By Shankar Ramakrishnan, Stefania Spezzati and Sumeet Chatterjee (Reuters) -At least four major banks, including Societe Generale SA and Deutsche Bank AG, have put restrictions on their trades involving Credit Suisse Group AG or its securities, according to five sources with direct knowledge of the matter. Credit Suisse declined to comment. The bank has previously said…
By Stefania Spezzati and Oliver Hirt LONDON/ZURICH (Reuters) -Credit Suisse AG will be holding meetings over the weekend to assess scenarios for the bank as it struggles to regain confidence from the market, people with knowledge of the matter told Reuters on Friday. The meetings will include teams of the chief financial officer, the people…
(Reuters) -WeWork Inc said on Friday it had struck deals to cut debt by about $1.5 billion and extend the date of some maturities, in a bid to preserve cash as the flexible-workspace provider feels the heat of mass layoffs on its business. The company, which offers workstations, private offices and customized floors, had enjoyed…
By Shashwat Chauhan (Reuters) -Canada’s main stock index fell on Friday, dragged down by losses in financials as fears of a global banking meltdown continued to worry investors, while lower oil prices weighed on energy stocks. At 10:24 a.m. ET (1424 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 197.19 points, or 1.01%,…
By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON (Reuters) – Hedge funds are watching growing U.S.-Chinese geopolitical tensions and have spotted ways to trade them. U.S. authorities on Thursday told TikTok’s Chinese owners to divest their stakes in the popular video app or face a possible U.S. ban, Reuters reported. Britain, this week, described…
By Amanda Cooper LONDON (Reuters) -The dollar slipped on Friday after top U.S. power brokers including the government and banks threw a lifeline to struggling regional lender First Republic Bank, which returned some confidence to investors. The rescue of First Republic on Thursday boosted risk appetite globally on Friday as concerns about global banks eased,…
(Reuters) – European Central Bank supervisors see no contagion for euro zone banks from recent turmoil, a source said on Friday, after U.S. lenders threw First Republic Bank a $30 billion lifeline and tapped record amounts from the Federal Reserve. Large U.S. banks injected the funds into the San Francisco-based bank on Thursday, swooping in…
By Foo Yun Chee BRUSSELS (Reuters) – Microsoft Corp has offered remedies in an attempt to gain EU antitrust approval for its $69 billion acquisition of Activision, a European Commission filing showed on Friday. The EU competition enforcer, which did not provide details in line with its policy, will now seek feedback from rivals and…
By Balazs Koranyi, Pete Schroeder and Tom Westbrook (Reuters) – European Central Bank supervisors met to tackle growing cracks in the banking system on Friday after a $30 billion lifeline for U.S. lender First Republic Bank eased fears of its imminent collapse. Large U.S. banks on Thursday swooped in to rescue the San Francisco-based bank,…
ZURICH (Reuters) – Credit Suisse shares traded 1.8% higher on the Swiss stock exchange on Friday before the highly volatile stock later gave back some of its gains. The stock, which plunged to 1.55 Swiss francs on Wednesday, rose to 2.087 francs from Thursday’s closing price of 2.022 francs. It later gave back the gains…
