Business
Credit Suisse warns of ‘highly significant’ loss from hedge fund default – Sydney Morning Herald
The Swiss giant warns of a loss from a default by a US-based hedge fund on margin calls that it and other banks made last week.
Swiss bank Credit Suisse said it may have suffered a highly significant loss from a default by a US-based hedge fund on margin calls that it and other banks made last week, while Japans Nomura said it could face a loss of $US2 billion ($2.6 billion) due to an event with a US client.
Credit Suisse didnt identify the significant hedge fund or the other banks affected, or give other details of what happened. News reports identified the hedge fund as New York-based Archegos Capital Management.
Credit…
-
Business13 hours agoWhere to invest $10,000 in ASX ETFs this December
-
Business12 hours agoRanking the best “Magnificent Seven” stocks to buy for 2026. Here’s my No. 5 pick.
-
General9 hours agoFormer truck driver’s garage memorabilia collection sold to Westonia to drive tourism
-
Noosa News15 hours agoInside the big change in homebuyer habits during the Christmas holidays