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$17bn in bonds held by firms including Fidelity International, Invesco, Lazard, Pimco and GAM were wiped out but Credit Suisse shareholders still stood to receive $3.2bn as part of the rescue deal

Online News Editor

Swiss market regulator Finma has issued an explanation for its decision to wipe out $17bn in Credit Suisse AT1 bonds as part of the UBS rescue deal.

 the AT1 instruments issued by Credit Suisse “contractually provide that they will be completely written down in a ‘Viability Event’” particularly if extraordinary government support is granted. 

Finma defends AT1 bond writedown in Credit Suisse-UBS deal as legal action looms

Switzerland regulator defends AT1 bonds writedown in Credit Suisse-UBS deal

Penny Sukhraj

Credit Suisse

Lazard

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CDPQ hires Sharon White to lead push in Europe

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Former chair of the John Lewis Partnership is joining the Canadian pension fund giant early next year

One of the top investors in Adani Group launched an on-market share buyback to protect its share price against the contagion from a U.S. investigation into the Indian conglomerate.

GQG Launches Buyback After Stock Tumbles on Adani Probe

The president-elect floated the idea during a Wednesday meeting with the former Fed governor.

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The AI titan will maintain its strong lead, but complicated product rollouts, sky-high expectations and the China threat add complications to growth potential.

Nvidia Is on Top but Does It Have Anywhere to Go but Down?

Research group GfK’s measure of consumer confidence climbed to minus 18 in November’s survey from minus 21 in October.

U.K. Consumers Cheerier Ahead of Holidays as Budget, U.S. Election Jitters Fade

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