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☆ Switzerland says UBS may need more cash. The bank is fuming
▼ + stars: | 2024-04-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

Now, the giant Swiss lender is hitting back, saying its finances are robust and warning that the proposal could harm Switzerland’s standing as a global financial center. “There can be no regulatory solution for a broken business model,” he continued, referring to Credit Suisse. UBS bought its stricken rival last March in a government-orchestrated rescue aimed at preventing a global financial crisis. It was not too-low capital requirements that forced Credit Suisse into the historic weekend rescue,” he added. But that leaves the stock more vulnerable to declines as a result of “execution risk in the Credit Suisse integration,” suggested Citi analyst Andrew Coombs.

Persons: London CNN —, Colm Kelleher, “, ”, Kelleher, Pascal Mora, Karin Keller, Keller Sutter, Anke, Andrew Coombs, ” Kelleher, Sergio Ermotti’s, Ermotti Organizations: London CNN, Credit Suisse, UBS, Bloomberg, Getty, RBC Capital Markets, Citi, Reuters Locations: Swiss, Switzerland, Europe

☆ Top wealth manager Julius Baer caught in property write-off storm as CEO steps down
▼ + stars: | 2024-02-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A pedestrian sheltering under an umbrella passes a Julius Baer Group Ltd. branch in Zurich, Switzerland, on Tuesday, July 13, 2021. Group Chair Romeo Lacher said he and the board "deeply regret" net credit losses of 606 million Swiss francs ($701 million), well above consensus expectations, which include a loan loss allowance of 586 million francs. Julius Baer in November announced its exposure to the struggling Austrian company, which has been hit by the higher interest rate environment. It further said Thursday it would exit its private debt businesses, winding down its remaining private debt book of 800 million million Swiss francs, 2% of its total loan book. The bank reported net profit attributable to shareholders of 454 million Swiss francs for the full-year 2023, down 52%, with earnings per share of 2.21 francs.

Persons: Julius Baer, Philipp Rickenbacher, Romeo Lacher, Rickenbacher, Nic Dreckmann, Anke Reingen Organizations: Julius Baer Group, Signa, Austrian, CNBC, Swiss, RBC Locations: Zurich, Switzerland, Swiss

☆ A new book reportedly named King Charles and Kate Middleton as the royals said to have made racist remarks. It's causing chaos for the British monarchy — here's a timeline of the fallout.
▼ + stars: | 2023-12-01 | by ( Maria Noyen | ) www.businessinsider.com time to read: +2 min

Meanwhile, the book's Dutch translator told the Daily Mail there were names in the transcript she was given. "The names of the royals were there in black and white," Saskia Peeters told the Daily Mail. I just did what I was paid to do and that was translate the book from English into Dutch." Peeters also said she worked to translate the book into Dutch with fellow translator Nellie Keukellar-van Rijsbergen. "All of this is frustrating because it feeds into something that couldn't be further from the truth," Scobie said.

Persons: Xander, John Rainford, Xander's, Anke Roelen, Paul Thompson, Scobie's, Saskia Peeters, " Peeters, Nellie Keukellar, van Rijsbergen, Scobie –, Scobie, I've, Roelen, Peeters Organizations: Daily Mail, BBC Locations: Dutch

☆ Sergio Ermotti, UBS CEO, is leading the biggest banking deal in history. Failure is not an option
▼ + stars: | 2023-11-13 | by ( Hanna Ziady | ) edition.cnn.com time to read: +11 min

The caller was UBS (UBS) chairman Colm Kelleher. “I was definitely not expecting the phone call,” Ermotti told CNN on the sidelines of a conference in Geneva last month. UBS paid 60% less than the beaten-down value of Credit Suisse shares just before its last-ditch rescue over a weekend. Even if Credit Suisse had none of that painful baggage, the sheer size of the two banks makes the merger an enormous undertaking. “The fact that UBS was asked to be part of the solution (to Credit Suisse), that was the ultimate success,” Ermotti told CNN.

Persons: Sergio Ermotti, Colm Kelleher, Ermotti, ” Ermotti, Anke Reingen, Roger Federer, “, ”, Morgan Stanley, ” Kelleher, Michael Buholzer, it’s, Katrin Koch, Tom Naratil, —, Merrill Lynch, Stefan Wermuth, Oswald Gruebel, ” Christopher Wheeler, Fabrice Coffrini, … Organizations: Switzerland CNN, UBS, Credit Suisse, CNN, Bank of America, JPMorgan, HSBC, RBC Capital Markets, RBC, Ermotti’s, Banca, Citi, UBS —, Bloomberg, New York Times, Getty Locations: Geneva, Switzerland, Swiss, Zurich, Lugano, Singapore, Europe, Middle East, Africa, New York, AFP

☆ Europe and UK banks' quarterly earnings 'quite reassuring,' analyst says
▼ + stars: | 2023-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEurope and UK banks' quarterly earnings 'quite reassuring,' analyst saysAnke Reingen, banks analyst at RBC Capital Markets, discusses U.K. and European banks earnings and says the results so far have been "quite reassuring."

Persons: Anke Organizations: Europe, RBC Capital Markets

Fabrizio Campelli, who oversees Deutsche's investment bank, said it had been looking to grow its business in Britain. Deutsche Bank shares rose as much as 2.5% in early trade before erasing gains. MOVING INAs part of the deal, 35 Deutsche Bank corporate finance employees will move in with more than 300 London-based Numis staff. As part of its strategy, Deutsche Bank - a leading bank in Germany with strong European roots - said earlier this week that it aims to accelerate "growth initiatives" including potential acquisition of portfolios and assets. Britain is the largest investment banking market in Europe and Numis is a diversified investment bank with a UK franchise.

☆ 'The weakest links are cracking': Investors consider possible Credit Suisse contagion
▼ + stars: | 2023-03-16 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

"But I would very strongly recommend sticking to high-quality companies — that means strong management, strong balance sheets, strong value proposition. Even before the shock collapse of two U.S. banks last week, Credit Suisse has been beset with problems in recent years, including money laundering charges and spying allegations. Credit Suisse management said Wednesday, however, that its latest step to secure a sizable funding deal showed "decisive action" to strengthen the business. Analysts at UBS, meanwhile, said market participants were "grappling with three interrelated but different issues: bank solvency, bank liquidity, and bank profitability." "In short, we think bank solvency fears are overdone, and most banks retain strong liquidity positions," they added.

☆ What analysts are saying about Credit Suisse after 'central bank bazooka' is unleashed
▼ + stars: | 2023-03-16 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Wall Street analysts were split on whether they should buy into Credit Suisse — though they found central bank support of the troubled Swiss firm reassuring. Earlier, the central bank said it would give Credit Suisse liquidity if necessary, saying the firm is well capitalized. On Wednesday, Credit Suisse shares tumbled 13.9% after the firm's largest investor, the Saudi National Bank, said it could not give more funding, driving fears of a banking crisis in Europe. However, following the decision to borrow from the central bank, JPMorgan's Roberto Henriques reiterated an overweight rating on the firm. The analyst expects that the "central bank bazooka" will assuage investors concerned over liquidity issues and give Credit Suisse enough time to roll out a restructuring plan.

☆ Credit Suisse delays filing its annual report, reviving fears about the Swiss bank's finances
▼ + stars: | 2023-03-09 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Credit Suisse has delayed filing its annual report after a call from the US financial watchdog. "Management believes it is prudent to briefly delay the publication of its accounts in order to understand more thoroughly the comments received," Credit Suisse said. Credit Suisse ADRs have plunged 61% over the past year, with a restructuring plan announced on October 27 also failing to reassure markets of the bank's resilience. The SEC's late call isn't Credit Suisse's only regulatory worry. Read more: Credit Suisse is fending off concerns about its financial health, fanning fears of another Lehman Brothers moment that could roil the global financial system.

☆ Credit Suisse personal & business banking boss to leave
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: 1 min

ZURICH, March 1 (Reuters) - Credit Suisse (CSGN.S) on Wednesday said its Head of Personal & Business Banking, Anke Bridge Haux, is to leave the bank to take on a new role as CEO of the Swiss arm of LGT Bank. Credit Suisse's current chief operating officer of Personal & Business Banking, Michael Sager, will take over leadership of the business on an interim basis with immediate effect and become a member of the executive board of Credit Suisse (Switzerland) Ltd. Reporting by Noele Illien; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ De Ziua Limbii Chineze, află cine a stat la originile acestei limbi, dacă este într-adevăr atât de complicată și unde o poți învăța în Moldova
▼ + stars: | 2021-04-20 | by ( Onixmedia Srl | Corespondentă Din Liceu | ) diez.md time to read: +5 min

De Ziua Limbii Chineze, află cine a stat la originile acestei limbi, dacă este într-adevăr atât de complicată și unde o poți învăța în MoldovaLimba chineză este cunoscută ca una dintre cele mai complexe limbi și este adânc înrădăcinată în istorie existând de mii de ani. În data de 20 aprilie, sărbătorim Ziua Limbii Chineze, o zi în care vom răspunde la aceste întrebări și poate te vom convinge să o înveți. # MANDARINĂ (HAN/CHINEZĂ STANDARD)Mandarina este un dialect al limbii chineze vorbit în partea de nord a Chinei, inclusiv în zona capitalei Beijing. Ziua limbii chinezeZiua Limbii Chineze este sărbătorită în această zi pentru a onora personalitatea lui Cangjie. Cum poți învăța chinezaÎn Republica Moldova, poți să înveți și să promovezi limba chineză prin intermediul Institutului Confucius de la Universitatea Liberă Internaţională.

Persons: Împăratul Galben, cantoneza, Min ., Cangjie, Confucius Organizations: Limbii Chineze, Chineze, Kuomintang, Națiunile Unite, Universitatea Liberă Internaţională, Android Locations: Moldova Limba, Limba, Chinei, China, Malaysia, Singapore, Indonezia, Tailanda, Brunei, Filipine, Mongolia, cantoneza, Beijing, Cantoneza, Hong Kong, Macao, Shanghai, Taiwaneza, Taiwan, China continentală, Taiwanului, Republica Moldova, Memrise

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