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☆ Factbox: Lawsuits lodged over state-backed Credit Suisse takeover
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +2 min

April 21 (Reuters) - Several lawsuits have been filed over the terms of last month's emergency deal to save Swiss lender Credit Suisse (CSGN.S) by selling it to its bigger rival UBS (UBSG.S). Around 16 billion Swiss francs of Additional Tier 1 (AT1) Credit Suisse debt was written down to zero, in a shock to markets. But it has declined to name claimants or provide an ongoing tally of those lodged by bondholders or their lawyers. UNITED STATESOne of the first proposed U.S. class action s against Credit Suisse over alleged false or misleading statements pre-dates the rescue. Credit Suisse declined to comment.

☆ Credit Suisse bondholders sue Swiss authorities
▼ + stars: | 2023-04-21 | by ( ) edition.cnn.com time to read: +2 min

Investors representing more than 4.5 billion Swiss francs ($5 billion) of Credit Suisse bonds have sued the Swiss financial regulator over its decision to wipe out their investments during last month’s emergency government-orchestrated takeover. Law firm Quinn Emanuel Urquhart & Sullivan, which is representing the bondholders, said Friday the move was the first in a series of steps to seek redress for clients it said had been unlawfully deprived of their property rights during the takeover of Credit Suisse (CS) by bigger rival UBS (UBS). The appeal against FINMA, the Swiss Financial Market Supervisory Authority, which ordered the writedown, was filed on April 18 in the Federal Administrative Court in St Gallen, north-east Switzerland. “FINMA’s decision undermines international confidence in the legal certainty and reliability of the Swiss financial center,” said Thomas Werlen, Quinn Emanuel’s Swiss managing partner. The Federal Administrative Court said it was still receiving complaints but declined to name claimants or comment on how many had been lodged by bondholders or their lawyers.

It is the first major lawsuit in the public domain to be filed over the Swiss decision to wipe out around $18 billion of Credit Suisse's Additional Tier 1 (AT1) debt during the 3 billion Swiss franc all-share rescue deal last month, which stunned markets and alerted litigators. The appeal against FINMA, the Swiss Financial Market Supervisory Authority that ordered the writedown, was filed on April 18 in the Federal Administrative Court in St Gallen, north east Switzerland. "FINMA's decision undermines international confidence in the legal certainty and reliability of the Swiss financial center," said Thomas Werlen, Quinn Emanuel's Swiss managing partner. FINMA declined to comment and Credit Suisse did not immediately respond to a Reuters request for comment. ($1 = 0.8941 Swiss francs)Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ MLB roundup: Phillies score 9 in first, bash 23 hits to rout Reds
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +11 min

Lopez allowed two runs and seven hits in six innings. Both were 2-for-4 as Boston finished with seven hits. Alcantara (1-2) allowed seven hits and five runs (four earned) in six innings for the Marlins. Alek Manoah (1-1) allowed seven runs, nine hits and four walks in 4 2/3 innings for the Blue Jays. Castillo allowed two hits, didn't walk a batter and struck out nine over seven innings.

☆ MLB roundup: Solo HR sends Rays to 10-0
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +11 min

Muncy also singled, all after Mookie Betts had led off the game with his second homer of the season for the Dodgers, who snapped a three-game losing streak. Reds starter Graham Ashcraft allowed two runs on six hits in six innings with seven strikeouts and three walks. Ryan Mountcastle drilled a two-run homer in the first inning and Austin Hays added a solo shot in the sixth. Alvarez drove in two runs to boost his major-league-leading RBI total to 16, plating a pair in the second inning with a single. Jake Cave hit a solo homer and double while Nick Castellanos added three hits and three RBIs.

☆ 'The first bank crisis of the Twitter generation': The pressure on banks is very different from 2008
▼ + stars: | 2023-03-27 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

It is "unlikely" that European banks will undergo anything as serious as in 2008, according to economists. But a banking crisis today would look very different from 15 years ago thanks to social media, online banking, and huge shifts in regulation. This is "the first bank crisis of the Twitter generation," Paul Donovan, chief economist at UBS Global Wealth Management, told CNBC earlier this month, in reference to the collapse of Credit Suisse . watch nowRegulators shuttered Silicon Valley Bank on March 10 in what was the biggest U.S. bank collapse since the global financial crisis in 2008. Risk in the banking system today is significantly less than it has been at any time over the last 20 or 30 years.

☆ The US is bleeding tech workers to other countries — it needs to move fast or risk falling behind.
▼ + stars: | 2023-03-23 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

The US is losing tech workers to other countries. And so, many tech workers are opting to move and work there instead of the US. Plus, many of these countries are making their immigration systems easier for tech workers. My teammates Emilia David and Paayal Zaveri break down how the US is on the brink of losing an entire generation of tech workers. And it showed that Boomers and Gen Z both love many of the same cars, including the Toyota RAV4.

☆ Analysis: Credit Suisse collapse threatens Switzerland's wealth management crown
▼ + stars: | 2023-03-22 | by ( John Revill | ) www.reuters.com time to read: +6 min

[1/3] Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland March 20, 2023. Switzerland's credibility as a stable, predictable country had been upended by moves like the decision to wipe out the holdings of Credit Suisse bondholders, he said. Under the takeover deal, holders of Credit Suisse AT1 bonds will get nothing, while shareholders, who usually rank below bondholders in compensation terms, will receive $3.23 billion. "In that sense I also see a prosperous future for the financial centre because we have hundreds of very well capitalised banks and very successful wealth management and asset management banks." Reuters Graphics Reuters GraphicsReuters GraphicsOthers were more skeptical about the future, highlighting a reluctance to confront mistakes at Credit Suisse or take responsibility for the aftermath.

The Swiss cabinet held an emergency meeting about the central bank's move on Thursday but gave no public statement after, with most politicians, including Finance Minister Karin Keller-Sutter, tight-lipped. Greens lawmaker Gerhard Andrey said managers should take responsibility and Switzerland should look at its regulations, with the Credit Suisse debacle putting the country "in a very difficult situation". That Credit Suisse has problems has been known for a long time," said Martin Staub speaking in central Zurich. The financial sector makes up about 9% of Swiss gross domestic product, according to Finance Swiss, and employs 5.5% of the workforce. "The Credit Suisse crisis is negative for Switzerland, but not enough to damage the reputation of Switzerland on its own.

☆ A treasure trove of over 500 retro Apple products is being auctioned off from one of the biggest collections in the world
▼ + stars: | 2023-02-27 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +1 min

Over 500 Apple computers and products that span from 1977 to 2008 are going to auction next month. The collection, one of the biggest in the world, is called "The Hanspeter Luzi Vintage Apple Archive," and belonged to Swiss Apple collector Hanspeter Luzi. Steve Jobs (left), John Sculley (center), and Steve Wozniak unveil the new Apple II computer in San Francisco in 1984. As a teacher, Luzi used computers as a teaching aid for his students. Before starting his Apple collection, Luzi collected vintage sewing machines that became the foundation for the Sammlung Albrecht Mey sewing machine museum in Germany.

☆ Nearly a year on from the supposed Russian exodus, most major companies have yet to withdraw
▼ + stars: | 2023-01-31 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

PATRIK STOLLARZ | AFP | Getty ImagesAfter Russian troops invaded Ukraine in February 2022, companies across the G-7 major economies and the European Union announced plans to cease business operations in Russia. The report published earlier this month documented a total of 2,405 subsidiaries owned by 1,404 EU and G-7 companies that were active in Russia at the time of the first military incursion into Ukraine. Of the EU and G-7 companies remaining in Russia, the research found that 19.5% were German, 12.4% were American owned, and 7% were Japanese multinationals. Various companies told Barclays that there were a host of challenges to fully divest. "There have also been suggestions that the assets (including intellectual property) of companies that leave Russia will be nationalised."

☆ Worried about a gap in your resume? This small tweak could result in more job callbacks
▼ + stars: | 2023-01-04 | by ( Jennifer Liu | ) www.cnbc.com time to read: +3 min

Worried about a career gap in your resume? Turns out, there's a pretty easy workaround that's been scientifically proven to lead to more job callbacks. Previous research has shown that hiring managers discriminate against candidates who have a break in their resume. Researchers were focused on seeing the impact for working mothers and tested resumes with no career break, resumes with an unexplained career break, and resumes with a break and brief explanation that they left the labor force to care for children. The new tenure format "draws attention to the applicants' job experience while also obfuscating employment gaps by omission."

☆ Portugal ready to let their football do the talking against Ghana
▼ + stars: | 2022-11-22 | by ( William Schomberg | ) www.reuters.com time to read: +3 min

DOHA, Nov 22 (Reuters) - Portugal will be keen to let their football do the talking when they face Ghana in their World Cup opener on Thursday amid controversy over Cristiano Ronaldo's comments about Manchester United and tensions between the squad and the media. But Ghana - who reached the World Cup quarter-finals in 2016 - arrived on the Arabian Peninsula with wind their sails too after beating Switzerland 2-0 in a friendly. No problems," five-times Ballon D'Or winner Ronaldo said on Monday. read moreHe led Portugal to triumph at Euro 2016 but World Cup glory has eluded him and Qatar represents his last chance. The teams met at the 2014 World Cup in Brazil when Portugal won 2-1 thanks to a late winner by Ronaldo.

☆ Ghana name uncapped pair who have impressed in Europe
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

Nov 14 (Reuters) - Kamal Sowah’s form for Club Brugge in the Champions League has won him a World Cup call-up for Ghana after the uncapped striker was on Monday included in the country’s squad for Qatar. The 22-year-old was a surprise selection as coach Otto Addo named his 26-man squad for the tournament, where the Black Stars face Portugal, South Korea and Uruguay in Group H.Sowah has impressed as the Belgian club reached the last 16 of the Champions League, knocking out Atletico Madrid and Bayer Leverkusen in the process. There was also a first call up for midfielder Salis Abdul Samed, 22, who has been a regular for Racing Lens this season as they have moved to second in the French Ligue 1 standings. The squad will be captained by Dede Ayew, who was part of the team that reached the quarter-finals in South Africa in 2010 – only the third time an African nation has reached the last eight of a World Cup. Writing by Mark Gleeson in Cape Town; Editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ ‘Threads of Power: Lace From the Textilmuseum St. Gallen’ Review: Webs of Influence
▼ + stars: | 2022-10-20 | by ( Laura Jacobs | ) www.wsj.com time to read: 1 min

New YorkHave you ever pondered the ruff? That snowy circular collar made of starched cambric, fluted and trimmed with lace? During the Elizabethan and Jacobean eras ruffs appeared endlessly in painted portraits, a sort of rose window rendered with Euclidean precision under noble chins. Also called a “millstone collar,” it served up the distinguished head on a pristine plate. To see an actual 17th-century ruff is a treat, and at the Bard Graduate Center it is just one of many wonders.

☆ MLB roundup: Brewers' Kolten Wong swats 3 HRs vs. Reds
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +8 min

Sep 22, 2022; Cincinnati, Ohio, USA; Milwaukee Brewers second baseman Kolten Wong (16) hits a two-run home run in the second inning against the Cincinnati Reds at Great American Ball Park. Aaron Judge remained stuck at 60 homers, walking three times and reaching base for the 21st straight game. The Braves, who lost their second straight game, fell 1 1/2 games back of the idle New York Mets in the National League East. Cubs 3, Pirates 2Michael Hermosillo's RBI single in the seventh inning provided the deciding run and rookie Hayden Wesneski pitched an immaculate inning visiting Chicago downed Pittsburgh. Bobby Witt Jr. recorded his third straight multi-hit performance and Salvador Perez drove in a run for the seventh straight game for the Royals.

☆ Boxing legend Wladimir Klitschko is fighting on the front line to defend Ukraine – here's how investing legends Warren Buffett and Ray Dalio inspired the head of his $100 million family office
▼ + stars: | 2022-03-17 | by ( George Glover | ) www.businessinsider.com time to read: +5 min

Insider spoke to Kostya Kovalchuk, the investing chief of Klitschko's $100 million family office. KLIWLA allocates around 35% of its $100 million assets under management to Ukraine, and invests the other 65% internationally. "Wladimir is optimistic, very entrepreneurial and always interested in meeting new people", Kovalchuk told Insider. Value investingKovalchuk allocates Klitschko's $100 million portfolio through specialist managers who better understand tech and commodities. Commodities also play a major role in Klitschko's $100 million portfolio.

☆ La Muzeul de Artă al Moldovei va avea loc expoziția „100 cele mai bune afișe” a anului 2019
▼ + stars: | 2020-12-15 | by ( Onixmedia Srl | ) diez.md time to read: +3 min

La Muzeul de Artă al Moldovei va avea loc expoziția „100 cele mai bune afișe” a anului 2019Pe 16 decembrie curent, la ora 16.00, în incinta Muzeului Național de Artă al Moldovei va fi inaugurată expoziția „100 cele mai bune afișe” din Germania, Austria și Elveția, ediția 2019. Istoria concursului începe în anul 1966, când pentru prima dată în Republica Democrată Germană (RDG) au fost desemnate și expuse cele mai bune afișe ale anului. În 1980 concursului îi este atribuit titlul de „100 Beste Plakate”. Selecția anului 2019 cuprinde 100 cele mai bune afișe: 45 din Germania, 52 – Elveția, trei din Austria. Expoziția „100 cele mai bune afișe 19” este organizată la Chișinău de către Centrul Cultural German Akzente/Goethe-Zentrum în colaborare cu Muzeul Național de Artă al Moldovei, cu sprijinul Goethe-Institut România, fiind deschisă până pe 20 ianuarie 2021.

Persons: St ., Goethe Organizations: Moldovei, German, Institut, Facebook Locations: Moldovei, Germania, Austria, Elveția, Republica Democrată Germană, RDG, Berlin, Essen, St, St . Gallen, Lucerna, Seul, Viena, Chișinău, Institut România

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