FT: Archegos founder Bill Hwang found guilty over fund’s collapse
THE FINANCIAL TIMES reports: A New York jury has found former Wall Street trader Bill Hwang ...
TFII: SOLID AS USUALMAERSK: WEAKENINGF: FALLING OFF A CLIFFAAPL: 'BOTTLENECK IN MAINLAND CHINA'AAPL: CHINA TRENDSDHL: GROWTH CAPEXR: ANOTHER SOLID DELIVERYMFT: HERE COMES THE FALLDSV: LOOK AT SCHENKER PERFORMANCEUPS: A WAVE OF DOWNGRADES DSV: BARGAIN BINKNX: EARNINGS OUTODFL: RISING AND FALLING AND THEN RISING
TFII: SOLID AS USUALMAERSK: WEAKENINGF: FALLING OFF A CLIFFAAPL: 'BOTTLENECK IN MAINLAND CHINA'AAPL: CHINA TRENDSDHL: GROWTH CAPEXR: ANOTHER SOLID DELIVERYMFT: HERE COMES THE FALLDSV: LOOK AT SCHENKER PERFORMANCEUPS: A WAVE OF DOWNGRADES DSV: BARGAIN BINKNX: EARNINGS OUTODFL: RISING AND FALLING AND THEN RISING
THE FINANCIAL TIMES writes:
… Well, would you look at that:
Capital ratios offer one nonsense way to approach Credit Suisse’s first-quarter results. Earnings offer another: basic EPS of Sfr3.1 ($3.49) meant it was CS’s most profitable quarter since 2007. A cursory check of the data suggests it’s the biggest quarterly profit per share booked by a systemically important European bank since the GFC.
Before you all rush to the comment box, let’s emphasise the obvious. Headline numbers are wildly distorted by the zeroing in March of CS’s AT1 buffer securities to raise Sfr15bn. The emergency cash infusion is recorded as corporate centre net revenue, resulting in a record pre-tax profit of Sfr12.8bn…
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