Credit Suisse CEO Blasts ‘Really Stupid’ Takeover Rumor

Most chief executive officers, when asked if their firm is for sale, would give a boring, lawyer-approved response about how their company does not comment on rumors or speculation. Not Credit Suisse’s Thomas Gottstein. When asked at a Goldman Sachs conference Thursday about chatter circulating on Wall Street regarding a possible acquisition of Credit Suisse […]

Eurozone Interest Rates Set To Rise For First Time In 11 Years

The European Central Bank (ECB) has said it intends to raise interest rates for the first time in more than 11 years next month as it tries to control soaring inflation in the eurozone. The ECB said it would raise its key interest rates by 0.25% in July, with further increases planned for later in […]

Credit Suisse Warns Of Yet Another Loss

Credit Suisse (CS) warned on Wednesday of a likely group-wide second-quarter loss as volatility hits its investment bank, extending a losing streak stretching back to 2021. Switzerland’s second-largest bank has described 2022 as a “transition” year, in which it is trying to turn the page on costly scandals that brought ousters and a near-total reshuffle […]

Mastercard SpendingPulse Expands Across Europe

Consumer spending has evolved rapidly over the past two years, from how people pay to where they shop, making economic insights more important than ever. With these new preferences and behaviors, businesses and governments are looking for regular insights to help guide their planning and decision-making. To support these needs, Mastercard SpendingPulseTM has been extended […]

Revolut’s Banking App Fixed After Outages

Revolut’s global banking app is operating again after “technical problems” caused several hours of interruptions for some customers. Users of the app took to Twitter to voice their concerns as the company’s website showed reports of hundreds of outages throughout Monday. Revolut apologized and said the app was now working again for those affected. The […]

Ukraine Lifts Interest Rate To Highest In Europe

Ukraine’s central bank has more than doubled its interest rate to 25% the highest level for any European country. The move is intended to slow soaring inflation and prevent a further collapse of its currency following Russia’s invasion in February. Businesses have been forced to close and key supply chains have been cut off since […]

German Retail Sales Drop in April As Food Prices Bite

German retail sales fell as consumers feel the pinch of higher prices, especially for food, and retailers face supply problems.

EasyJet Says Bookings Strong As It Posts 545 Mln Stg First Half Loss

British low-cost carrier EasyJet said demand was strong, with bookings in the last 10 weeks consistently above pre-pandemic levels.

Google To Pay Over 300 European News Publishers For Content

The tech giant signed deals with news outlets in Germany, Hungary, France, Austria, the Netherlands and Ireland and said it is in talks with others as well.

Credit Suisse’s Legal Headaches Cost The Bank Another $700 Million

Credit Suisse (CSGKF) expects to report a first-quarter loss after increasing legal provisions, seeing business activity slow, and taking a hit from the fallout of Russia’s invasion of Ukraine, the Swiss bank said on Wednesday. The bank is still reeling from billions in losses racked up in 2021, which prompted a top management shake-up, and […]

Fintechs Are Under Pressure To Stop Russian Sanctions Evasion. This Start-Up Raised $94 Million To Help

Seon, a start-up that helps fintech companies like Revolut tackle online fraud, has raised $94 million to develop new tools for preventing sanctions evasion by Russia. The London-based company raised the fresh cash in a funding round led by IVP, the Silicon Valley investment firm that has backed the likes of Netflix and Twitter. IVP […]

Streaming Services Take A Hit As Inflation Forces Brits To Choose

Britons are abandoning streaming services such as Netflix (NFLX) and Disney+ to save money as they suffer the biggest cut to their disposable incomes since the 1950s. Streaming services boomed during the pandemic as people were forced to spend more time at home. With lockdown restrictions lifted, Britons canceled about 1.5 million subscriptions in the […]