The riskiest bonds of European lenders are plunging after holders of Credit Suisse Group AG’s contingent convertible securities suffered a historic loss as part of its takeover by UBS Group AG.
European banking stocks slumped Monday as investors reeled from the historic weekend takeover of Credit Suisse Group AG that will wipe out a class of bondholders.
The US and the Philippines highlighted the benefits of a recently expanded defense deal, as America’s push for greater presence in the Southeast Asian nation faced opposition from China and local politicians.
DoubleLine Capital’s Jeffrey Gundlach said Credit Suisse Group AG’s bondholders, who are irate after the takeover by UBS Group AG wiped out about 16 billion Swiss francs ($17.3 billion) of risky notes, have only themselves to blame.
Thai conglomerate DTGO Corp. is weighing listing its UK hospitality assets via a real estate investment trust in Singapore as soon as next year, according to people with knowledge of the matter.
Osman Semerci, a once-rising star at Merrill Lynch & Co. until the unit he oversaw helped usher in the firm’s demise, is in the spotlight again.
President Recep Tayyip Erdogan used a display of new military jets to drum up support for his election campaign this weekend, a show of force ahead of elections in May that will test his two decades in power.
Russians established more than 1,300 firms in Turkey in 2022, a 670% increase from the previous year, according to a report by The Economic Policy Research Foundation of Turkey, a think tank.
China’s top anti-graft watchdog has begun an investigation of former Tsinghua Unigroup Chairman Zhao Weiguo, who becomes the latest high-profile figure ensnared in an industry-wide corruption dragnet.
UBS Group AG agreed to buy Credit Suisse Group AG in a historic, government-brokered deal aimed at containing a crisis of confidence that had started to spread across global financial markets.
