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August 2, 2021

Credit Suisse Group AG

Credit Suisse investigation into Archegos scandal reveals multiple failings but no ‘fraudulent or illegal conduct’

CNBC
CNBC – For more and to sign up click here Credit Suisse bank. NurPhoto | NurPhoto | Getty Images LONDON — A Credit Suisse investigation said Thursday that the bank failed “to effectively manage risk” when doing business with the collapsed U.S. hedge fund Archegos. The bank’s results have been......

What to look out for as Europe’s earnings season begins, according to the experts

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CNBC – For more and to sign up click here Bull and bear sculptures in front of the German stock exchange in Frankfurt, Germany. Kai Pfaffenbac | Reuters Europe’s corporate earnings season began in earnest last week, with analyst consensus projecting a 140% year-on-year increase in earnings per share for......

Apple reportedly wants to boost iPhone production by as much as 20% after last year’s 5G super cycle

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CNBC – For more and to sign up click here People walk past an Apple retail store on July 13, 2021 in New York City. Angela Weiss | AFP | Getty Images Apple is asking suppliers to ramp up production of its next-generation iPhones by 20%, according to Bloomberg. The......

Stocks making the biggest moves midday: Didi, Diamondback Energy, Whirlpool and more

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CNBC – For more and to sign up click here A navigation map on the app of Chinese ride-hailing giant Didi is seen on a mobile phone in front of the app logo displayed in this illustration picture taken July 1, 2021. Florence Lo | Reuters Check out the companies......

Credit Suisse CEO says sustainable investing no longer means lower returns

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CNBC – For more and to sign up click here Mischa Keijser | Cultura | Getty Images The CEO of banking giant Credit Suisse told CNBC that the coronavirus pandemic had “substantially accelerated the trend towards ESG and sustainability” and sought to highlight the investment opportunity within the overall space.......

Cybersecurity company SentinelOne files to go public with 108% revenue growth year-over-year

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CNBC – For more and to sign up click here SentinelOne co-founder and CEO Tomer Weingarten. SentinelOne Cybersecurity company SentinelOne filed its IPO prospectus with the Securities and Exchange Commission on Thursday, and plans to list on the New York Stock Exchange under the ticker symbol S. In the three months ending......

Goldman Sachs, Credit Suisse and other firms are using free food to lure workers back to the office

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CNBC – For more and to sign up click here Sharebite CEO and cofounder Dilip Rao and co-founder Mohsin Memon Source: Sharebite There’s no such thing as a free lunch – except when big companies want to get their employees back to the office during a pandemic. Employers including banks......

Deutsche Bank reports its best quarterly profit since the first quarter of 2014

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CNBC – For more and to sign up click here A general meeting of Deutsche Bank Arne Dedert | picture alliance | Getty Images LONDON — Deutsche Bank on Wednesday reported a 908 million euro ($1.1 billion) profit for the first quarter, buoyed by continued strong performance in its investment......

Credit Suisse reports $275 million first-quarter loss after Archegos hedge fund scandal

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CNBC – For more and to sign up click here A Credit Suisse logo in the window of a Credit Suisse Group AG bank branch in Zurich, Switzerland. Bloomberg | Bloomberg | Getty Images LONDON — Credit Suisse reported Thursday a net loss of 252 million Swiss francs ($295 million)......

Credit Suisse is still unloading shares of Discovery from Archegos

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CNBC – For more and to sign up click here Credit Suisse is still unraveling its positions from the blow up of Archegos Capital Management, traders told CNBC’s David Faber, putting more pressure on a beaten-down media stock. The investment bank was shopping blocks of different classes of Discovery stock......

Earnings season should boost hot financial stocks, RBC’s top bank analyst predicts

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CNBC – For more and to sign up click here One of the year’s hottest trades may get a boost from earnings season. RBC Capital Markets’ Gerard Cassidy expects financials to exceed Wall Street expectations when they start reporting this week. “The big beats are likely to come from the......

Morgan Stanley dumped $5 billion in Archegos’ stocks the night before massive fire sale hit rivals

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CNBC – For more and to sign up click here The night before the Archegos Capital story burst into public view late last month, the fund’s biggest prime broker quietly unloaded some of its risky positions to hedge funds, people with knowledge of the trades told CNBC. Morgan Stanley sold......

Southwest calls back pilots to prepare for busier summer schedule: CNBC After Hours

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CNBC – For more and to sign up click here CNBC.com’s Pippa Stevens brings you the day’s top business news headlines. On today’s show, Phil LeBeau breaks down how airlines are calling pilots to work as they prepare for a busier summer schedule now that so many Americans are vaccinated.......

Stocks making the biggest moves in the premarket: Illumina, Cara Therapeutics, Snap & more

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CNBC – For more and to sign up click here Take a look at some of the biggest movers in the premarket: Illumina (ILMN) – Illumina issued preliminary current-quarter and full-year guidance that exceeded current analyst estimates. The life sciences company said its projected results are being driven by record......

Credit Suisse cuts dividend on hit from Archegos hedge fund scandal; investment bank head and chief risk officer step down

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CNBC – For more and to sign up click here A Swiss flag flies over a sign of Credit Suisse in Bern, Switzerland FABRICE COFFRINI | AFP | Getty Images Credit Suisse on Tuesday announced several high-level staff departures and proposed a cut to its dividend as it weighs heavy......

Morgan Stanley and Goldman Sachs’ roles in volatility of ViacomCBS raises questions

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CNBC – For more and to sign up click here Morgan Stanley and Goldman Sachs, two of the firms at the center of the Archegos Capital Management unwinding, played a variety of roles before, during and after the margin call. That is raising questions about whether the firms should have......

Senate Banking Committee Chair Brown urges regulators to take a ‘closer look’ at Archegos meltdown

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CNBC – For more and to sign up click here Sen. Sherrod Brown (D-OH) takes a call at the US Capitol on March 06, 2021 in Washington, DC. Tasos Katopodis | Getty Images Sen. Sherrod Brown, the Democratic chairman of the powerful Senate Banking Committee, is setting his sights on......

Elizabeth Warren unloads on Archegos meltdown: ‘All the makings of a dangerous situation’

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CNBC – For more and to sign up click here Sen. Elizabeth Warren, D-Mass., conducts a news conference in the Capitol, March 1, 2021. Tom Williams | CQ-Roll Call, Inc. | Getty Images Sen. Elizabeth Warren is taking aim at Archegos Capital Management and the lightly regulated hedge-fund industry after......

Amazon’s high-stakes union vote ends, ballot counting begins: CNBC After Hours

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CNBC – For more and to sign up click here CNBC.com’s Pippa Stevens brings you the day’s top business news headlines. On today’s show, Deirdre Bosa lays out the stakes as Amazon’s union battle in Alabama enters its final stretch. Plus Leslie Picker explains the $20 billion blowup in the......

As Wall Street reels, Archegos’ fire sale raises big questions about regulation

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CNBC – For more and to sign up click here American flags hang from the facade of the New York Stock Exchange (NYSE) building in New York January 28, 2021. Mike Segar | Reuters The diverging fortunes of major banks in the fallout from the Archegos Capital Management meltdown raises......

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