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The Latest Breaking News from Credit Suisse

Here's 3 Top Stocks At Dirt-Cheap Prices

These top stocks all have good fundamentals and constructive charts at cheap prices. Earnings growth has outpaced their stock prices.

Investors Business Daily

UBS reaps windfall gain from Credit Suisse deal after Swiss bank buys rival for $29 billion discount

UBS paid far too little for the assets of its cross-town rival when it agreed to a shotgun wedding for the bargain basement price of just $3.4 billion.

Fortune

UBS reports huge 2Q profit skewed by Credit Suisse takeover, foresees $10B in cost cuts

Swiss bank UBS announced plans to save $10 billion in costs as it moves ahead with “full integration” of longtime rival Credit Suisse’s domestic operations, releasing its first earnings report since the government-orchestrated merger to help stave off a possible global financial meltdown

The Independent UK

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Jefferies is hiring 10 investment bankers for India expansion

NEW DELHI: Jefferies Financial Group Inc is hiring about 10 investment bankers in India as the US advisory firm looks to beef up its operations in the world’s most populous nation, according to people familiar with the matter.

The Times of India

‘Richcession’ hits as 3.5 million millionaires lost their status last year

The wealth gap between the richest Americans and the bottom 50% narrowed in 2022, according to a new report.

Fortune

$11.3 trillion in global wealth evaporated last year in the first drop since the Global Financial Crisis. But the next few years look ‘brighter’

Worldwide wealth fell 2.4% or $11.3 trillion last year to $454.4 trillion, according to a new UBS and Credit Suisse report.

Fortune

UBS to pay $1.44 billion to settle 2007 financial crisis-era mortgage fraud case, last of such cases

UBS will pay U.S. authorities $1.44 billion to settle the last lingering legal case over Wall Street’s role in the housing bubble of the early 2000s, which ultimately led to the 2008 financial crisis and Great Recession

The Independent UK

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‘Like horse trading’: Credit Suisse retail investors challenge UBS takeover

Fresh legal claim planned by group of almost 1,000 shareholders to rushed rescue in March

The Guardian - UK

Indexes Mixed After Economic Data; Warren Buffett Stock Rises On Big Win

The Dow Jones rose as the Nasdaq fell. Retail stocks are in focus. Walmart rose on an analyst upgrade. Target and Walmart report earnings next week.

Investors Business Daily

Markets Today: Stocks Fall on a Hot U.S. July PPI

Morning Markets September E-Mini S&P 500 futures (ESU2 3) this morning are down -0.25%, and Sep Nasdaq 100 E-Mini futures (NQU2 3) are down -0.47%. Stock indexes this morning are moderately lower. Concerns that weakness in China’s economy will curb global growth prospects are weighing on stocks. Losses in stock...

Barchart

UBS ends billions in taxpayer-funded support that paved way for Credit Suisse takeover

Swiss taxpayers are off the hook from a government-engineered rescue plan that doled out billions to help UBS, the country’s largest bank, take over its ailing rival Credit Suisse

The Independent UK

Credit Suisse Bank Investigation Files To Remain Confidential For 50 Years

Swiss historians express concerns over extended access delay to crucial documents

Zenger

Shopify Payments Monetization: Credit Suisse’s Perspective On Revenue Modelling And Future Upside

Credit Suisse analyst Timothy Chiodo maintained Shopify Inc (NYSE: SHOP) with a Neutral and raised the price target from $53 to $55

Zenger

Credit Suisse Analyst Praises IBM’s Revenue Guidance, M&A Focus

Shannon Cross believes IBM is well-positioned to become a leader in artificial intelligence.

Zenger

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Zenger

Swiss Taxpayers Spared From Funding UBS’ Rescue Of Credit Suisse

UBS to handle potential losses of CHF 5 billion, Swiss government to cover next CHF 9 billion.

The Guardian - UK

UBS ‘preparing to cut more than half of inherited Credit Suisse workforce’

Between 30,000 and 35,000 staff likely to leave combined group this year, according to report

Bangkok Post

UBS to cut 35,000 jobs after Credit Suisse rescue

GENEVA: Swiss banking group UBS plans to cut 35,000 jobs at Credit Suisse -- more than half its workforce -- as part of the emergency rescue takeover of its rival in March, according to a report by Bloomberg News on Tuesday.

Bloomberg

UBS Preparing to Cut Over Half of Credit Suisse Workforce

UBS Group AG is planning to cut more than half of Credit Suisse Group AG’s 45,000-strong workforce starting next month as a result of the bank’s emergency takeover.

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Bloomberg

African Official to be Extradited to US for Role in Bond Fraud Scandal Involving Credit Suisse

Mozambique’s former Finance Minister, Manuel Chang, is expected to be extradited to New York in July to face US charges over his role in a $2 billion bond fraud scandal that embroiled Credit Suisse Group AG, a US prosecutor said Monday.

The Independent UK

Swiss central bank urges review of 'too big to fail' bank safeguards after Credit Suisse debacle

Switzerland’s central bank says it's time to review rules aimed at preventing disastrous bank collapses

Birmingham Post

Bristol interior design firm wins multi-million pound contract to 'transform' city centre complex

Paramount has been tasked with providing a "high-spec refurbishment" for global investment bank Credit Suisse

Bloomberg

Five Key Charts to Watch in Global Commodities This Week

This week’s edition has a heavy focus on food, with rising beef costs weighing on the start of barbecue season in the Northern Hemisphere, ongoing tensions over the safe-grain corridor in the Black Sea and tightening supplies of rice — a staple in Asia — due to food security concerns…

WEKU

UBS finishes takeover of Credit Suisse in deal meant to stem global financial turmoil

UBS said Monday that it has completed its takeover of embattled rival Credit Suisse in a bid to safeguard Switzerland's reputation as a global financial center and choke off market turmoil.

The Independent UK

UBS completes takeover of Credit Suisse in deal meant to stem global financial turmoil

UBS says it has completed its takeover of embattled rival Credit Suisse

Evening Standard

FTSE 100 Live: City expects interest rates to stay higher for longer as gilts surge again; shares fade

Gilt yields rose closer to mini-Budget levels today ami new fears the Bank of England will keep interest rates higher for longer.

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