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☆ Djokovic battles past Dimitrov in Rome, Swiatek cruises
▼ + stars: | 2023-05-14 | by ( ) www.reuters.com time to read: +3 min

The former world number three did however reel off four straight games from 2-4 to take the second set and force a decider. But the world number one hit back to claim the next 12 for a 6-2 6-0 victory that extended her Rome win streak to 13 matches. Sixth seed Coco Gauff later crashed out against Marie Bouzkova, who sealed a 4-6 6-2 6-2 win. Daniil Medvedev broke his Rome duck on his fourth attempt with a clinical second-round win over Emil Ruusuvuori. "It's a little bit (of a relief)," Medvedev said after his 6-4 6-2 win.

☆ Pegula upset with Madrid organisers after finalists denied speeches
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

May 10 (Reuters) - World number three Jessica Pegula has criticised Madrid Open organisers after the American and her fellow women's doubles finalists were not allowed to make speeches at the trophy ceremony. Pegula and Coco Gauff lost the women's doubles final 6-1 6-4 to Victoria Azarenka and Beatriz Haddad Maia on Sunday and none of the players were given the chance to address the audience. The men's doubles finalists were allowed to do so following their match a day earlier. I had a feeling something was going to happen," Pegula told reporters on Tuesday ahead of the Italian Open. "I have a lot of finals, so it's not about that," she told reporters.

☆ Madrid Open causes controversy: 'Sexist' ball girl outfits, silencing the women's finalists and small birthday cakes
▼ + stars: | 2023-05-09 | by ( Matias Grez | ) edition.cnn.com time to read: +4 min

CNN —One of the most prestigious tennis tournaments outside of the four grand slams, the Madrid Open attracts the biggest names in the sport. However, this year’s edition has drawn as much attention for off-court controversy as it has for the action on the clay surface. Following the backlash, the skirts were swapped for long shorts in Sunday’s final, but the crop tops remained. “In the end, it is a form of sexist violence that is so widespread because people don’t even notice it.”The ball girl outfits were changed slightly for the final. Julian Finney/Getty ImagesThe Madrid Open and IMG – the tournament is part of the sports management company’s roster of tennis events – weren’t immediately available for comment when contacted by CNN Sport.

☆ The Met Walks a Fine Line on Lagerfeld: Judge the Clothes, Not the Man
▼ + stars: | 2023-05-04 | by ( Vanessa Friedman | ) www.nytimes.com time to read: +1 min

I admit: I never entirely drank the Karl Lagerfeld Kool-Aid. I was not one of those critics (and there were some) who would clutch their breast, shriek “genius!” and swoon after every show. Sure, that tweed sweatsuit made that model look like a Real Housewife — but everyone was looking at the double-C branded pasta on the faux megamart shelf instead! Once I got spoken to by the Chanel press office for not fully “understanding” Lagerfeld’s vision. He didn’t give the world a new silhouette, or an expression of identity, the way Coco Chanel herself did, with the bouclé suit, or Christian Dior, with the New Look, or Saint Laurent, with Le Smoking, the tuxedo suit for women.

☆ Surgery rules Raducanu out of French Open, Wimbledon
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

[1/3] Tennis - WTA 500 - Stuttgart Open - Porsche Arena, Stuttgart, Germany - April 18, 2023 Britain's Emma Raducanu in action during her round of 32 match against Latvia's Jelena Ostapenko REUTERS/Angelika WarmuthMay 3 (Reuters) - Britain's Emma Raducanu will miss the French Open and Wimbledon while she recovers from surgery on her wrists and ankle, the former U.S. Open champion said on Wednesday. "I'm having a minor procedure done on both hands to resolve the issues. I'm disappointed to share that I will be out for the next few months and while I am at it will have another minor procedure that is due on my ankle." Raducanu, who has struggled with form and fitness since her fairytale run to the U.S. Open title as an 18-year-old qualifier in 2021, withdrew from the Madrid Open last month citing an injury to her right hand. She also lost in the first round in Miami and Stuttgart and was beaten in straight sets by Coco Gauff in the second round of the Australian Open.

☆ Chinese tourists flock to gambling hub Macau for Labour Day holiday
▼ + stars: | 2023-04-30 | by ( Joyce Zhou | ) www.reuters.com time to read: +3 min

[1/5] A view of visitors in front of the ruins of Saint Paul's during Labour Day holiday in Macau, China, April 30, 2023. REUTERS/Lam YikMACAU, April 30 (Reuters) - Hundreds of thousands of mainland Chinese visitors have descended on the world's biggest gambling hub of Macau for the Labour Day holiday, packing tightly into its narrow cobblestone streets and placing bets in its glitzy casinos. Coco Li, a 42-year-old woman from Hubei province who was visiting with her husband, said they chose to come to Macau because travel rules had relaxed. "We've been actively working with the Macau government on our labour requirements," the company said. Reporting by Joyce Zhou in Macau; Writing by Farah Master; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ 10 fascinating theme parks that have closed forever
▼ + stars: | 2023-04-19 | by ( Joe Yogerst | ) edition.cnn.com time to read: +9 min

In April, we’re taking a thrilling ride into the world of theme parks. “We think of amusement parks as vibrant, colorful, noisy, cheerful places,” says Jim Futrell of the National Amusement Park Historical Association. Pripyat Amusement Park (Ukraine)The Pripyat Amusement Park was built right before the Chernobyl disaster. Yongma Land (South Korea)Once in a blue moon, abandoned theme parks find new life by adopting totally new functions. Faced with increased competition from Orlando’s modern theme parks, Cypress Gardens closed in 2009 and was eventually absorbed into LEGOLAND Florida.

☆ Japan's SMFG is first global bank to sell AT1 bonds since C.Suisse wipeout
▼ + stars: | 2023-04-19 | by ( Junko Fujita | ) www.reuters.com time to read: +2 min

AT1 bonds - the riskiest tranche of a bank's bonds also known as "contingent convertibles" or "CoCo" bonds - can be converted into equity or written off if a bank's capital level falls below a certain threshold. SMFG sold the bonds in two tranches, in 89 billion yen ($662.50 million) five-year notes, and 51 billion yen 10-year bonds. The 89 billion yen issuance carries a coupon rate of 1.879% for the initial five years and two-month period, a regulatory filing showed. "In Japan, where spreads over corporate bonds are thin, the terms for these AT1 bonds were reasonably good, provided that the banking sector is credible," said Pictet's Otsuki. Japanese banks' AT1 bonds had been configured in a way the value is secured even if the government is involved in restructuring, and SMFG's new issues are seen to have the same features, she said.

☆ SMFG becomes first big Japan bank to sell AT1 bonds since Credit Suisse's debt wipeout
▼ + stars: | 2023-04-19 | by ( Junko Fujita | ) www.reuters.com time to read: +2 min

SMFG priced the bonds in two tranches, in 89 billion yen ($662.50 million) five-year notes, and 51 billion yen 10-year bonds, whose terms market players said were attractive. "In Japan, where spreads over corporate bonds are thin, the terms for these AT1 bonds were reasonably good, provided that the banking sector is credible," said Nana Otsuki, senior fellow at Pictet Japan. Swiss regulator FINMA determined that Credit Suisse's AT1 bonds would be wiped out, a decision that rocked global credit markets. AT1 bonds - known as "contingent convertibles" or "CoCo" bonds - can be converted into equity or written off if a bank's capital level falls below a certain threshold. The 51 billion yen one would yield 2.180% for the first 10 years and two months.

☆ Scolding Isn’t a Foreign Policy
▼ + stars: | 2023-04-18 | by ( Walter Russell Mead | ) www.wsj.com time to read: +1 min

Internationally, it was another grim week for the Biden administration, the United States of America, and world peace. Indian officials reported that China is supporting the development of a military listening post on Myanmar’s strategic Great Coco Island in the Bay of Bengal. Farther south, a Sudanese military faction backed by Russia’s Wagner Group battles for control of Africa’s third-largest nation. The usual spinners and makeup artists are doing their best to make the disorderly unraveling of the American-led world order look like a visionary triumph of enlightened foreign policy, but former Treasury Secretary Larry Summers expressed a more cogent view. What we get from the United States is a lecture.’ ”

☆ U.S. finishes Billie Jean King Cup qualifying unbeaten
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +4 min

Each best-of-five series consists of two singles matches on the first day, then the reverse singles matches followed by a doubles match on the second day. The doubles match pitting Juvan and Zidansek against Irina Bara and Monica Niculescu was suspended at 3-3 in the first set. Jule Niemeier posted a three-set win over Beatriz Haddad Maia, and then Anna-Lena Friedsam lost only one game in defeating Laura Pigossi. Kazakhstan's Elena Rybakina handed Poland's Magda Linette her second loss in two days to clinch the 3-1 series win in Astana, Kazakhstan. After Fernandez's three-set win over Ysaline Bonaventure, Belgium's Greet Minnen again knotted the match with a three-set win over Katherine Sebov.

India is monitoring a strategically located island in the Bay of Bengal over concerns China could be involved in a buildup of infrastructure there, including an expanded airstrip, aircraft hangars, a pier and a dome that protects radar equipment, Indian security officials said. Satellite images captured over a decade show the gradual buildup on Myanmar’s Great Coco Island, which lies north of an archipelago that hosts a significant Indian military presence, the Andaman and Nicobar Islands. In addition to the new infrastructure, equipment is visible at the site that could be used to track aircraft, one of the officials said.

☆ 19 Unique Gifts for Women Who Have Everything
▼ + stars: | 2023-04-14 | by ( ) www.wsj.com time to read: +10 min

“There’s something a little decadent about wearing a matching cashmere set when you’re traveling by plane, for example,” Deyette notes. Note: The earrings can also be purchased as singles if you or your recipient like to mix and match. Constructed of 100% Australian sheepskin upper and footbed, they feel incredibly luxe and confer the benefit of breathable, moisture-wicking materials. “I love lighting this candle when I take a bath or just want to relax with a good book,” she says. It comes with a 72-ounce pitcher and an ice-crushing blade, as well as two single-serve blender cups for beverages on the go.

☆ A judge warned Trump about comments that could 'jeopardize the safety or well-being' of others. 6 hours later, he attacked the judge, the judge's wife, and the judge's daughter.
▼ + stars: | 2023-04-05 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Donald Trump started attacking the family of the judge presiding over his indictment in New York. Trump called Judge Juan Merchan and his family "Trump-hating" on Tuesday evening. Hours before, the judge warned him not to make remarks that could jeopardize the safety of others. Trump's comments blasting Merchan came six hours after Merchan warned the former president not to make comments likely to "jeopardize the safety or well-being of any individuals." That didn't stop Trump from slamming Merchan and his family hours later.

☆ Mitsubishi UFJ to postpone AT1 bond issuance in Credit Suisse fallout
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +1 min

TOKYO, April 3 (Reuters) - Mitsubishi UFJ Financial Group Inc (8306.T) will postpone the issuance of Additional Tier-1 (AT1) bonds to mid-May or later from late April, a spokesperson said on Monday, after the Swiss decision to wipe out Credit Suisse bonds rattled the market. Mitsubishi UFJ decided on the postponement taking into account investor appetite and market conditions, the spokesperson said. Sources have said Mitsubishi UFJ and Sumitomo Mitsui Financial Group Inc (8316.T), may put April issuance on hold amid the volatility. As part of the rescue of Credit Suisse (CSGN.S) by its rival UBS (UBSG.S), Swiss regulator FINMA determined that Credit Suisse's AT1 bonds with a notional value of 16 billion francs ($17.35 billion) would be wiped out, a decision that stunned global credit markets and angered many holders. Reporting by Ritsuko Shimizu and Makiko Yamazaki; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

☆ Australia would not allow AT1 debt security holder wipe-out -minister
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, March 28 (Reuters) - Australian law would not allow regulators to wipe out AT1 tier credit holders while shareholders received some compensation as occurred during the Swiss government-brokered takeover of Credit Suisse by UBS, the assistant treasurer said on Tuesday. It's an entirely different set of circumstances here in Australia," Assistant Treasurer Stephen Jones told the Australian Financial Review Banking Summit in Sydney. Swiss regulators wrote down 16 billion Swiss francs ($17.5 billion) of Credit Suisse (CSGN.S) bonds, known as Additional Tier 1 or AT1 debt, to zero as part of a forced rescue merger with UBS (UBSG.S). Under the deal, holders of Credit Suisse AT1 bonds received nothing, while shareholders, who usually rank below bondholders in terms of who gets paid when a bank or company collapses, will receive $3.23 billion. AT1 bonds - a $275 billion sector also known as "contingent convertibles" or "CoCo" bonds - act as shock absorbers if a bank's capital levels fall below a certain threshold.

☆ Potapova upsets Gauff in third-round Miami thriller
▼ + stars: | 2023-03-25 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

March 25 (Reuters) - Russian Anastasia Potapova produced some of her best tennis to upset American Coco Gauff 6-7(8) 7-5 6-2 in a third-round thriller at the Miami Open on Saturday. "I had this belief in me that I can do this, that I just wanted to fight through and just to show my best tennis and not focus on the score," she told the Tennis Channel. Up 5-2 in the first set, it looked as though it might be an easy day for Potapova. But world number six Gauff turned the tables when she converted break point chances in the ninth and 11th games and closed the tiebreak with a lethal backhand. She failed to earn a single break point as Potapova dropped only one first-serve point and won the final five games.

☆ Bond giants Pimco and Invesco are facing losses of hundreds of millions on rotten Credit Suisse debt
▼ + stars: | 2023-03-25 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Bond giants Pimco and Invesco lost hundreds of millions of dollars, according to data from Bloomberg. They held Credit Suisse's AT1 bonds – which were marked down to zero by the Swiss regulator a week ago. FINMA, which is Switzerland's top financial regulator, marked the value of all Credit Suisse AT1s down to zero when UBS's takeover of the struggling bank was confirmed. Pimco had $807 million worth of Credit Suisse CoCos written off when the bank was rescued, according to Bloomberg – while Invesco held around $370 million worth of AT1 debt at the time of the takeover. Here's what you need to know about AT1 bonds.

☆ Take Five: And let there be calm
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +5 min

LONDON, March 23 (Reuters) - At the incredible end to the first quarter for financial markets, rattled by bank turmoil, some stability will be much hoped for in coming days. SNB chief Thomas Jordan reckons the next two weeks will be vital to securing UBS's Credit Suisse takeover. Market cap of US regional banks included in the S&P 500 regional bank index3/ DID YOU SAY AT1? Potential legal action is also possible after Swiss authorities ruled that holders of Credit Suisse AT1 bonds would get nothing in the deal. And U.S. and European banks turmoil show how quickly a crisis can surface, giving Ueda even more reason for caution.

TikTok was the top downloaded app in the United States in 2021 and 2022, according to data from analytics firm Sensor Tower. And legacy news organizations like the 176-year-old Associated Press have recently joined TikTok to reach new audiences. Goodwin told CNN that more than 90% of her orders currently come from people who discover her business through TikTok. “If it were to get banned, I would see business plummeting,” Goodwin told CNN. (Laurie Gomez)At a time when major tech giants including Meta and Twitter are slashing staff, TikTok is still hiring American engineers.

☆ Swiss CoCo litigation may have a broader payoff
▼ + stars: | 2023-03-23 | by ( Neil Unmack | ) www.reuters.com time to read: +4 min

LONDON, March 23 (Reuters Breakingviews) - Credit Suisse’s (CSGN.S) CoCos are shaping up to be the bondholder litigation case of the century. Investors are in uproar over the government’s decision to wipe out Credit Suisse’s Additional Tier 1 securities over the weekend, while preserving 3 billion Swiss francs for shareholders. They can argue that state support for Credit Suisse did not represent a viability event because the authorities injected liquidity but not capital. Credit Suisse’s AT1 bonds are currently trading at around 6% of par value, rather than the zero the Swiss authorities declared them to be worth. Some Credit Suisse AT1 bondholders are seeking legal advice.

☆ Swiss CoCo shakeout may yet help bank regulators
▼ + stars: | 2023-03-22 | by ( Neil Unmack | ) www.reuters.com time to read: +3 min

LONDON, March 22 (Reuters Breakingviews) - Switzerland’s forced merger of Credit Suisse (CSGN.S) with UBS (UBSG.S) has caused a real stink. European regulators on Monday mobilised to calm debt investors after Swiss authorities chose to write off 16 billion Swiss francs of Credit Suisse’s Additional Tier 1 CoCos. Both the Bank of England and European regulators pledged on Monday to respect the bank rescue hierarchy that says shareholders should lose money before debt. A case in point: only last year the already creaking Credit Suisse chose to redeem a bond. Follow @Unmack1 on TwitterCONTEXT NEWSPrices of contingent capital securities, a kind of junior ranking loss-absorbing bank debt, fell after bonds issued by Credit Suisse were wiped out following its takeover by UBS.

☆ People are right to revise their opinions in some AT1s and 'CoCo' bonds: Financial services firm
▼ + stars: | 2023-03-21 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeople are right to revise their opinions in some AT1s and 'CoCo' bonds: Financial services firmMichael Ashley Schulman of Running Point Capital explains why it has not been active in AT1s and "CoCo" bonds.

March 20 (Reuters) - Shares of U.S. lender First Republic tumbled nearly 50% on Monday on fears it will need a second rescue to stay afloat, bucking a broader rally in bank shares driven by UBS Group's state-backed takeover of Credit Suisse. "First and foremost, the Credit Suisse, UBS merger certainly takes a lot of stress out of the global banking system." The 3 billion Swiss franc ($3.2 billion) deal for the troubled Swiss bank - which was once worth more than $90 billion - was engineered by Swiss regulators and announced on Sunday. European bank shares (.SX7P) rebounded from recent losses, while on Wall Street the S&P 500 banks (.SPXBK) index recovered 0.6%. [1/2] Buildings of Swiss banks UBS and Credit Suisse are seen on the Paradeplatz in Zurich, Switzerland March 20, 2023.

The Credit Suisse rescue has shaken the European banking sector and fears of wider fallout remain. Under the Credit Suisse rescue deal, 16 billion Swiss francs worth of Credit Suisse Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator. Overall, bank debt remained under pressure, with the cost of insuring exposure to the debt rising in the credit default swaps (CDS) market. CONTAGION RISKThe wipeout of AT1 bonds in the Credit Suisse rescue has alerted fixed income investors to the risks of investing in these instruments. At Credit Suisse, the bank's AT1 bonds were bid as low as 1 cent on the dollar on Monday as investors braced for the wipeout.

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