Credit Suisse’s first quarter results could suffer a material impact after the bank started exiting positions after a U.S.-based hedge fund defaulted on margin calls it made, the bank said…
Category: Business
Australia’s AMP says Ares keen to buy unit’s $1.7 billion private markets business
Troubled Australian wealth manager AMP Ltd said on Monday that Ares Management was interested in a potential buyout of its A$2.25 billion ($1.72 billion) private markets business, nearly a month…
Alibaba-backed Energy Monster caught in legal dispute ahead of U.S. listing
Energy Monster, China’s biggest mobile device power bank startup backed by Alibaba and SoftBank, is embroiled in an ownership dispute that could further cloud a Nasdaq flotation already buffeted by…
China Evergrande to raise $2 billion in pre-IPO for property, car marketplace unit
China Evergrande Group on Monday said it will sell 10% of its online real estate and automobile marketplace, Fangchebao (FCB), to 17 investors for HK$16.35 billion ($2.10 billion), in a…
Facebook, Google plan new undersea cables to connect Southeast Asia and America
Facebook said on Monday it planned two new undersea cables to connect Singapore, Indonesia and North America in a project with Google and regional telecommunication companies to boost internet connection…
Swiss watchdog says several banks involved in hedge-fund case
Swiss financial watchdog FINMA said on Monday it has been informed by Credit Suisse about its involvement in an international hedge-fund case involving several banks. “FINMA is aware of this…
Grindr’s U.S. security review disclosures contradicted statements made to others
When Grindr Inc’s Chinese owner sold the popular dating app to an investor consortium last year to comply with a U.S. national security panel order, the parties to the deal…