Tag: MAN
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Nestle to investigate banking relationships after Credit Suisse collapse
ZURICH, March 28 (Reuters) – Nestle (NESN.S) will examine its banking relationships following the planned acquisition of Credit Suisse (CSGN.S) by UBS (UBSG.S), the food group’s CEO Mark Schneider said on Tuesday. The world’s largest food group was a customer of Credit Suisse, Schneider told broadcaster TeleZueri in an interview to be shown Tuesday evening, […]
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Credit Suisse risks disciplinary action, says the Swiss regulator
ZURICH, March 26 (Reuters) – Swiss financial regulator FINMA said it was considering disciplinary action against managers at Credit Suisse (CSGN.S) after Switzerland’s second largest bank had to be bailed out by UBS (UBSG) last week .S). FINMA president Marlene Amstad told Swiss newspaper NZZ am Sonntag that it was “still open” whether new procedures […]
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Factbox: Warren Buffett’s Investments in Financial Firms
NEW YORK, March 23 (Reuters) – Berkshire Hathaway’s Warren Buffett has been in talks with senior officials in the Biden administration about the banking crisis, leading some to speculate that Buffett might consider investing in the sector following the collapse of Silicon Valley Bank . Buffett is known to invest during tough times for the […]
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Citigroup CEO declares ‘this is not a credit crisis’ after US bank failures
March 22 (Reuters) – Jane Fraser, CEO of Citigroup Inc (CN), expressed confidence in US banks on Wednesday after a series of closures upset investors and fueled turmoil in global financial markets. “The banking system is pretty healthy,” and major and regional banks are well capitalized, Fraser told the Economic Club of Washington DC on […]
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SVB Financial Group accuses FDIC of cutting off the money
March 21 (Reuters) – SVB Financial Group (SIVB.O) said on Tuesday that the US Federal Deposit Insurance Corporation had taken “improper actions” to close it off from cash held at its former subsidiary Silicon Valley Bank, which has been banned by regulators seized to stop a run on the national bank. SVB Financial made the […]
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Credit Suisse postpones annual report after SEC call, shares fall
SEC asked questions about the bank’s previous financial statements SEC questions pertain to consolidated cash flow statements, related controls Bank says 2022 financial results ‘unaffected’ Analyst describes bank as ‘big construction site’ ZURICH, March 9 (Reuters) – Credit Suisse has delayed the release of its annual report after a last-minute call from the US Securities […]
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Former top shareholder Credit Suisse sells entire stake in bank – FT
March 5 (Reuters) – Harris Associates, one of the longest major shareholders of Credit Suisse (CSGN.S), has sold its entire stake in the Swiss bank after losing patience with its strategy of avoiding continued losses and an exodus of customers. stop, reported the Financial Times. on Sunday. Harris, who had remained loyal despite a series […]
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Walgreens will not provide abortion pills in some Republican states
March 2 (Reuters) – Walgreens Boots Alliance Inc (WBA.O) said on Thursday it will not provide abortion pills in the states of 20 Republican attorneys general who have told the pharmacy chain it risks breaking the law if it meets the law states provided by mail. The decision comes after the U.S. Food and Drug […]
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Starbucks CEO Schultz may be ordered to testify at the U.S. Senate labor hearing
WASHINGTON, March 2 (Reuters) – U.S. Senator Bernie Sanders declined Thursday to backtrack on calls for Starbucks Corp. (SBUX.O) interim Chief Executive Officer Howard Schultz, who steps down this month, to testify at a hearing on compliance with labor law. Starbucks reiterated Thursday that it has no plans to send Schultz to a U.S. Senate […]