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On June 11th, iCapital analyst Guillermo Santos Aramburo stated in a report that the European Central Banks expected 25 basis point rate hike on Thursday is more of a symbolic move than a substantive one, aimed at maintaining its credibility in combating inflation. The partner stated, "Unless the market interprets it as the beginning of a series of rate hikes (and potentially larger ones), this hike will have limited impact on the market, but such an interpretation is unlikely." He pointed out that in this context, floating-rate fixed-income investments will benefit from these rate hikes.German Defense Minister: If Europe has a gap in deep strike capability, we will try to fill it.A senior NATO military official said: “What we see in Ukraine and the Middle East is that everything hinges on data—whoever controls the data can use the means of warfare more effectively.”Chow Tai Fook (01929.HK): The companys retail sales increased by 14.7% year-on-year from April 1 to May 31.June 11th Futures News: The following are the warehouse receipts and changes for various commodities traded on the Shanghai Futures Exchange: 1. International copper futures warehouse receipts: 13,133 tons, unchanged from the previous trading day; 2. Alumina futures warehouse receipts: 413,053 tons, a decrease of 2,994 tons from the previous trading day; 3. Aluminum futures warehouse receipts: 487,290 tons, a decrease of 1,197 tons from the previous trading day; 4. Copper futures warehouse receipts: 97,391 tons, an increase of 1,304 tons from the previous trading day; 5. Rebar warehouse futures warehouse receipts: 35,153 tons, unchanged from the previous trading day; 6. Stainless steel warehouse futures warehouse receipts: 93,479 tons, an increase of 144 tons from the previous trading day; 7. Fuel oil futures warehouse receipts: 31,160 tons, a decrease of 3,000 tons from the previous trading day; 8. Nickel futures warehouse receipts: 93,100 tons, an increase of 1,968 tons from the previous trading day; 9. Silver futures warehouse receipts: 895,265 kg, down 21,115 kg from the previous trading day; 10. Petroleum asphalt plant warehouse futures warehouse receipts: 96,220 tons, unchanged from the previous trading day; 11. Petroleum asphalt warehouse futures warehouse receipts: 21,120 tons, unchanged from the previous trading day; 12. TSR20 rubber futures warehouse receipts: 27,721 tons, unchanged from the previous trading day; 13. Natural rubber futures warehouse receipts: 150,830 tons, unchanged from the previous trading day; 14. Hot-rolled coil futures warehouse receipts: 424,497 tons, down 5,366 tons from the previous trading day; 15. Pulp warehouse futures warehouse receipts: 235,809 tons, unchanged from the previous trading day; 16. Pulp mill warehouse futures warehouse receipts: 20,000 tons, unchanged from the previous trading day; 17. Lead futures warehouse receipts totaled 58,612 tons, an increase of 399 tons from the previous trading day; 18. Low-sulfur fuel oil warehouse receipts were 0 tons, unchanged from the previous trading day; 19. Medium-sulfur crude oil futures warehouse receipts totaled 2,961,000 barrels, unchanged from the previous trading day; 20. Butadiene rubber futures warehouse receipts totaled 28,510 tons, a decrease of 210 tons from the previous trading day; 21. Tin futures warehouse receipts totaled 10,128 tons, a decrease of 536 tons from the previous trading day; 22. Zinc futures warehouse receipts totaled 117,058 tons, an increase of 4,379 tons from the previous trading day; 23. Gold futures warehouse receipts totaled 111,663 kilograms, unchanged from the previous trading day.

Credit Suisse's Investment Bank Piques Saudi Crown Prince's Interest - WSJ

Charlie Brooks

Dec 05, 2022 12:00

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The Wall Street Journal claimed on Sunday that Saudi Arabia's crown prince and a U.S. private-equity company run by a former Barclays (LON:BARC) CEO were interested in investing at least $1 billion in Credit Suisse's new investment banking business.


According to a rumor, Crown Prince Mohammed bin Salman is considering an investment of $500 million to assist the new subsidiary of CS First Boston (CSFB) and its CEO-designate Michael Klein. A Saudi business has not yet submitted a formal proposal to the bank.


According to a story citing informed sources, additional money could come from U.S. investors such as former Barclays CEO Bob Diamond's Atlas (NYSE:ATCO) Merchant Capital.


Credit Suisse did not immediately reply to a request for comment.


In an effort to reinvigorate a struggling business, Credit Suisse said in October that it will restructure its investment bank by restoring the First Boston moniker. CSFB was led by a member of the bank's board of directors.


Saudi National Bank (SNB), which is controlled by the Saudi Arabian government, had previously pledged to invest up to 1.5 billion Swiss francs ($1.60 billion) in Credit Suisse for a stake of up to 9.9%, and indicated that it may support the standalone CSFB, which will operate as an independent capital markets and advisory bank with headquarters in New York.


Since 1978, when they joined together to operate on the London bond market, Credit Suisse and the First Boston brand have maintained a relationship. Later, they combined to form CS First Boston, but regulatory issues and the departure of renowned bankers led to a difficult era.


Several bankers and investors have expressed concern regarding the ability of a sinking market to regain its former glory.