Galaxy Digital Announces Second Quarter 2022 Financial Results

Monday, 8 August 2022, 13:00:00
Net comprehensive loss of $554.7 million against digital asset price declines within quarter Partners” Capital increased 23% versus second quarter 2021 to $1.8 billion The Company maintains a strong liquidity position of $1.5 billion NEW YORK , Aug. 8, 2022 /CNW/ – Galaxy Digital Holdings Ltd. (TSX: GLXY ) (“Galaxy Digital”, “Galaxy”, the “Company” or “GDH Ltd.”) today released financial results for the three and six months ended June 30, 2022 for both itself and Galaxy Digital Holdings LP (the “Partnership” or “GDH LP”). “I am proud of Galaxy”s outperformance during a challenging market and macroeconomic environment. Prudent risk management, along with our commitment to exacting credit standards, allowed us to maintain over $1.5 billion in liquidity, including over $1.0 billion in cash, said Michael Novogratz , Founder and CEO of Galaxy Digital. “We remain in strong position to weather prolonged volatility, and to take advantage of strategic opportunities to grow Galaxy in a sustainable manner.” Select Financial Highlights for the Second Quarter 2022 Net comprehensive loss was $554.7 million , compared to a $182.9 million loss in the prior year period.
— Benzinga

Credit Suisse says it has no big exposure to Mexico”s Credito Real

Saturday, 6 August 2022, 11:00:37
https://www.investing.com/news/stock-market-news/credit-suisse-says-it-has-no-big-exposure-to-mexicos-credito-real-2865754
— Investing.com

Credit Suisse says it has no big exposure to Mexico”s Credito Real

Saturday, 6 August 2022, 11:00:30
Credit Suisse is not exposed to any large losses among lenders to embattled Mexican firm Credito Real , the Swiss bank said on Saturday, contradicting earlier media reports.
— Reuters

Credit Suisse says it has no big exposure to Mexico’s Credito Real

Saturday, 6 August 2022, 10:49:16
ZURICH — Credit Suisse is not exposed to any large losses among lenders to embattled Mexican firm Credito Real, the Swiss bank said on Saturday, contradicting earlier media reports. Mexican newspaper El CEO citing documents said Credit Suisse is owed over $100 million by Credito Real, which has begun bankruptcy proceedings over $2.6 billion in […]
— National Post

Credit Suisse Set To Slash Thousands Of Jobs Despite Handing Out Hundreds Of Millions To Retain Top Talent

Friday, 5 August 2022, 12:55:00
Credit Suisse Set To Slash Thousands Of Jobs Despite Handing Out Hundreds Of Millions To Retain Top Talent Just days after it was reported that Credit Suisse was handing out hundreds of millions to retain talent, the firm is now reportedly mulling mass layoffs, with “thousands of roles globally” at risk of being cut. The bank is looking to cut its overall cost base by $1 billion, Bloomberg reported this week. This could include an “aggressive plan” to reduce its headcount of more than 51,000 workers. The bank is “examining inefficiencies in the bank’s middle and back office in addition to the efforts to reshape its investment bank,” the report says, and is expected to finalize plans for the cuts over the next two quarters. Several thousand roles could be cut over a number of years, according to people familiar with the matter. The bank told Bloomberg: “We have said we will update on progress on our comprehensive strategy review when we announce our third quarter earnings; any reporting on potential outcomes before then is entirely speculative.” It is expected to be the biggest round of cuts since former chief executive officer Tidjane Thiam cut about 6,000 positions in 2016 after the firm posted unexpected losses on some trading positions.
— Zero Hedge