A market rally attempt is reeling as the indexes plunged on Friday's jobs report. Tesla, AMD and On Semi sold off. Read More...
Reuters
Credit Suisse pays down debt to calm investors
ZURICH (Reuters) -Credit Suisse will buy back up to 3 billion Swiss francs ($3 billion) of debt, an attempt by the Swiss bank to show its financial muscle and reassure investors concerned about the lender’s overhaul and how much it may cost. One of the largest banks in Europe, Credit Suisse is trying to recover from a string of scandals, including losing more than $5 billion from the collapse of investment firm Archegos last year, when it also had to suspend client funds linked to failed financier Greensill. Credit Suisse shares gained as much as 3% in early Friday trading, while the price of its euro-denominated bonds rose.
