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Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,482
5024hr
Pakistan Cases
1,234,828
2,23324hr
4.23% positivity
Sindh
453,858
Punjab
426,639
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32,828
Islamabad
104,764
KPK
172,498

Credit Suisse

Credit Suisse crisis worst yet for banking veteran Horta-Osorio
Business & Finance

Credit Suisse crisis worst yet for banking veteran Horta-Osorio

  • "Over three and a half decades, I have personally worked at and led several banks in different countries and have lived through many crises," the former Lloyds chief executive said during Credit Suisse's webcast annual general meeting.
  • "What has happened with Credit Suisse over the last eight weeks, with the US-based hedge fund and the supply chain finance funds matters, certainly goes beyond that."
Published 30 Apr, 2021 05:12pm
Credit Suisse to boost capital ahead of further Archegos hit
Business & Finance

Credit Suisse to boost capital ahead of further Archegos hit

  • Its shares fell 5.7%, with analysts pointing to the further Archegos hit and dilution caused by the issuance announced on Thursday of bonds convertible into 203 million shares.
  • In response, the bank is cutting its prime brokerage business, which caters to hedge fund clients, by about a third.
Published 22 Apr, 2021 05:26pm
Dell shares rise on plans to spin off top-performing VMware unit
Markets

Dell shares rise on plans to spin off top-performing VMware unit

  • The spinoff of its 81% stake in VMware, first proposed in a filing last July, would also help Dell lower its long-term debt of $41.62 billion, much of which was taken on during its 2016 acquisition of data management firm EMC.
  • Wall street analysts saw benefits in the spinoff, but some also raised long-term concerns about company's core business.
Published 15 Apr, 2021 07:43pm