|Bid||0.8818 x 4000|
|Ask||0.8859 x 3000|
|Day's Range||0.8721 - 0.9020|
|52 Week Range||0.8200 - 7.2500|
|Beta (5Y Monthly)||1.19|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.05 (6.38%)|
|Ex-Dividend Date||Apr 10, 2023|
|1y Target Est||4.18|
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UBS is considering delaying its quarterly results at least until the end of August, as the Swiss banking giant deals with complexities over its takeover of Credit Suisse, the Financial Times reported on Sunday. "Publication date may change depending on the timing of the closing of the anticipated acquisition of Credit Suisse," the notice says. Executives at Switzerland's biggest bank are weighing delaying the publication of results along with an update on the plans for Credit Suisse’s domestic business, the report said, citing people familiar with the matter whom the newspaper did not name.
"Publication date may change depending on the timing of the closing of the anticipated acquisition of Credit Suisse," the notice says. Executives at Switzerland's biggest bank are weighing delaying the publication of results along with an update on the plans for Credit Suisse’s domestic business, the report said, citing people familiar with the matter whom the newspaper did not name. UBS, which agreed in March to take over its smaller rival as part of a rescue orchestrated by Swiss authorities, has said it aims to close the deal quickly.
Pushing second-quarter results until the end of August would buy the bank time to work through complex takeover
Powell's monthly meeting logs for March, released by the Fed on May 5, showed the U.S. central bank chief spoke with Ralph Hamers, then the UBS chief executive, for 30 minutes on March 14. That was five days before UBS agreed to buy Credit Suisse in a deal engineered by Swiss authorities to avoid more market-shaking turmoil in global banking.
Federal Reserve Chair Jerome Powell held a phone call with the head of UBS Group AG in the days before the bank was propelled by Swiss authorities to buy smaller rival Credit Suisse, just one of the dozens of calls and meetings Powell held from mid-March onward as a banking crisis unfolded. Powell's monthly meeting logs, released by the Fed on May 5, showed the U.S. central bank chief spoke with Ralph Hamers, then the UBS chief executive, for 30 minutes on March 14.
ZURICH (Reuters) -Credit Suisse has repaid the liquidity backed by the Swiss government, Finance Minister Karin Keller-Sutter said in an interview with Swiss broadcaster SRF aired late on Wednesday. A person familiar with the matter told Reuters the bank had borrowed 70 billion Swiss francs under the 100 billion Swiss franc ($112.50 billion) scheme. Credit Suisse said in its first-quarter earnings report in April that it used funds from the Swiss National Bank, including loans supported by default guarantees, without detailing how much of which credit facilities it had used.
Swiss National Bank Chairman Thomas Jordan on Wednesday defended recent interest rate hikes to tackle inflation, saying they were neither damaging for Swiss financial stability nor responsible for the downfall of Credit Suisse. The SNB has increased interest rates four times over the past year to reduce inflation which has persisted above the central bank's target of 0%-2%.
Benzinga Advance Auto Parts Stock Gets Hammered After Q1 Earnings: Here’s Why Advance Auto Parts Inc (NYSE: AAP) shares are plunging Wednesday morning as its first-quarter results missed expectations. The company also reduced its full-year guidance and decided to reduce its quarterly dividend. AAP reported first-quarter FY23 sales growth of 1.3% year-on-year to $3.42 billion, missing the analyst consensus estimate of $3.43 billion. The revenue increase was driven by new store openings and was of
Credit Suisse Group AG (NYSE: CS) has scrapped plans to set up a locally incorporated bank in China to avoid a potential regulatory conflict arising from its merger with UBS Group AG (NYSE: UBS). Credit Suisse had been planning to establish a local bank in China for years. The report added that a locally constituted bank would have expanded its onshore wealth management business and increased its presence in the country, reported Reuters, citing two sources. Credit Suisse made the choice because
Hundreds of Credit Suisse's employees are resigning each week in a sign of uncertainty gripping the lender while it is being taken over by rival UBS, two people familiar with the matter said on Wednesday. Credit Suisse bankers, worried about their future are seeking safer employment at competitors, one person said. Swiss newspaper Blick reported earlier on Wednesday that each day around 150 people worldwide were resigning from Credit Suisse while one of the two people said they saw about 200 resignations a week.
(Bloomberg) -- Credit Suisse Group AG said that it’s been notified by the New York Stock Exchange that it’s no longer in compliance with minimum listing criteria.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into Earth’s CrustWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesTwitter Is Now Worth Just 33% of Elon Musk’s Purchase Price, Fidelity SaysJPMorgan Builds Unit for World’s Richest Families in Wealth BetMcCarthy Confident on Debt Vote Despite Hard-Li
HONG KONG/SHANGHAI (Reuters) -Credit Suisse has scrapped plans to set up a locally incorporated bank in China to sidestep a potential regulatory conflict arising from its merger with UBS, said two sources with direct knowledge of the matter. Embattled Credit Suisse had been preparing for years to set up a wholly owned local bank in China. The reason for the Swiss lender's decision was that UBS, which is acquiring Credit Suisse as part of a government-orchestrated rescue of its smaller rival, already has a locally incorporated bank in China, said the sources.
(Bloomberg) -- Wells Fargo & Co. has hired Credit Suisse Group AG investment banker Jill Ford as head of its equity capital markets business, according to people familiar with the matter. Most Read from BloombergWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesMcCarthy Confident on Debt Vote Despite Hard-Line Ouster ThreatPutin Orders Tighter Defenses After Drone Strikes on MoscowStock Rally Loses Steam After AI-Fueled Euphoria: Markets WrapJPMorgan Builds Unit for World’s Ri
The 1996 slasher movie Scream sets out three rules to survive a horror movie: you can never have sex, you can never drink or do drugs and you can never, under any circumstances, say “I’ll be right back”. Among recent bank failures, Silvergate did the deed, Signature Bank got wasted on its parents’ Tia Maria and Silicon Valley Bank did both before popping outside to check the strange noise in the garden. The failure of Credit Suisse really is a horror story.
The Israeli maker of the controversial Pegasus software used to target government officials and activists has been pushed into a restructuring by its lenders.
Ruling from Singaporean judge comes shortly before UBS is expected to complete takeover of Swiss rival
UBS Group AG's (UBS) acquisition of Credit Suisse Group AG receives the European Commission's nod after the latter concluded that the deal would not raise competition concerns.
Credit Suisse owes former Georgian Prime Minister Bidzina Ivanishvili hundreds of millions of dollars for failing to protect the billionaire's money in a trust pilfered by a manager, a Singapore court ruled Friday, the latest scandal for the Swiss bank whose yearslong problems forced its takeover by a rival. Ivanishvili in 2004 put more than $1.1 billion into a trust overseen by the bank's Singapore subsidiary, Credit Suisse Trust Limited, and the employee managing the trust “misappropriated many millions of dollars” over nine years before being caught and sent to prison, the Singapore International Commercial Court said. The billionaire businessman, who amassed a fortune in Russia before serving as Georgia's prime minister from 2012 to 2013, sued the Swiss bank for about $1.2 billion, saying it failed to properly administer the trust and keep its assets safe.
A Credit Suisse Group AG unit was ordered to pay Georgian billionaire Bidzina Ivanishvili what is set be hundreds of millions of dollars by a Singapore court, in yet another blow for the bank in the long-running legal saga. Jan-Patrick Barnert reports on Bloomberg Television. Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com Connect with us on... Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness/ Instagram: https://www.instagram.com/quicktake/?hl=en
A Singapore court ordered a Credit Suisse trust unit to compensate the former prime minister of Georgia, though the judgment didn't state the exact amount of damages to be paid. Credit Suisse Trust Limited failed to safeguard the assets held in the trust and therefore breached its duty to the plaintiffs, which include Georgian tycoon and politician Bidzina Ivanishvili, according to a [judgment](https://www.
ZURICH (Reuters) -Credit Suisse was ordered to pay $926 million to Georgia's former prime minister on Friday for losing part of his fortune, in a Singapore court ruling that represents one of the biggest legal awards made against the bank. Singapore's International Commercial Court said a unit of Credit Suisse had not acted in good faith and neglected to keep the assets of Bidzina Ivanishvili safe, in the latest blow to the troubled bank, which is being taken over by UBS. Credit Suisse immediately said it would appeal the decision.
(Bloomberg) -- Pacific Investment Management Co. is considering joining hundreds of investors in challenging the Swiss regulator’s decision to wipe out about $17 billion of Credit Suisse Group AG bonds following the bank’s takeover by UBS Group AG.Most Read from BloombergEmerging US Debt Deal Would Raise Limit, Cap Spending for Two YearsCathie Wood’s ARKK Dumped Nvidia Stock Before $560 Billion SurgeEurope’s Economic Engine Is Breaking DownCredit Suisse Loses Singapore Case Against Georgian Bill
UBS on Thursday won unconditional EU antitrust approval to acquire Credit Suisse as part of a government-orchestrated rescue of its Swiss rival. The European Commission said the deal would not raise competition concerns in Europe, confirming a Reuters story earlier this month. UBS, which is twice as big as Credit Suisse by assets, agreed to buy its competitor for 3 billion Swiss francs in stock and to assume up to 5 billion francs in losses in March, in a shotgun merger engineered by Swiss authorities to avert contagion in global banking.
The Swiss government on Thursday moved to speed up work on extending a public liquidity backstop Credit Suisse received access to in March under emergency rules to other systemically important banks and make it a permanent part of regulatory framework. Provision of state-guaranteed cash for such banks were they to fall in distress was proposed over a year ago with the finance ministry tasked with preparing draft legislation by mid-2023. But a global banking turmoil and a deepening crisis of confidence in Credit Suisse prompted Swiss authorities to authorize the central bank in March to provide 200 billion Swiss francs ($225.00 billion) in liquidity to the nation's no. 2 lender in emergency measures.
Credit Suisse directly disputed the Swiss financial regulator’s basis for writing down $17bn of its additional tier 1 bonds, in a private letter aimed at sparing staff bonuses that were tied to the debt. The second decree was published in full online last week by Antigua News, a local news outlet. If you are not familiar with Antigua News, you are not alone.