Archegos Losses Top $10 Billion as UBS, Nomura Add to Damage
Margot Patrick and Quentin Webb, 27 April 2021
The battering to Wall Street banks from Archegos Capital Management topped $10 billion after UBS Group AG and Nomura Holdings, Inc. reported fresh hits caused by the fund’s collapse.
UBS, Switzerland’s biggest bank by assets, said it lost $774 million following Archegos’s implosion, a bigger hit than analysts expected, deepening the damage caused by the fund. Continue reading “Article: Archegos Losses Top $10 Billion as UBS, Nomura Add to Damage”
Major Banks Suspected of Collusion in Bond-Rigging Probe
Patricia Kowsmann and Margot Patrick, 20 December 2018
The European Commission suspects Deutsche Bank AG , Credit Suisse Group AG, Crédit Agricole SA and another global bank of colluding to manipulate a multi-trillion-dollar government-backed bond market, escalating a long running probe.
The European Union’s executive arm, which opened the investigation almost three years ago, said in a statement Thursday that banks will now lay out their defenses. If found guilty, they could face a fine of up to 10% of their annual world-wide revenue. Continue reading “Article: Major Banks Suspected of Collusion in Bond-Rigging Probe”