Credit Swiss - What's Going On?

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Credit Swiss share price is down something like 70% over the past year. US investors who have been long-term investors in Credit Swiss may be finally giving up and thinking now is the time to really cut our losses. The bank itself is looking at the Middle East as an area of growth so they can court those individuals as private bank customers, but also the institutional wealth from the sovereign wealth funds to be investors in the business. So they very much pivoting, I think, the strategy towards the Middle East in a way from more traditional markets such as North America and maybe even mainland Europe.

Growth in Microsoft’s cloud computing business slowed further in the latest quarter but still did better than the software company and many analysts had predicted, the Qatar Investment Authority has doubled its stake in Credit Suisse, and Chris Hipkins has been sworn in as New Zealand’s next prime minister, replacing Jacinda Ardern.

Mentioned in this podcast:

Qatar Investment Authority doubles stake in Credit Suisse

‘Mr Fixit’ replaces Jacinda Ardern as New Zealand’s prime minister

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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