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The world of finance faces an ethics check
Fantastic early morning, Peter Vanham in this article in Geneva, filling in for Alan. Seen from the German-speaking globe, it is tricky to be upbeat about the condition of the planet of finance these days. (I’ll go away the analysis of the condition of U.S. democracy and justice to all those of you targeted on decrease Manhattan.) In Zurich, yesterday, shareholders of Credit rating Suisse gave the company’s outgoing board an indignant wave-off, at the bank’s final ever once-a-year meeting. I dialed in from Geneva, and listened to that quite much almost everything and everybody was blamed for the bank’s demise: greed of bankers, mismanagement of management, a absence of oversight by…
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Credit Suisse faces crucial weekend with its future in balance
March 17 (Reuters) – Credit Suisse Group AG (CSGN.S) headed into a make-or-break weekend after some rivals grew cautious in their dealings with the struggling Swiss lender, and its regulators urged it to pursue a deal with UBS AG (UBSG.S). Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over the weekend to assess strategic scenarios for the bank, people with knowledge of the matter said on Friday. Swiss regulators are encouraging UBS and Credit Suisse to merge, one source with knowledge of the matter said, but added that both banks did not want to do so. The regulators do not have the power to force…
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Analysis: Mexico miner Grupo Mexico’s bid for Citigroup unit faces skepticism
MEXICO Metropolis, Feb 7 – Mining-targeted conglomerate Grupo Mexico (GMEXICOB.MX) is shifting closer to getting Citigroup Inc’s (C.N) Mexican shopper banking unit but faces an uphill route in promoting the offer to skeptical buyers. Grupo Mexico, headed by billionaire German Larrea, is amid the very last candidates continue to standing in Citi’s calendar year-extended journey to sell its retail unit, known as Banamex, and has positioned a bid of up to $8 billion for it, Reuters described earlier this month. But some analysts, shareholders and even Grupo Mexico executives have however to be convinced of the deal’s industrial logic. A Grupo Mexico executive, who spoke on situation of anonymity, explained…
/cloudfront-us-east-2.images.arcpublishing.com/reuters/34WKFZGX3BJOTB7YI7GFKUTYSU.jpg "Credit Suisse faces crucial weekend with its future in balance")
/cloudfront-us-east-2.images.arcpublishing.com/reuters/M4BX5VPW4JJ3ZJH6Z2Z25EHRT4.jpg "Analysis: Mexico miner Grupo Mexico’s bid for Citigroup unit faces skepticism")
