Swiss regulators have found that Credit Suisse made a "serious breach" of law in connection with a now-bankrupt firm linked to Australian financier Lex Greensill and have opened a probe that could lead to penalties against four former bank managers.
Switzerland's financial markets authority, FINMA, said Tuesday that it has concluded enforcement proceedings opened two years ago against Credit Suisse after bank partner Greensill Capital went bankrupt. At the time, Credit Suisse closed four funds linked to the partnership, in which bank clients had invested about $10 billion.
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Wall Street veered toward small gains in premarket trading Tuesday with another batch of earnings on tap to close out a month of losses fueled by anxiety over more interest rate hikes and a possible recession.
Futures for the Dow Jones industrials were up 0.3% before the bell and futures for the S&P 500 rose 0.4%.
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U.K. Prime Minister Rishi Sunak traveled to Belfast on Tuesday to sell his landmark agreement with the European Union to its toughest audience: Unionist politicians who fear post-Brexit trade rules are weakening Northern Ireland's place in the United Kingdom.
The U.K. and the 27-nation EU announced Monday that they had struck a deal to resolve a dispute over Northern Ireland trade that has vexed relations since the U.K. left the bloc in 2020. The agreement will ease customs checks and other hurdles for goods moving to Northern Ireland from the rest of the U.K. that were imposed after Brexit to maintain an open border between the north and its EU neighbor, the Republic of Ireland.
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Ever bigger cars pose a growing problem for the environment because they produce more greenhouse gas emissions and need larger batteries than their smaller cousins, according to the International Energy Agency.
The Paris-based body suggested Monday that it's time for the car industry to downsize its vehicles, citing data that showed the world's 330 million sports utility vehicles, or SUVs, pumped out almost 1 billion metric tons of carbon dioxide in 2022.
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Nearly all flights at Germany's Cologne-Bonn airport and the majority at nearby Duesseldorf were canceled or diverted on Monday as a result of strikes that also affected local transportation, day-care facilities and local administration in Germany's most populous region.
Cologne-Bonn airport said that all but two of the day's 136 planned flights wouldn't depart from or arrive there, German news agency dpa reported. In Dusseldorf, only 89 of the planned 330 flights were expected to take place as scheduled, with most of the rest being canceled.
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French President Emmanuel Macron will unveil on Monday his country's changing economic and military strategy in Africa for the coming years, as France's influence substantially declines on the continent.
Macron is expected to call for a more balanced partnership with African nations, in a speech at the Elysee presidential palace before he begins an ambitious Africa trip on Wednesday to Gabon, Angola, the Republic of Congo and Congo.
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The U.K. and the European Union were poised Monday to end years of wrangling and seal a deal to resolve their thorny post-Brexit trade dispute over Northern Ireland.
Striking an agreement at a meeting with European Commission President Ursula von der Leyen would be a victory for Prime Minister Rishi Sunak — but not the end of his troubles. Selling the deal to his own Conservative Party and its Northern Ireland allies may be a tougher struggle.
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North Korean leader Kim Jong Un opened a major political conference dedicated to agriculture, state media reported Monday, amid outside assessments that suggest the country is facing a serious shortfall of food.
South Korean experts estimate that North Korea is short around 1 million tons of grain, 20 percent of its annual demand, after the pandemic disrupted both farming and imports from China.
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Banks in Switzerland are holding a substantial amount of the millions of dollars Lebanese central bank chief Riad Salameh is accused of embezzling, Swiss media reported on Sunday.
Salameh, 72, faces investigations related to suspicions of money laundering and illicit enrichment in Lebanon and abroad after he amassed a fortune in the country mired in financial crisis.
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Wall Street veered toward losses early Friday ahead of the release of consumer price data in the U.S. that could play into the Federal Reserve's next interest rate policy decision.
Futures for the Dow Jones Industrial Average fell 0.6% and the S&P 500 slipped 0.7%.
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