Credit Suisse analyst John Walsh raised the price target on Matterport Inc to $34 from $25, implying a 25 percent upside, and kept an Outperform rating on the shares. The analyst is removing his previous split multiple valuations for Matterport as he expects 86 percent of revenue to be Annual Recurring Revenue (ARR) in 2025….
Credit Suisse Bumps up Matterport Price Target by 36 percent, Thanks to Apple
Credit Suisse Third Quarter Net Profit Falls 21 Percent, Sees Fourth Quarter Loss
ZURICH—Credit Suisse posted a 21 percent fall in third-quarter net profit to 434 million Swiss francs ($476 million), hit by a higher tax rate and a 214 million Swiss franc charge to settle allegations of corruption surrounding loans to Mozambique it helped arrange. It said it expected an impairment in the fourth quarter of around…
Embattled Credit Suisse to Present Strategy Update on Thursday
ZURICH—Credit Suisse Group will provide an update on its group strategy review on Thursday following a presentation of the Swiss bank’s third-quarter results, it said on Monday. Chairman Antonio Horta-Osorio, who joined the bank in April from Britain’s Lloyds, has promised a new strategy for Switzerland’s second-largest lender and a review of the bank’s risk…
Credit Suisse Looks to Recoup Supply Chain Finance Fund Recovery Costs
ZURICH—Credit Suisse is looking to recoup the external costs it is incurring to recover money for investors in its insolvent supply chain finance funds linked to Greensill, the Swiss bank said on Thursday. “The recovery work that (Credit Suisse Asset Management) CSAM is doing on behalf of fund investors inevitably incurs external expenses, which are…
Credit Suisse Extends Time-Off Benefits for Swiss Staff
ZURICH—Credit Suisse will extend time off for childcare and holidays and will let senior managers take sabbaticals under new rules for Swiss staff to take effect next year, Switzerland’s second-biggest bank said on Monday. “Helping parents with childcare and encouraging staff to regularly take time off to rest are a priority for Credit Suisse,” it…
Credit Suisse Board Backs CEO, Chairman Tells SonntagsBlick
ZURICH—Credit Suisse’s board of directors is convinced Chief Executive Thomas Gottstein is the right person to strategically realign the bank by curbing risk appetite, the Swiss bank’s chairman said in a newspaper interview published on Sunday. Asked whether he was planning to replace Gottstein as CEO or take over the operational lead of the bank…
Chinese Artist Knocked by China Corruption in Big Western Banks and Museums
Commentary The Chinese performance artist Ai Weiwei has never been convicted of a crime. Yet, Credit Suisse, one of the world’s largest banks, cited his “criminal record” in China, according to Reuters, to justify closing his bank account. Meanwhile, pro-Beijing politicians in Hong Kong are raising a ruckus about Ai’s art, which they claim violates…
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