Swiss bank Credit Suisse on Wednesday reported a 34 percent drop in first-quarter net profit from the same period last year, worse than analysts had expected.» Read More
*Originally planned to sell 20 mln ADSs at $17- $19/ shr. April 16- China's Weibo Corp will be valued at a lower-than-expected $3.46 billion when it goes public on the Nasdaq on Thursday, amidst concerns about the microblogging service's slowing user growth and the country's highly censored media environment.
April 16- China's Weibo Corp priced its initial public offering at $17 per American Depositary Share at the bottom of its planned range, an underwriter told Reuters, valuing the microblogging service at $3.46 billion. The Twitter- like service, owned by web portal Sina Corp, sold 16.8 million American Depositary Shares in the offering, raising $285.6 million.
*Credit Suisse Q1 net profit 859 mln Sfr vs poll 1.155 bln. ZURICH, April 16- Credit Suisse's said on Wednesday first-quarter net profit fell by more than a third due to a big drop in bond trading revenues, increasing pressure on CEO Brady Dougan to make deeper cuts to its investment banking business.
*Euro STOXX 50 up 1 pct, moves back above 50- day moving average. PARIS, April 16- European shares rose on Wednesday, reversing the previous session's slide as economic growth data from China came a touch above forecasts. French utilities Veolia Environnement and Suez Environnement both surged around 3 percent, boosted by merger speculation.
*Euro STOXX 50 up 0.9 pct, moves back above 50- day moving average. *Credit Suisse, Danone drop after posting lower results. PARIS, April 16- European shares rose early on Wednesday, reversing the previous session's losses as data showed economic growth in China a touch above forecasts, while gains in Tesco also lifted markets.
FRANKFURT, April 16- Daimler is set to revive Maybach, a brand once coveted by oligarchs, rap stars and royals, to woo a growing class of ultra-wealthy clients in Asia and the United States, a person familiar with the company's plans said.
FRANKFURT, Germany— Swiss bank Credit Suisse says its net profit fell 34 percent in the first quarter, more than expected, as bond-market woes hurt earnings at its investment banking business. Profit dropped to 859 million Swiss francs from 1.303 billion francs in the same quarter a year ago.
April 15- New York state's top financial regulator has ordered Credit Suisse to turn in the employment records of its former New York head as part of a widening investigation into potential tax evasion involving the Swiss bank, a source close to the matter told Reuters.
*Prices gain as Ukraine tensions spark safety buying. Treasury debt prices gained on Tuesday as rising tensions in Ukraine sparked a safety bid for U.S. bonds, and a weak manufacturing survey for New York state pointed to sluggish economic momentum.
LONDON, April 15- The tens of billions of euros euro zone banks set aside for loan losses in their latest annual accounts may have substantially reduced the chance of institutions failing ECB stress tests in the next few months.
April 14- Credit Suisse AG has hired Jim Spencer from Lazard Ltd as head of financial institutions investment banking for the Americas, according to an internal memo seen by Reuters on Monday. Spencer will join Credit Suisse in October as a managing director based in New York. At Lazard, Spencer headed its U.S. banks advisory practice.
*Glencore says proceeds will materially de-leverage balance sheet. Glencore agreed to sell Las Bambas to secure approval from China's competition authorities for its takeover of miner Xstrata because Beijing feared the merged group would have too much power over the copper market.
Glencore said it had sold its interest to a consortium owned 62.5 percent by the Hong Kong- listed MMG Ltd, 22.5 percent by Guoxin International Investment Corp Ltd and 15.0 percent by Citic Metal Co Ltd.. Glencore agreed to sell the mine in return for Beijing's blessing for its $35 billion purchase of Xstrata.
NEW YORK, April 13- The wrenching selloff in U.S. high-growth technology and biotech shares could leave investors braced for more than a minor pullback when earnings pick up speed this week.
The talks within the SEC are at an early stage, and the pilot program would need to be approved by the full five-member commission, as part of an order instructing the public exchanges to carry out the study. The results of any pilot would have to be effective enough to prompt the SEC to change its market rules.
Goldman Sachs& Co, Morgan Stanley and Credit Suisse are the lead underwriters for the IPO, Zendesk said in a filing with the U.S. Securities and Exchange Commission. Charles River Ventures, an early investor in Twitter Inc, is Zendesk's biggest shareholder with a 24.5 percent stake, followed by Benchmark Capital Partners LP that has an 18.7 percent stake.
April 10- Cloud-based software maker Zendesk Inc filed with U.S. regulators on Thursday for an initial public offering of up to $150 million. Goldman Sachs& Co, Morgan Stanley and Credit Suisse are the lead underwriters for the IPO, Zendesk said in a filing to the U.S. Securities and Exchange Commission.
MUMBAI, India— India's stock market has hit several new highs in the last month and the once-struggling rupee has strengthened on signs that the opposition Bharatiya Janata Party will win the largest bloc of seats in parliamentary elections that began this week and run until May 12.
*FamilyMart tumbles after earnings report. TOKYO, April 9- Japan's Nikkei share average hit a two-week low on Wednesday morning after Bank of Japan Governor Haruhiko Kuroda's comments the previous day raised doubts over whether the BOJ will ease its policy stance anytime soon, sending the yen higher.
April 8- The initial public offering of La Quinta Holdings, owned by the Blackstone Group, was priced at $17 per share on Tuesday, valuing the hotel chain at about $2.1 billion. La Quinta's IPO raised $650 million, after its offering of 38.25 million shares was priced below an expected range of $18 to $21 a share.