Switzerland

Results for Switzerland

Credit Suisse to Get $385 Million in Lehman Bankruptcy Claim

Credit Suisse will get $385 million from its bankruptcy claim against Lehman Brothers Holdings, the Swiss bank said on Wednesday, less than the $1.2 billion it sought from the failed U.S. investment bank for terminated derivatives transactions, Reuters r ...

Daily Headline - global.abi.org - 06/13/2018 - 23:47 - 0 comments

Let's Watch the Swiss Get Radical and See What Happens

This Sunday Swiss voters will decide whether to try what may be the boldest financial experiment ever contemplated — dismantling their orthodox banking system and building a new one based on so-called sovereign money, or Vollgeld. The proposal is probabl ...

Daily Headline - global.abi.org - 06/06/2018 - 22:24 - 0 comments

Credit Suisse Is Near Lehman Derivatives Settlement

Credit Suisse AG is closing in on an agreement to settle a $1.2 billion derivatives demand against bankrupt Lehman Brothers Holdings Inc., reducing the claim to $385 million, according to a person with knowledge of the matter. The settlement would end a ...

Daily Headline - global.abi.org - 05/29/2018 - 23:40 - 0 comments

Swiss 1MDB Investigation Turns to PetroSaudi Officials

Swiss prosecutors have launched criminal proceedings against two officials at PetroSaudi International Ltd. related to alleged dealings with Malaysian state investment fund 1Malaysia Development Bhd, an escalation of the Swiss probe that started nearly t ...

Daily Headline - global.abi.org - 05/01/2018 - 22:57 - 0 comments

Glencore Weighs Buying Back Gupta-Linked Coal Mine

Glencore Plc is considering a bid for the Optimum coal operations in South Africa, which it sold in 2015 to a company part-owned by the politically connected Gupta family, according to two people familiar with the matter. Optimum supplies fuel to state p ...

Daily Headline - global.abi.org - 03/27/2018 - 22:38 - 0 comments

Swiss Steel Firm Schmolz + Bickenbach Chosen to Buy France's Ascometal

Swiss company Schmolz + Bickenbach has been chosen by a Strasbourg court to buy troubled French steelmaker Ascometal, the court said on Monday, with Schmolz + Bickenbach’s bid prevailing over a rival one from Liberty House, Reuters reported. Ascometal, w ...

Daily Headline - global.abi.org - 01/30/2018 - 00:29 - 0 comments

S&P Downgrades Swissport Due to “Highly Leveraged” Owner HNA

Ratings agency Standard & Poor’s cut Swissport’s credit rating on Tuesday as a result of its weakening outlook for HNA Group, the Swiss aviation services company’s Chinese owner. S&P cut the company’s rating one notch to B-, deeply in “junk” terr ...

Daily Headline - global.abi.org - 12/06/2017 - 01:39 - 0 comments

Pressure on Noble Group as Vitol Says Oil Deal ‘Complicated’

Vitol Group’s negotiations to buy Noble Group Ltd.’s oil trading unit are “very complicated” and may not end in a deal, the chief executive officer of Vitol said, adding to pressure on his Hong Kong-based rival, Bloomberg News reported. The sale of the o ...

Daily Headline - global.abi.org - 10/19/2017 - 01:01 - 0 comments

Swissport’s Short-Term Loans to HNA Raise Investor Concerns

Swissport has started providing short-term loans to companies linked to the HNA Group, raising concerns among investors about the intermingling of the Swiss airline services company’s funds with its Chinese parent, the Financial Times reported. HNA a ...

Daily Headline - global.abi.org - 09/24/2017 - 20:23 - 0 comments

Swiss Franc Continues Slide Against the Euro

up by 0.7 per cent on the day at SFr1.1472 – a new post-limit low for the franc. The Swiss currency ...

Daily Headline - global.abi.org - 08/03/2017 - 00:08 - 0 comments

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