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INSANE: 2 | Vintage Vibes

Credit Suisse Launches Radical Overhaul to Stabilize Bank

Credit Suisse announced a radical series of measures Thursday aimed at turning around the beleaguered bank following huge third quarter losses, including revamping its investment banking unit, 9,000 job layoffs and raising fresh capital. Switzerland's second-biggest bank launched a strategic review aimed at putting an end to a series of…

Asharq Al-Awsat

Credit Suisse puts Zurich hotel up for sale in urgent liquidity dash

Ailing Swiss bank’s share price has collapsed after being hit by series of crises

The Guardian - UK

Cost of insuring against Credit Suisse defaulting reaches record high

Investors rush to buy credit default swaps as worries grow over solidity of bank’s balance sheet

The Guardian - UK

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Credit Suisse weighs up 5,000 job cuts as part of restructuring plan

Proposals involve scaling back the investment bank and reducing more than $1bn in costs

The Guardian - UK

Credit Suisse chief executive resigns after turbulent two years

Thomas Gottstein steps down in latest high-level departure and will be replaced by Ulrich Körner

The Guardian - UK

Geraint Thomas welcomes ‘Grandad’ Bradley Wiggins’ Tour de France underdog tip

Thomas goes into Friday’s opening stage in Copenhagen on the back of victory in the Tour de Suisse

The Independent UK

Swiss politicians vote against loosening notorious banking secrecy law

Failure to amend law in reaction to Credit Suisse investigation dashes hopes for fast-track route to greater press freedom

The Guardian - UK

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Swiss consider amending banking secrecy laws amid UN pressure

Country urged to scrap rules under which whistleblowers and journalists can be prosecuted

The Guardian - UK

Oligarch linked to billions in 27 Swiss bank accounts in sister’s name

Leaked documents raise questions over financial relations between relatives of billionaire ex-Arsenal shareholder Alisher Usmanov

The Guardian - UK

Credit Suisse leak: three largest parties call for EU to assess Switzerland risk

Three biggest groups in European parliament support possible move to high-risk list for money laundering

The Guardian - UK

How Swiss banking secrecy enabled an unequal global financial system

Centuries-old code of silence helped Switzerland become a magnet for tax-dodging wealthy clients

The Guardian - UK

The Guardian view on Credit Suisse: in search of a moral compass

Editorial: Another massive data leak has revealed a lack of due diligence by one of the world’s largest private banks

The Guardian - UK

Credit Suisse has allowed the morally bankrupt to steal from the poor for too long

How many exposés will it take for Switzerland and other countries to change their laws on banking secrecy, says Joseph Stiglitz, a Nobel laureate in economics

The Guardian - UK

Switzerland at risk of EU blacklist after Credit Suisse leak

Apparent due diligence failures by Swiss bank prompts centre-right calls for EU to review relationship with Switzerland

The Guardian - UK

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The Guardian - UK

Crooks, kleptocrats and crises: a timeline of Credit Suisse scandals

A string of controversies have beset Switzerland’s second-largest lender, including Japanese ‘shredding party’ and US sub-prime fraud

The Guardian - UK

Revealed: king of Jordan used Swiss accounts to hoard massive wealth

Leak shows King Abdullah was beneficial owner of at least six Credit Suisse accounts

The Guardian - AU

Monday briefing: Credit Suisse leak unmasks fraudsters and corrupt politicians

Massive leak reveals secret owners of £80bn held in Swiss bank … Biden and Putin agree in principle to summit … and Charlie Brooker on being Mr Dystopia

The Guardian - UK

Revealed: Credit Suisse leak unmasks criminals, fraudsters and corrupt politicians

Massive leak reveals Swiss bank’s accounts have been used by an array of high-risk clients over several decades

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The Guardian - UK

Credit Suisse leak raises painful questions for the bank

Analysis: Bosses will have to prove their aversion to dubious wealthy clients if they are to regain trust of markets and regulators

The Guardian - UK

What is the Suisse secrets leak and why are we publishing it?

Banking secrecy is an issue of global public interest that can have a profound impact on the world’s poorest

The Guardian - UK

Credit Suisse responds to Suisse secrets disclosures

Statement from Switzerland’s second-largest lender on revelations about its business practices

Evening Standard

Struggling Credit Suisse ousts chairman Antonio Horta-Osorio after Covid quarantine probe

Credit Suisse Group’s chairman Antonio Horta-Osorio resigned after just nine months in the role, following a series of missteps including reported breaches of Swiss and UK quarantine rules that eroded confidence in his leadership (Bloomberg).

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