Is the end nigh?

uk.investing.com

Credit Suisse shares suspended, banking crisis deepens By Proactive Investors

Credit Suisse shares suspended, banking crisis deepens
uk.investing.com uk.investing.com

Saudi National Bank’s chairman (Credit Suisse’s largest investor) Ammar Al Khudairy ruled out injecting further funds into Credit Suisse (SIX:CSGN) if there was another call for additional liquidity.

Al Khudairy told Reuters that Saudi National Bank cannot provide the Swiss bank with more financial assistance, saying: “We cannot because we would go above 10%. It’s a regulatory issue.”
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Credit Suisse is designated by the Financial Stability Board, an international body that monitors the global financial system, as one of the world's globally systemic important banks. This means regulators believe its uncontrolled failure would lead to ripples throughout the financial system not unlike the collapse of Lehman Brothers 15 years ago.
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Let it fail. I don't care if trump and russia lose everything.
 
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www.cnbc.com

The $17 billion wipeout of Credit Suisse bondholders has not gone down well in Europe

Credit Suisse’s additional tier one bonds are set to be wiped out following the struggling bank’s takeover by UBS.
www.cnbc.com www.cnbc.com

The Swiss regulator FINMA announced Sunday that the so-called additional tier-one bonds, which are widely regarded as relatively risky investments, will be written to zero as part of the deal.

The move has angered Credit Suisse AT1 bondholders as their investments have seemingly been lost, while shareholders will receive payouts as part of the takeover. Usually, equity investments would be classed as secondary to AT1 bonds.

Therefore, the decision “can be interpreted as an effective subordination of AT1 bondholders to shareholders,” Goldman Sachs’ credit strategists said in a research note published Sunday.

“It also represents the largest loss ever inflicted to AT1 investors since the birth of the asset class post-global financial crisis,” they added.

However, FINMA’s move should not come as a shock, Elisabeth Rudman, global head of financial institutions at DBRS Morningstar, told CNBC’s “Squawk Box Europe” on Monday.

“AT1s are there to absorb losses, so it’s not a surprise,” she said. “They’ve done what they were supposed to do.”
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Banks worldwide are about to have AT-1 investors flee. They'll probably try to keep it under wraps as it's happening.
 
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Single business buildings will be hit the worst.
Those professional malls (which lost during COVID) should be able to offer downsizing businesses rentable area.

And larger building aren't meant to be changed over to appt/condo as the plumbing is completely different as is electrical.
 
torontosun.com

McDonald's temporarily shuts U.S. offices, prepares layoff notices: Report

McDonald's is reportedly temporarily closing its U.S. offices this week as it prepares to inform corporate employees about layoffs.
torontosun.com torontosun.com

In an internal email last week to U.S. employees and some international staff, McDonald’s asked them to work from home from Monday through Wednesday so it can deliver staffing decisions virtually, the report said. It is unclear how many employees will be laid off.
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In other words "We don't want any of you shooting us for firing you for no reason other then profit"




edit: missed word
 
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