From Breakingviews - Credit Suisse finds new genre of loose crisis talk
Lehmann’s comments may leave him sufficient wiggle room. He could argue that the outflows had indeed stabilised when he spoke, but then deteriorated again afterwards. And proving an intent to mislead may be difficult.
Either way, the usual argument for speaking up is to counteract negative rumours, which in Credit Suisse’s case swirled on social media. The typical counterpoint is that customers can take fright at anything that sounds like a liquidity problem, even if it’s explicitly denied. Lehmann’s experience flags another danger: successfully soothe customers and investors, and you could be accused of misleading them.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exclusive: Swiss financial watchdog reviewing Credit Suisse chairman's comments - sourcesSwiss financial regulator Finma is reviewing remarks made by Credit Suisse Group Chairman Axel Lehmann about outflows from the lender having stabilized in early December, two people with knowledge of the matter told Reuters.
Read more »
Credit Suisse shares fall after Swiss regulator reportedly probes chairman's remarks on outflowsCredit Suisse Group’s stock fell almost 6% on Tuesday morning following a Reuters report that Swiss financial regulator Finma is looking into comments made...
Read more »
Tax refunds down 11% from last year: Here’s the average refundThe lower refunds are due mostly to changes involving the Child Tax Credit, Earned Income Tax Credit and Child and Dependent Care Credit, as well as deductions allowed for charitable contributions.
Read more »
Breakingviews - Even a weak Russia is a problem for EuropeA year after Putin invaded Ukraine, Europe seems destined for further economic decoupling from Russia. But extra defence spending and rebuilding costs will be minor compared to a scenario where Moscow crushes Kyiv, says Hugodixon
Read more »
Breakingviews - Ukraine yet to make defence a safe investor havenThe West’s rush to supply weapons to war-torn Ukraine looks like a golden opportunity for defence companies to exit the ESG doghouse. Russia’s invasion and rising defence budgets are pushing some market players to engage with companies in the $485 billion military equipment industry that previously failed to pass muster on environmental, social and governance grounds. Despite pressing calls from President Volodymyr Zelenskiy for more tanks and missiles at last week’s Munich Security Conference, however, the sector will largely remain a no-go investment zone.
Read more »