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Amazon shares to rally another 15%, Credit Suisse says

“Amazon’s burgeoning cloud computing platform and central retail business should lead to a “steady and iterative” year for the company, according to Credit Suisse” writes Thomas Franck for cnbc.com. That implies more than 15 percent upside for shares over the next 12 months from Thursday’s close.Ju said that updates to the Credit Suisse estimates came after reviewing Amazon’s updated asset and cash flow figures for Amazon Web Services and retail operations, recently disclosed in a 10-K filing with the Securities and Exchange Commission.”E-commerce growth for the next two decades will…

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Credit Suisse gets license for wealth management business in Philippines

“HONG KONG (Reuters) – Credit Suisse Group AG said on Thursday it has received regulatory approval to launch its wealth management business in the Philippines, allowing the Swiss bank to tap the growing onshore wealth in the Southeast Asian country” writes Midwest Communications Inc for 95kqds.com. In the Philippines, Credit Suisse’s existing services include advisory on capital raising, liability management, M&A, and structured finance.Credit Suisse has received a license from the Securities and Exchange Commission and approval from the central bank, Bangko Sentral ng Pilipinas, to set up a representative…

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Buyer traffic rising as real-estate agents report concern over mortgage rates, inventory

“The monthly survey of real estate agents from Credit Suisse showed that an index of buyer traffic around the country rose 2 points to 50, on a scale where 50 indicates a neutral reading” writes Andrea Riquier for marketwatch.com. Just when you thought the housing market couldn’t get any hotter, the prospect of rising mortgage rates had buyers even more frenzied in March, according to a report out Friday.As always, there was great regional variety, but as Credit Suisse put it, agents’ commentary “remains centered on pent-up demand, especially in…

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Glass Lewis backs Credit Suisse management pay scheme

“Logo of Swiss bank Credit Suisse is seen in Winterthur Thomson Reuters ZURICH (Reuters) – Proxy adviser Glass Lewis recommended Credit Suisse shareholders approve top management pay at the group’s April 27 annual general meeting, despite retaining some concerns about the transparency of pay plans” reports businessinsider.com. “In the past two fiscal years, Glass Lewis has retained severe reservations in supporting the Company’s executive remuneration practices, as consistently high payouts did not seem to reflect the financial results,” the proxy adviser said in a report prepared for shareholders. “While we…

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Ex-president’s fate holds key to the direction of Brazil’s currency

“The Lula ruling, which is expected later Wednesday, will likely determine the near-term direction for Brazilian assets including its currency, the real USDBRL, -0.0150% wrote Credit Suisse trading strategists, including Shabab Jalinoos” writes Anneken Tappe for marketwatch.com. On Wednesday, Brazil’s Supreme Court is ruling on whether Luiz Inácio Lula da Silva will be allowed to run in the October election. Source: marketwatch.com Share This:

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Credit Suisse International has market manipulation lawsuit against it dismissed

“The order stipulates that CSI is no longer a party in the market manipulation case captioned Breakwater Trading LLC et al v” reports financefeeds.com. The Defendants are alleged to have violated their market integrity obligations and otherwise abused their positions of trust to their own ends.The order, filed earlier today with the New York Southern District Court, was signed by Judge Paul Gardephe on March 23, 2018. They are accused to have conspired by, among other things, sharing confidential and competitively sensitive client order information to fix and otherwise manipulate…

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Credit Suisse CEO pay falls in 2017

“CEO Thiam of Swiss bank Credit Suisse awaits a news conference to present full-year results in Zurich Thomson Reuters ZURICH (Reuters) – Credit Suisse Chief Executive Tidjane Thiam earned 9.7 million Swiss francs ($10.26 million) in 2017, a 5.3 reduction over his prior-year compensation, Switzerland’s second-biggest bank said on Friday” reports businessinsider.com. The bank last year agreed to cut executive bonuses by 40 percent, including 2016 cash bonuses and 2017 share incentives, following shareholder dissent. Source: businessinsider.com Share This:

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Indians are ditching gold to invest in financial assets: Credit Suisse

“Indians hold a relatively low percentage of their total wealth in financial assets but that trend might be changing, according to a recent Credit Suisse survey” writes Akiko Fujita for cnbc.com. That was followed by life insurance, gold and property and finally stocks and mutual funds.He explained that in comparison, the Chinese put about 40 percent or more of their wealth in financial assets while in the U.S., it’s about 70 percent.The investment bank has released its latest version of a Emerging Consumer Survey that interviewed more than 14,000 respondents…

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February’s market jitters should be seen as a ‘wake-up call’: Credit Suisse

“Investors should see February’s market jitters as a wake-up call that some risks still exist in an otherwise strong economy, according to Credit Suisse’s global chief investment officer” writes Akiko Fujita for cnbc.com. A Goldilocks economy means economic conditions are neither too hot to suggest overheating, nor too cold to raise concerns.Dollar got a bit weak, long rates got a bit higher, yield curve got a bit steeper.Strobaek said the Fed’s moves were in line with the investment bank’s expectations — Credit Suisse predicted four rate hikes, including the one…

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Business costs must fall before e-commerce firms can succeed in India, CEO says

“The cost of doing business has to come down before e-commerce companies can succeed in India in the long run, according to the chief executive of a large retail group in the country” writes Akiko Fujita for cnbc.com. Biyani added that the Indian retail space was seeing a new strategy of online-to-offline, and offline-to-online, emerge.While Jeff Bezos’ company has aggressively invested in the Indian market, Flipkart could soon bolster its presence with the backing of another U.S. retail giant — Walmart. Source: cnbc.com Share This:

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