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Credit Suisse “won’t be next Lehmen Brothers”

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Analysts believe Credit Suisse will remain under pressure in the near term, but caution against comparisons to Lehman Brothers.

The Swiss bank’s shares briefly sank to an all-time low this week while credit default swaps hit a record high, as the market’s concerns about the bank’s future became abundantly clear.

As Credit Suisse takes steps to shore up its finances, concerns remain about its exposure to the volatile markets.

The company raised $5.3 billion from strategic investors earlier this year.

Lehman Brothers collapsed in 2008 after becoming embroiled in the subprime mortgage crisis, and analysts believe that Credit Suisse is facing similar challenges.

But some experts believe that Credit Suisse is in a stronger position than Lehman Brothers was, and that it is unlikely to face the same fate.

Credit Suisse’s shares have recovered somewhat from the previous session’s low, but are still down more than 53% on the year.

The bank’s share price is down more than 73% over the past five years, and such a dramatic plunge has led to market speculation about consolidation.

All three major credit ratings agencies — Moody’s, S&P and Fitch — now have a negative outlook on Credit Suisse.

In response, a U.S. investment research company lowered its price target for the stock to 3.50 Swiss francs per share.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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How Elon Musk built his empire

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A plane arrives in China. On board, one of the world’s richest men. He’s come to convince authorities that he should be allowed to set up a brand new factory.

He is Elon Musk.

And this is his first trip to China in three years.

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Amazon employees walk out to protest office policies

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Staff at warehousing giant Amazon have walked off the job to protest the company’s return-to-office program

Over 1,900 Amazon employees pledged to protest globally over proposed changes to the company’s climate policy, layoffs and a return-to-office mandate.

The activist group behind the rally is known as Amazon Employees for Climate Justice (AECJ), who are seeking a greater voice for employees.

“Our goal is to change Amazon’s cost/benefit analysis on making harmful, unilateral decisions that are having an outsized impact on people of color, women, LGBTQ people, people with disabilities, and other vulnerable people,” organisers said.

Over 100 people gathered at the heart of Amazon’s Seattle headquarters on Wednesday. The company said it had not witnessed any other demonstrations.

AECJ said the walkout comes after Amazon made moves “in the wrong direction”.

The company recently has recently overturned a desire to make all Amazon shipments net zero for carbon emissions by 2030.

The company maintains a pledge on climate change.

Amazon spokesperson Brad Glasser told Reuters the company is pursuing a strategy to cut carbon emissions.

“For companies like ours who consume a lot of power, and have very substantial transportation, packaging, and physical building assets, it’ll take time to accomplish.”

AECJ protesters also sought support for the 27,000 staff, who had lost their jobs in recent months —around 9 per cent of Amazon’s global workforce.

The company has also mandated a return-to-office program.

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The Great Resignation vs. The Great Burnout

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As employees recover from the height of the pandemic, the Great Resignation has come to light

 
The pandemic saw the term ‘the great resignation’ coined as thousands of people resigned from their jobs across the U.S. in 2021 and 2022.

Karin Reed, the author of ‘Suddenly Hybrid said the great resignation was a period of employees taking control of their future.

“A lot of people realised in their current environment they were not happy with what they were doing with their job. They chose to vote with their feet and go elsewhere,

In other parts of the world, a spike in resignations was not reported.

However, a higher degree of workers began reporting post-Covid burnout, as they made a return to the office.

“There’s been a blurring of the lines. You have work that’s not confined by a physical space.

“Instead of closing the computer and walk away, our computer is in the next room.”

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