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NEW YORK: Credit Suisse Group AG was sued by a pension fund that alleges the bank misled investors and let “high-risk clients” including Greensill Capital and Archegos Capital Management take on too much leverage, in one of the first lawsuits since the twin debacles.
NEW YORK: Morgan Stanley lost nearly US$1bil (RM4.13bil) from the collapse of family office Archegos Capital Management, the bank has said, muddying its 150% jump in first-quarter profit that was powered by a boom in trading and deal-making.
NEW YORK: Goldman Sachs Group Inc executives are examining how well the bank navigated several major market events this year that caused extreme volatility, people familiar with the matter told Reuters.
NEW YORK: Federal Reserve chair Jerome Powell says the US economy is at an “inflection point” with stronger growth and hiring ahead thanks to rising vaccinations and powerful policy support, but Covid-19 remains a threat.
LONDON: The damage control work at Credit Suisse Group AG from a pair of disasters that stunned the banking world will soon give way to the question of how the 165-year-old institution will rehabilitate its business and reputation.
ZURICH: BlackRock (pic) and Jean-Pierre Mustier's blank-check firm are among investors expressing interest in Credit Suisse's asset management arm, three sources told Reuters, as the Swiss lender explores options for the unit after a run of costly scandals.