon payments for the following ETNs: ETN Ticker ETN Name Closing Indicative Value on 5/31/19 Ex-Date Record Date Payment ...
Mergers are not the best way to help Europe's banks deal with negative interest rates, Credit Suisse Chief Executive Tidjane Thiam said in an interview published on Sunday. "That is not the solution," Thiam told Swiss newspaper Blick am Sonntag. "Negative interest rates have created an extremely difficult environment, where many banks have come under long-term pressure.
RealReal lost $76 million on revenue of $207 million in 2018, compared with a loss of $52 million on revenue of $134 million the previous year, according to its filing Friday with the U.S. Securities and Exchange Commission. The San Francisco-based company, founded by Chief Executive Officer Julie Wainwright, seeks to make it easier sell and buy used luxury items such as clothing, accessories and jewelry on consignment by not only providing platform for transactions, but also by verifying that the goods are authentic. The offering is being led by Credit Suisse Group AG, Bank of America Corp. and UBS Group AG, according to the filing.
UBS Group (UBS) expects to incur high regulatory costs on account of new set of rules proposed by the Federal Reserve for foreign banks.
It has also been amended to reflect that shares of Arabian Centres are due to start trading on Wednesday. It will be the biggest initial public offering since the $6bn listing of lender National Commercial Bank in late 2014.
A former Credit Suisse Group AG banker pleaded guilty on Monday to a U.S. charge that she helped launder money from a kickback scheme involving $2 billion in loans to state-owned companies in Mozambique. Detelina Subeva, 37, pleaded guilty to one count of money laundering conspiracy before U.S. District Judge William Kuntz in Brooklyn, New York. Subeva is one of three Credit Suisse bankers charged by U.S. prosecutors in January with taking part in the scheme.