Credit Suisse CS 0.19% Group AG is expected to pay around $500 million after losing a lawsuit brought by a Georgian billionaire who claimed the bank mismanaged his money. Credit Suisse has spent years fending off claims from Bidzina Ivanishvili, a former prime minister of Georgia. He sued the bank in Bermuda and Singapore for […]
Steel and mining giant Severstal PAO said Citigroup Inc. has frozen interest payments to investors in the company’s bonds, setting up what would likely be the first debt default by a major Russian issuer since Moscow invaded Ukraine. Severstal said Wednesday that payment was frozen because of “regulatory investigations” and that it was committed to […]
Tsingshan Holding Group said large banks agreed to continue discussing a potential settlement with the Chinese metals producer, whose wrong-way bets led to a dayslong suspension of nickel trading on the London Metal Exchange. JPMorgan Chase JPM 0.99% & Co. and other banks are seeking billions of dollars that Tsingshan owes them for trades the […]
Some of the world’s biggest banks worked over the weekend to resolve a crisis in the nickel market that leaves them on the hook for billions of dollars owed by a Chinese metals giant. JPMorgan Chase JPM -2.25% & Co., Standard Chartered STAN -0.41% PLC and BNP Paribas HER BNPQY -3.09% were among the banks […]
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