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Credit Suisse’s investment banking to be scrutinized by new chairman – CEO By Reuters

ZURICH (Reuters) - The structure of Credit Suisse (SIX:CSGN)'s investment bank will be scrutinised closely by incoming chairman Antonio Horta-Osorio, CEO Thomas Gottstein told a newspaper, as the bank aims to boost risk management after billions in losses on U.S fund Archegos. "That is with certainty one of the core strategic themes that the board under the new chairman,...

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Fed Minutes, Trade Balance, Let’s Take a Cruise: 3 Things to Watch By Investing.com

By Christiana Sciaudone Investing.com -- Markets closed slightly lower Tuesday after a record Monday.  Tech companies were lower, with the exception of Apple (NASDAQ:AAPL) and Netflix (NASDAQ:NFLX). Financials were also larger down. On the upside, ViacomCBS Inc (NASDAQ:VIAC) and Discovery (NASDAQ:DISCA) made a comeback after getting hit by the Archegos debacle, and Peloton (NASDAQ:PTON) made a comeback on Credit Suisse ...

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Citibank files wind up applications for GFG Australian assets By Reuters

MELBOURNE (Reuters) - Citibank N.A. has lodged an application with Australia's Supreme Court of New South Wales to wind up two businesses run by Indian-British steel magnate Sanjeev Gupta as part of insolvency measures. The London branch of Citibank lodged an application on Tuesday to wind up OneSteel Manufacturing, which includes the Whyalla steel plant in South Australia, and Tahmoor Coal, which...

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Asia shares set for sluggish start after Wall Street retreats from record highs By Reuters

By Chibuike Oguh (Reuters) - Asia equities are set for a sluggish open on Wednesday after Wall Street pulled back from record highs reached in previous sessions, as investors eye the upcoming earnings season for more signs of a recovery following a series of strong U.S. economic data. The three major Wall Street indexes closed lower on Tuesday, a day after...

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Amazon CEO Bezos, stung by wide criticism, endorses U.S. corporate tax hike By Reuters

By David Shepardson WASHINGTON (Reuters) - Amazon.com Inc (NASDAQ:AMZN) supports a hike in the U.S. corporate tax rate as part of an infrastructure overhaul, Jeff Bezos, chief executive of the largest U.S. retailer, said on Tuesday after facing withering criticism from the White House, Congress and on social media. "We support the Biden Administration’s focus on making bold investments in American infrastructure,"...

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Samsung Electronics says first-quarter profit likely rose 44%, in line with analyst estimate By Reuters

SEOUL (Reuters) - Samsung Electronics (LON:0593xq) Co Ltd said on Wednesday first-quarter operating profit likely rose 44% on brisk sales of home appliances, smartphones and television sets, though chip earnings likely fell after a winter storm halted U.S. output. The South Korean technology giant forecast January-March profit of 9.3 trillion won ($8.32 billion), in line with a 9.3 trillion won analyst forecast...

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S&P 500 Snaps 3-Day Win Streak as Bulls Hit Pause on ‘Overbought’ Stocks By Investing.com

By Yasin Ebrahim Investing.com – The S&P 500 snapped a three-day win streak Tuesday as technology and energy stocks slipped with investors weighing optimism on the global recovery against the recent rally that some say has pushed stocks into "overbought" territory.     The S&P 500 closed 0.1% lower after hitting a record high of 4,086.10, the Dow Jones Industrial Average fell 0.29%, or...

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