Credit Suisse Taps Investors for Cash After Archegos Loss Widens

Credit Suisse said it would issue new shares after losses from Archegos Capital Management wiped out a strong first quarter, highlighting the damage caused by the collapse of the investment firm.

 
Credit Suisse's Exposure to Archegos Investments Grew to More Than $20 Billion

Credit Suisse amassed more than $20 billion of exposure to investments related to Archegos Capital Management, but the bank struggled to monitor them before the fund was forced to liquidate many of its large positions.

 
Pernod Ricard Sales Growth Beats Expectations

Pernod Ricard said its sales rose to EUR1.96 billion in the third quarter, ahead of estimates and forecast growth of around 10% in organic profit for the year.

 
Apple, Google Come Under Fire at Senate Antitrust Hearing

Lawmakers and mobile app companies took aim in a hearing focused on competition concerns about the tech giants' power over their smartphone ecosystems.

 
Corporate Tech Leaders Are Mixed on EU Artificial Intelligence Bill

Some corporate technology leaders say a proposed clampdown by European regulators on the use of artificial intelligence will run up costs and stifle innovation, just as companies are starting to unlock its potential.

 
Pfizer Identifies Fake Covid Shots Abroad as Criminals Exploit Vaccine Demand

In Mexico, about 80 people received fraudulent doses, and in Poland authorities recovered vials containing antiwrinkle drugs.

 
Whirlpool CFO Faces Higher Costs as Component Shortages Force Production Line Shifts

The appliance maker is facing a reduced supply of key components, including microchips from China and Taiwan. It is also running low on plastic as a result of a winter storm in Texas, which negatively affected the chemicals industry.

 
SmartRent to Merge With Fifth Wall SPAC in $2.2 Billion Deal

The seller of smart home-technology systems has also attracted a $155 million investment from a group including Blackstone, Starwood Capital and Lennar.

 
Hertz Proposes Shareholder Payout as Part of Bankruptcy-Exit Plan

Hertz Global Holdings said an improved bankruptcy plan would provide some value to equity holders, vindicating the individual traders who have insisted the company is worth something despite its bankruptcy filing.

 
Walmart Is Pulling Plug on More Robots

The retailer has been phasing out automated pickup towers for online orders as curbside services have become popular.

(END) Dow Jones Newswires

April 22, 2021 03:15 ET (07:15 GMT)

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