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November 22, 2024
 

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CREDIT SUISSE

A group of 14 investors filed a lawsuit Friday against Mitsubishi UFJ Morgan Stanley Securities, seeking to recover losses after Credit Suisse’s riskiest bonds sold to them turned worthless.
BUSINESS / Companies
Jun 28, 2024
MUFG unit sued again in Japan over Credit Suisse AT1 losses
The 14 plaintiffs are demanding a combined ¥1.37 billion ($8.5 million) in compensation.
Mitsubishi UFJ Morgan Stanley Securities sold Additional Tier 1 notes from Credit Suisse more aggressively than any other firm in Japan, with its sales making up about two-thirds of the notes taken up, which totaled ¥140 billion in value.
BUSINESS / Companies
Dec 26, 2023
MUFJ securities unit sued again over Credit Suisse AT1 bond losses
Mitsubishi UFJ Morgan Stanley Securities sold more than two-thirds of the Additional Tier 1 notes taken up in Japan.
Investors in Japan have filed a lawsuit against Mitsubishi UFJ Financial Group’s joint venture brokerage with Morgan Stanley, seeking to recover losses from Credit Suisse's riskiest debt.
BUSINESS / Markets
Sep 1, 2023
MUFG joint-venture brokerage sued over Credit Suisse AT1 sales
Investors are demanding ¥5.2 billion ($36 million) in compensation from Mitsubishi UFJ Morgan Stanley Securities.
Monex Group was sued on Thursday in what is believed to be the first lawsuit questioning the responsibility of a Japanese securities company over Credit Suisse AT1 bond losses.
BUSINESS / Companies
Jul 28, 2023
Japan’s Monex sued by client for Credit Suisse bond loss
The move marks a rare case of a financial institution being accused of responsibility for investor losses triggered by Switzerland’s move to wipe out the bonds.
Mizuho Financial Group has become the third Japanese megabank to sell Additional Tier 1 bonds after the collapse of Credit Suisse set off a global fire sale.
BUSINESS / Markets
Jul 20, 2023
Mizuho sells ¥261 billion of AT1 bonds after Credit Suisse turmoil
The lender joined Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group in issuing AT1 bonds this year, while the market in Europe is only just reopening.
Japan Times
BUSINESS / Markets
Jul 13, 2023
Credit Suisse AT1 fallout embroils more brokerages in Japan
Documents have raised questions over whether information over the risks associated with the product was properly disclosed to investors.
Japan Times
BUSINESS
Jun 28, 2023
UBS looks to cut around 35,000 jobs after emergency takeover of Credit Suisse
The cull of staff will dramatically worsen what was already a dismal year for financial sector jobs worldwide.
Japan Times
BUSINESS / Markets
Apr 25, 2023
Credit Suisse shows well capitalized banks can lose trust, Japanese official says
The Swiss lender succumbed to a crisis of confidence about a month ago, prompting the country’s authorities to step in to broker its sale to larger rival UBS Group.
Japan Times
BUSINESS
Apr 21, 2023
Credit Suisse AT1 bond writeoff hands $1 billion loss to Japan investors
It’s 'regrettable” that the fallout from Credit Suisse’s woes affected investors in Japan, Finance Minister Shunichi Suzuki said.
Japan Times
BUSINESS / Companies
Mar 28, 2023
Nomura cautious on Credit Suisse hiring as rivals grab talent
While Japan’s biggest brokerage could end up getting some Credit Suisse bankers as it continues to invest in its businesses, it isn’t 'systematically” targeting the Swiss bank’s employees.
Japan Times
BUSINESS
Mar 22, 2023
U.S. regional banks and regulators try to soothe depositors’ fears
Treasury Secretary Janet Yellen has expressed confidence in the nation’s banks and suggested that the government would step in to protect smaller lenders if needed.
Japan Times
BUSINESS / Markets
Mar 21, 2023
2008 bank crisis survivors remember how fast dominoes can fall
Comparisons to that episode have become a little harder to ignore, although authorities are better equipped today to deal with stress in the financial system.
Japan Times
BUSINESS / Markets
Mar 20, 2023
Asian markets downcast despite UBS takeover of Credit Suisse
The 225-issue Nikkei average, Hong Kong’s Hang Seng and Australia’s S&P/ASX were all down, as turbulence in the banking sector continued to cast a shadow.
Japan Times
BUSINESS / ANALYSIS
Mar 20, 2023
UBS swallows doomed Credit Suisse, casting shadow over Switzerland
The transaction — the first rescue of a global bank since the financial crisis of 2008 — grants enormous clout to UBS, ridding it of its main rival.
Japan Times
BUSINESS
Mar 20, 2023
The key takeaways from UBS Group’s historic Credit Suisse deal
UBS is paying 3 billion francs ($3.24 billion) for its battered rival in a deal aimed at avoiding a broader financial crisis.
Japan Times
BUSINESS / Economy
Mar 18, 2023
BOJ and government vow cooperation amid global market turmoil
Officials met for the first time since September to affirm that they will work together to closely watch any impact on the country's financial system from global market turmoil.
Japan Times
BUSINESS
Mar 17, 2023
Credit Suisse got its lifeline. Now it needs to win back clients.
The battered bank received a $54 billion loan from the Swiss government after net outflows hit $119 billion in the 4th quarter.
Japan Times
BUSINESS / Markets
Mar 16, 2023
From Credit Suisse to Silicon Valley Bank, lenders' woes abroad rattle Asian markets
In Tokyo, shares in mega-banks, the Nikkei average and the broader Topix were all down Thursday amid fears of a banking crisis.
Japan Times
BUSINESS
Mar 16, 2023
Credit Suisse secures $54 billion lifeline as authorities rush to prevent global bank crisis
The Swiss bank's announcement helped stem heavy selling in financial markets in Asian morning trade on Thursday, following torrid sessions in Europe and the United States overnight.
Japan Times
COMMENTARY / World
Dec 14, 2022
Bank runs just aren’t what they used to be
The collapse of the FTX crypto exchange and the flood of assets out of lenders like Credit Suisse are not the same as the bank runs of years gone by and are much more benign in comparison.
Two of America’s biggest debt holders are dumping Treasurys
The U.S. Treasury building in Washington. Investors in Japan and China sold a pile of U.S. debt in the last quarter, just before the U.S. presidential election.
Russia fired experimental ballistic missile at Ukraine, Putin says
Ukrainian firefighters work on a spot following an airstrike in Dnipro on Thursday.
Ishiba aggravates his own political failures with diplomatic faux pas
Prime Minster Shigeru Ishiba is greeted at the APEC summit in Lima by Canadian Prime Minister Justin Trudeau on Friday. The Japanese leader was criticized for remaining seated while meeting several world leaders at the event.
Japan's 3.31 million visitors in October set monthly record
Kiyomizu Temple in Kyoto in December 2023. Famous autumn leaf colors contributed to increased tourism demand last month from many markets across Asia, Europe and North America, the Japan National Tourism Organization has said.
Japan ranks last in romance satisfaction for second straight year
In a survey of 31 countries, Japan ranked last in terms of those who felt loved, with just 51% of respondents saying so.
The slow-burn success of ‘A Samurai in Time’
A 19th-century warrior gets struck by lightning and wakes to find himself in 21st-century Kyoto in Junichi Yasuda’s surprise hit “A Samurai in Time.”
Around a quarter of Japan married couples in their 20s met through dating apps
A survey released by an organization promoting “Good Couples Day” shows that 24% of couples in their 20s met their marriage partner through a dating app.
'Tokyo Swindlers': Get deep into the minds of real estate con artists
In Ko Shinjo's "Tokyo Swindlers," a group of con artists manipulates real estate giants into falsified deals within the highly competitive, quick market.
Japan, U.K. and Italy discuss inviting more countries to joint fighter project
A new concept model of a next-generation fighter jet to be jointly developed by Japan, Britain and Italy is on display in Farnborough, Hampshire, in July.
Haruki Murakami's 'The City and Its Uncertain Walls' gives deep deja vu
For “The City and Its Uncertain Walls,” translated into English by Philip Gabriel, Haruki Murakami confronts the ghosts who won't leave him alone.

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