Newsroom | Swissquote

Credit Suisse Warns Another Quarterly Loss Is Likely

Credit Suisse Group AG said Wednesday that it is likely to post a loss for the second quarter, as it continues to face challenging market conditions while it presses on with a restructuring. The Swiss lender said it faced more volatile markets, weak customer flows and continued debt reduction by clients, especially in the Asia-Pacific and China region. The past two quarters have been unprofitable for the bank. The investment bank’s performance was depressed in April and May, and the unit will likely post a quarterly loss, Credit Suisse said. The division is being trimmed down amid a decision to reduce risk and shift focus on wealth management.

08.06.2022

Elon Musk Threatens to End Twitter Deal Over Lack of Information

Elon Musk threatened to terminate his deal to buy Twitter Inc. in a letter accusing the company of not complying with his request for data on the number of spam and fake accounts on the social-media platform. Mr. Musk said Twitter has refused to provide the data necessary for Mr. Musk to facilitate his own evaluation of the number of spam and fake accounts. In April, Twitter accepted Mr. Musk’s $44 billion bid to take over the company and go private. As part of the deal, Mr. Musk waived detailed due diligence that buyers typically perform on targets.

07.06.2022

Themes Trading

Whats next for stocks?

Market volatility has moved into nausea-inducing levels. The S&P 500 has fallen 16% year-to-date, and according to some experts, we’re on a slippery slope – and yet to reach the bottom.

07.06.2022

Peter Rosenstreich

Microsoft Cuts Earnings, Revenue Guidance Citing Foreign Exchange

Microsoft shares recovered from early losses to finish up $2.16, or 0.8%, to $274.58, rising with the broader market. The software company cut sales and earnings guidance for the current quarter, citing the impact of foreign-exchange rates as the stronger U.S. dollar takes a toll. The software giant said in a securities filing Thursday that it now expects fiscal fourth-quarter sales of between $51.94 billion and $52.74 billion, down from its prior guidance of $52.4 billion to $53.2 billion. The quarter ends June 30. Earnings are expected to be between $2.24 a share and $2.32 a share, down from prior guidance of $2.28 a share to $2.35 a share. Economic weakness in other parts of the world has helped propel the U.S. dollar to multi-decade highs against its trading partners, which comes as U.S. inflation is at or near its highest level in nearly 40 years.

03.06.2022

CEO of Deutsche Bank’s DWS Resigns After Police Raid on Offices

The chief executive of Deutsche Bank AG’s (+0.8%) asset-management subsidiary DWS Group (-6.2% in Frankfurt) will step down, the German lender said Wednesday, a day after a raid by German authorities on its Frankfurt offices. Asoka Woehrmann, who has run the group since late 2018, will resign after DWS Group’s annual general meeting on June 9. He will be succeeded by Stefan Hoops, currently head of Deutsche Bank’s corporate bank, on June 10.

02.06.2022

Eurozone Inflation Hits Fresh High as More Energy Sanctions Loom

Investors' worries were cemented by the latest eurozone inflation data, with consumer prices rising to a record 8.1% in May with economists expecting the eurozone inflation to continue its upward trend in the coming months, as energy and food prices rise due to Russia's war in Ukraine. A worsening of supply-chain disruptions due to the conflict and Chinese lockdowns is putting additional upward pressure on inflation. The data from the European Union's statistics agency marked a sharp acceleration from the 7.4% rate of inflation recorded in both April and March. Consumer prices rose at the fastest pace since records began at the start of 1997. Germany's statistics agency said inflation in the eurozone's largest member hadn't been this high since late 1973 and early 1974, amid a severe shortage of oil.

01.06.2022

Shell, Seven Group Sign Off on Crux Gas Field Development

Shell PLC and Australia's Seven Group Holdings Ltd. have approved the development of the Crux natural-gas field off the coast of western Australia, Shell said on Monday. The oil major expects gas from Crux to be in demand as traditionally coal-hungry Asian utilities diversify their energy mix and customers globally wean themselves off Russian energy resources following Moscow's invasion of Ukraine. The joint venture will start construction on the project this year and expects to be producing gas in 2027, Shell said.

31.05.2022

Inflation Eased Slightly in April, According to Fed’s Preferred Measure

Inflation decelerated slightly in April, measured by the Federal Reserve’s preferred gauge, though it remained near its fastest pace since 1982. Consumer prices rose 6.3% in April from a year earlier, down from 6.6% in March, as measured by the Commerce Department’s personal-consumption expenditures price index, which it reported Friday. The March rise was the fastest since January 1982. April’s reading was the first time the measure eased since late 2020. The so-called core PCE index—which excludes volatile food and energy prices—increased 4.9% in April from a year ago, down from 5.2% in the year through March. On a monthly basis, core prices rose a seasonally adjusted 0.3%, the same as in February and March. That pace marked a moderate slowdown from the average monthly pace for the previous four months.

30.05.2022

Alibaba, Hit by Covid in China, Posts Slowest Revenue Growth Since IPO

Chinese e-commerce giant Alibaba Group Holding Ltd. posted its slowest quarterly revenue growth since it went public in 2014, as China's Covid-19 restrictions and an economic slowdown added to the financial toll of a regulatory crackdown. For the quarter that ended in March, the Hangzhou-based company's revenue rose 9% from the same period a year earlier to 204.1 billion yuan, or $32.2 billion, based on an exchange rate of 6.34 yuan to a dollar that Alibaba used. It posted a net loss of 16.2 billion yuan for the fiscal fourth quarter, compared with a 5.5 billion yuan net loss a year earlier.

27.05.2022