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☆ Women’s World Cup: New Zealand Takes Aim at Another First
▼ + stars: | 2023-07-24 | by ( Claire Fahy | The New York Times | ) www.nytimes.com time to read: +4 min

Hannah Wilkinson after New Zealand’s 1-0 win over Norway, its first-ever win at the Women’s World Cup. The South Koreans have made it to the knockout stages once in three previous World Cup appearances, in 2015. New Zealand vs. Philippines New Zealand’s players shocked many people — including themselves — by upsetting Norway, 1-0, in the opening match of the World Cup. #FIFAWWC pic.twitter.com/WGhond6p7h — Jeff Carlisle (@JeffreyCarlisle) July 21, 2023 The Philippines lost, 2-0, to Switzerland in its World Cup debut. The Norwegians are led by Ada Hegerberg, the 28-year-old striker — and former world player of the year — who sat out the 2019 World Cup in protest of her federation’s treatment of women’s soccer.

Persons: Hannah Wilkinson, Andrew Cornaga, Norway —, —, “, WGhond6p7h, Jeff Carlisle, Alen Stajcic, Ada Hegerberg, Ramona Bachmann, Germain Organizations: Football Ferns, New, Associated Press New, New Zealand, Copa América, Ireland, ”, Ferns, FIFA, United, Switzerland, European, Paris St Locations: Philippines, Colombia, South Korea, Norway, Associated Press New Zealand, New Zealand, Wellington, Switzerland, Korea Colombia, Argentina, Brazil, ” Colombia, China, Sydney, Australia, United States, America, Australian, ” Switzerland, Norway Norway, Swiss

☆ Central banks to Wall Street: More pain is coming
▼ + stars: | 2023-06-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Market euphoria in early June, spurred on by a pause in interest rate hikes by the Federal Reserve, is well behind us now. What’s happening: It’s been just over a week since the Federal Reserve paused its 14-month regimen of interest rate hikes to fight inflation. The Bank of England, meanwhile, surprised investors by raising interest rates in the UK by an outsized half of a percentage point. Central banks had been making smaller interest rate moves as inflation began to ease off of recent highs. Elsewhere in Europe, central banks in Norway and Switzerland also hiked rates to decade-high levels on Thursday.

Persons: We’re, It’s, Jerome Powell, ” Powell, Stocks, Scott Wren, Wells, ”, Samantha Delouya, Elon Musk, Mark Zuckerberg, Musk, Zuckerberg, Hanna Ziady, Alex Heath, “, Paddy Power Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Central Bank, Nasdaq, Senate, Financial Services, The Bank of England, Bank of England, Fed, Commonwealth, 3M, WWE, Tech, Twitter, Meta, “ Locations: New York, Europe, Norway, Switzerland, ” Switzerland, United States, Wells Fargo, Las Vegas

☆ UBS completes Credit Suisse takeover
▼ + stars: | 2023-06-12 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —UBS has finalized its emergency takeover of fallen rival Credit Suisse, creating a giant Swiss bank with nearly $1.7 trillion in assets in the biggest banking tie-up since the 2008 global financial crisis. The government has said that allowing Credit Suisse (CS) — one of the world’s 30 most important banks — to fail would probably have triggered an international financial crisis. Swiss taxpayers are on the hook for up to 9 billion Swiss francs ($10 billion) of losses that UBS may incur from certain Credit Suisse assets, over and above losses of 5 billion francs ($5.5 billion) that UBS has agreed to bear itself. Investors have already sued the Swiss financial regulator over its decision to impose those losses on them, Reuters has reported. Credit Suisse bled customer deposits worth 67 billion francs ($74.3 billion) in the first three months of the year, adding to massive withdrawals at the end of last year.

Persons: FINMA, “ FINMA, “, Sergio Ermotti, Colm Kelleher, Ermotti, Kelleher, ” Organizations: London CNN, UBS, Credit Suisse, Swiss, Financial Times, CNN, Suisse, Reuters, Credit, Silicon Valley Bank, Signature Bank Locations: Swiss, Switzerland, Silicon, United States

☆ World Cup Round of 16: Cristiano Ronaldo and Portugal face Switzerland for a place in the quarterfinals
▼ + stars: | 2022-12-05 | by ( Issy Ronald | ) edition.cnn.com time to read: +5 min

Switzerland, meanwhile, navigated a difficult group with victories against Cameroon and Serbia seeing them through to the knockout stages despite a loss to Brazil. The last time the two sides met was in the Nations League in June when Portugal dismantled Switzerland 4-0 in Lisbon. Switzerland celebrates defeating Serbia 3-2 and qualifying for the knockout stages. Like Portugal, Spain is entering its round of 16 match against Morocco immediately after a shock defeat to an Asian nation – a 2-1 loss to Japan – in the group stages. “We said we wanted to give everything we’ve got to get out of the group stages,” said Regragui, according to the Guardian.

☆ Credit Suisse warns of $1.6 billion loss as rich clients leave
▼ + stars: | 2022-11-23 | by ( ) edition.cnn.com time to read: +4 min

Credit Suisse expects a pretax loss of up to 1.5 billion Swiss francs ($1.58 billion) in its fourth quarter as it keeps bleeding cash, the Swiss bank said on Wednesday, shortly before shareholders approved a $4 billion capital hike. It said this trend in the wealth management division, catering to rich clients, has since improved, but had yet to reverse. The bank has been battered by a string of scandals and losses, including a $5.5 billion loss from the unraveling of US investment firm Archegos. Client activity had remained subdued in the wealth management and Swiss Bank divisions, a situation expected to continue in the coming months, the bank said. Analysts expressed concern about the outflows, which Bank Vontobel estimated to be around 84 billion Swiss francs ($88.2 billion).

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