Credit Suisse Group AG investors were taken on a wild ride Wednesday after the bank’s biggest shareholder indicated it wouldn’t increase its stake. That sent shares, bonds and credit-default swaps into contortions despite efforts this week by Credit Suisse’s chairman and chief executive officer to reassure investors.
Switzerland’s central bank and financial regulator said Credit Suisse Group AG will receive a liquidity backstop if needed, seeking to restore confidence in the troubled lender after a record slump in its shares.
US importers bore almost the entire burden of tariffs that President Donald Trump placed on more than $300 billion in Chinese goods, raising the cost of goods bought by American companies, a report by an independent US government agency found.
Credit Suisse Group AG’s subordinated bond holders will likely take losses so the lender can replenish its regulatory capital levels, according to a veteran hedge fund manager.
Federal Reserve Chair Jerome Powell faces growing calls from key lawmakers and regulatory experts for an independent investigation into the collapse of Silicon Valley Bank, not just an internal review by the Fed board.
Short sellers betting against Credit Suisse Group AG stood to reap a substantial profit on Wednesday as the stock plunged to a record low.
T-Mobile US Inc. is buying Mint Mobile, the budget wireless provider partly owned by actor Ryan Reynolds, for as much as $1.35 billion in an effort to bolster its prepaid phone business and reach more lower-income customers.
Volatility gripped global markets as fresh turmoil at Credit Suisse Group AG days after the collapse of some American regional banks spurred a frantic rush for safety, evoking memories of the 2008 financial crisis and bolstering speculation that major central banks will have to curb their hawkishness to prevent a harsher economic landing.
Argentina’s central bank is considering raising its benchmark rate Thursday for the first time since September after annual inflation surged above 100% last month, according to two people with direct knowledge.
Swiss authorities and Credit Suisse Group AG are discussing ways to stabilize the bank, according to people familiar with the matter, after comments by its biggest shareholder and broader financial market jitters helped trigger a plunge in the stock on Wednesday.
