Investors sued Credit Suisse. The bank and its managers are accused of failing to disclose all risks from business related to the sanctioned Russian billionaires. A group of individual investors and organizations filed a class action lawsuit against Swiss bank Credit Suisse and some of its managers, accusing them of violating securities disclosure laws, law firm Pomerantz said. The suit was filed...

According to Bloomberg, the Abu Dhabi National Oil Business (ADNOC) has purchased a 25% share in the Austrian chemical company Borealis AG from the Emirati investment group Mubadala Investment. The deal's financial specifics aren't known. This purchase is part of a larger UAE initiative to attract foreign investment and technology, as well as development of new industries and manufacturing. ADNOC...

Boeing Co., based in the United States, one of the world's major producers of aircraft, spacecraft, and military equipment, reported a net loss of $1.242 billion in the third quarter, more than double its loss a year ago, according to corporate data. Experts expected a loss of $0.19, diluted loss per share was $2.06 versus $0.92 for January-March 2021. Adjusted loss per share was $2.75. At...

General Electric Co. (GE), a diversified technology firm based in the United States, reported a roughly five-fold drop in first-quarter loss, according to the company's financial records. For the period, the diluted loss per share was $0.99, compared to $2.61 a year ago. The period's revenue was $17.04 billion, down marginally from $17.071 billion the previous year. Analysts expected a $16.9...

The board of directors of Alphabet, the parent company of Google, has approved a $70 billion buyback from investors. According to CNBC, Alphabet, Google's parent company, stated that its board of directors has approved a $70 billion share repurchase from investors, marking a substantial acceleration in the firm's aim to return investment to shareholders through share buybacks. When deciding on...

According to the United Kingdom and Hong Kong-based HSBC Holdings plc, the bank saw its first-quarter net profit drop 26.8% to $3.443 billion from since 2021. Diluted earnings per share were $0.14, down from $0.19 in January-March previous year. The banking group's revenue declined 4% to $12.464 billion over the period. Net interest income increased 7.4% year over year to $6.997 billion. Profit...

China's second-largest cellphone maker Honor Device Co. is seeking new sources of financing ahead of an IPO in 2022, Bloomberg says. Honor Device Co. wants to raise capital to expand ahead of its initial public offering, sources familiar with the discussions told the agency. According to them, former Huawei Technologies Co. is in talks with investors about a round of pre-IPO financing. The...

According to papers on the US Securities and Exchange Commission's website, Elon Musk, the American entrepreneur and founder of SpaceX and Tesla, is willing to pay $46.5 billion for Twitter and wants to begin negotiations right away to obtain a definitive deal. Morgan Stanley Senior Funding and numerous other financial institutions have agreed to lend Musk a total of $25.5 billion (with $12.5...

US electric car maker Tesla resumed production at its Shanghai plant on Tuesday after city authorities issued guidelines to restore production after a general lockdown due to the largest COVID-19 outbreak, China Daily reported on Wednesday. The plant's employees, numbering about 8,000, returned to their workplaces as early as Monday and Sunday, making it possible to resume work in the battery and...