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AusNet $9.6b bid builds on M&A frenzy afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Fundies fret over peak iron ore Save Share A sharp fall in the iron ore price, as China tries to jawbone down the cost of commodities, has fund managers on tenterhooks about whether the price of Australiaâs biggest export has peaked. The iron ore price spiked to a record high of more than $US230 a tonne earlier this month, far surpassing the $US55 a tonne price that the government has pencilled in for next year. William Curtayne says the global uptick in construction supports steel and iron ore demand. Louise Kennerley But the spot price fell $US11.13, or 5.3 per cent, on Friday to $US200.72, according to Fastmarkets MB, while S&P Global Platts said its key iron ore index fell $US10.75 or 5.1 per cent to $US200.10 on Friday. ....
Credit Suisse revolt to remove risk chief, 53,after Archegoes and Greensill scandals dailymail.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymail.co.uk Daily Mail and Mail on Sunday newspapers.
6 Min Read ZURICH (Reuters) -Credit Suisse said on Tuesday it will take a 4.4 billion Swiss franc ($4.7 billion) hit from dealings with Archegos Capital Management, prompting it to overhaul the leadership of its investment bank and risk division. FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann The scandal-hit bank now expects to post a loss for the first quarter of around 900 million Swiss francs. It is also suspending its share buyback plans and cutting its dividend by two thirds. Switzerland’s No. 2 bank, which has dumped over $2 billion worth of stock to end exposure to Archegos, said Chief Risk Officer Lara Warner and Brian Chin, the bank’s investment banking head, were stepping down following the losses. ....
Switzerland s No. 2 bank, which has dumped over $2 billion worth of stock to end exposure to Archegos, said Chief Risk Officer Lara Warner and Brian Chin, the bank s investment banking head, were stepping down following the losses ....