Credit Suisse expected to announce Koerner as CEO, latest change at helm – sources

Credit Suisse expected to announce Koerner as CEO, latest change at helm - sources

July 26 (Reuters) – Credit Suisse Group AG (CSGN.S) is expected to announce Ulrich Koerner as its new chief executive, the latest management churn at the Swiss bank as it struggles to recover from a series of scandals, two sources familiar with the situation said on Tuesday. Pressure had been mounting on current CEO Thomas … Read more

Alibaba aims to add primary listing in Hong Kong, woo China investors after crackdown

Alibaba aims to add primary listing in Hong Kong, woo China investors after crackdown

A man walks past the Alibaba Group office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang Register now for FREE unlimited access to Reuters.com Register Expects to add HK primary listing by end-2022, keep NYSE listing HK shares jump nearly 6%; move will diversify investor base -CEO Seen boosting mainland China investor access to … Read more

China plans real estate fund worth up to $44 billion for distressed sector, source says

China plans real estate fund worth up to $44 billion for distressed sector, source says

The Evergrande Center of China Evergrande Group is seen amid other buildings in Shanghai, China, September 24, 2021. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register Fund size initially to be set at 80 bln yuan -source News comes as regulators scramble to reassure investors Fund alone will not ‘solve all the … Read more

Wall Street closes lower as ad tech, social media stocks drop

Wall Street closes lower as ad tech, social media stocks drop

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 21, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register Snap Inc shares plunge on slowing growth Communication services stocks lead sectoral declines AmEx raises revenue forecast on resilient card spending Indexes down: Dow … Read more