Business

Scandal-stricken Credit Suisse continues shake-up

Credit Suisse (CSGN.S) announced the departure of its Swiss chief compliance officer on Monday as recently appointed Chairman Antonio Horta-Osorio shakes up the bank in the wake of a series of costly blunders. The bank was forced to wind down $10 billion in funds linked to collapsed supply chain finance firm Greensill and suffered billions […]

Business

Vietnam’s VinFast starts operations in North America and Europe

Vietnam’s first domestic car manufacturer, Vinfast, said on Monday it has opened offices in North America and Europe, joining a crowded field of players seeking to woo customers with smart electric cars. VinFast, a unit of Vietnam’s largest conglomerate Vingroup JSC (VIC.HM), became the country’s first fully fledged domestic car manufacturer when its gasoline-powered models […]

Business

EXCLUSIVE French delivery company Colis Privé postpones public listing

French parcel delivery company Colis Privé on Monday postponed for a few months its initial public offering (IPO) initially planned for early July, citing unfavourable market conditions. Although 2021 has been a record year for IPOs in Europe and globally, there are signs of investor fatigue. “We had very good initial contacts with investors that […]

Business

Britain’s ASOS to sell Topshop apparel at Nordstrom stores in U.S. push

British online fashion retailer ASOS (ASOS.L) will sell Topshop apparel at Nordstrom (JWN.N) stores in a joint venture with the department store chain, it said on Monday, in an effort to reach more U.S. and Canadian customers. U.S.-based Nordstrom will buy a minority interest for an undisclosed sum in the Topshop, Topman, Miss Selfridge and […]

Business

Credit Suisse names new asset management COO as post-crisis shakeup continues

Credit Suisse is overhauling its asset management business as it faces regulatory investigations into its dealings with Greensill Capital, warning on Thursday that its results and client confidence could be hit by the finance firm’s collapse. Switzerland’s second-biggest bank and its asset management arm are reeling from the implosion of around $10 billion of funds […]

Business

Marketmind: Real world data bites

A look at the day ahead from Julien Ponthus Last week’s bond rally took many investors by surprise as there was little in the data to trigger the narrative to shift so quickly from inflation worries to growth scare. While U.S. 10-year Treasury yields have bounced back 10 basis points from the 1.25% floor hit […]

Business

Analysis: Treasury rally leaves investors scrambling for yield plays

A tumble in Treasury yields is pushing some investors toward other income-generating vehicles including dividend-paying stocks and emerging market bonds, often in exchange for a greater degree of risk. Earlier this year, few expected that Treasury yields would sink closer to historic lows by summer despite a resurgence of U.S. growth after the coronavirus pandemic. […]