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Credit Suisse wants to be normal in abnormal times

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Reassurance internally and externally.

This is the task that Ulrich Koerner has set for himself at a time when Credit Suisse, founded in 1856, is going through one of the most difficult and painful periods in its history.

Corner, who took over as CEO last August, wants to give the impression that everything is fine, and that the boat is sailing smoothly, despite the fact that the waters are threatening.

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But sometimes this exercise turns into a difficult balancing act.

In his last note sent to staff on October 7, the CEO attempted to portray an image of a calm captain, a captain in control of his boat.



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Canoo shares rise after CEO shares are bought by Investing.com

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© Reuters.

Large internal moves can be beneficial draws for investors. Here are some of the biggest moves from the past week, as first reported InvestingPro +.

Rackspace Technology Inc (NASDAQ:) Director Shashank Samant bought 100,000 shares on 11/29/22 at $4.5462. The value of purchases amounted to $454,620. Shares rose 3.9% for the week, to $4.85.

Canoo Inc (NASDAQ:) rose sharply after its CEO, Tony Aquilla, bought more than 9 million additional shares. Filings with the Securities and Exchange Commission showed that on November 9, 2022, Canoo entered into a subscription agreement to purchase a total of 9,009,009 shares of common stock at $1.11 each for a total purchase price of $10.0 million. Aquilla and related entities now own 62,479,217 shares of Canoo, or 19.2% of the outstanding shares. Shares of the electric vehicle maker rose 22% for the week, to $1.44.

The CEO of Vapotherm (NYSE: Joseph Army) bought about 902,000 shares on 11/28/22: 750,000 at $0.76 and another 152,000 at prices ranging from $0.755 to $0.7948. The total value of the purchases was about $690,000. CFO John Landry also reported the purchase of 135,000 shares on 11/28/22, with prices ranging from $0.76 to $0.7899, for a total purchase price of approximately $105,000. Shares gained 97.6% for the week to $1.62.

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Rocket Company Inc (NYSE:) CEO, Jay Farner, sold 77,400 shares from 11/28/22-11/30/22 at prices ranging from $7.56 to $7.89, bringing his holding to 5,651,907 direct shares and 204,000 indirect shares. The purchase value was approximately $600,000. Shares gained 9.8% to $8.41 for the week.

3D Systems (NYSE::) CEO Jeffrey Graves bought 20,000 shares from 11/25/22-11/28/22 at $9.50 – $9.70. The purchase value was approximately $200,000. Shares rose 5.8% for the week, to $10.18.

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If you are interested in upgrading your search for new investment ideas, check this out InvestingPro +

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The Las Vegas Strip megaproject is facing major problems

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There is nothing in Las Vegas until the doors open. This is a lesson learned over time as countless projects have hit snags that impose construction delays and even cause changes in ownership.

The Fontainebleau Las Vegas project is perhaps the most well-known example of this because it went through many build and start-up milestones with changing owners several times during its nearly 20-year journey. This project, which seems to be set for Opening in 2023Most likely in the hands of the original owners.



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South Korean Yoon prepares to expand demand to return to work amid strike by truck drivers – Reuters

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© Reuters. Containers containing tires are stacked in the yard of a tire factory on the 11th day of a nationwide truck drivers’ strike in Daejeon, South Korea, December 4, 2022. Yonhap via Reuters

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Written by Chunsik Yu and Josh Smith

SEOUL (Reuters) – South Korean President Yoon Sok-yul on Sunday ordered preparations to expand demand to return to work outside the cement industry, amid a prolonged strike by truck drivers.

Thousands of South Korean truck drivers have been on strike for more than 10 days, and negotiators from the government and unions have made no progress over disagreements over minimum wage rules.

Yoon, a governor, on Tuesday invoked a “commencement” order, the first in the country’s history, on 2,500 drivers in the cement industry, requiring them to get back on the road or face penalties.

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Yoon called on government ministers to make preparations to order a return to work in sectors such as oil refining and the steel industry, where additional damage is expected, spokesman Lee Jae-myeong said in a statement on Sunday.

Yoon called for punishment of lawbreakers during the strike, and ordered ministers to take measures to minimize damage, such as hiring replacement drivers, military personnel and equipment.

The Korea Federation of Trade Unions, an umbrella group, is planning a general strike for Tuesday.

“I can only regard this planned strike as a politically motivated act, not a strike aimed at representing workers’ rights,” Yoon said, according to Lee, referring to a possible harsh response from the government.

“Holding the people’s livelihood economy and the national economy hostage at this time of economic hardship makes the survival of vulnerable and unorganized workers more difficult and deprives future generations and the general public of their future jobs,” Yun said.

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The industry ministry said Thursday that the strikes disrupted South Korea’s supply chain, costing 1.6 trillion won ($1.2 billion) in lost shipments during the first seven days.

The government said it would not extend the minimum wage for truck drivers for another three years. The union says it should be permanent and broader.

Thousands demonstrated in downtown Seoul on Saturday in support of the truck drivers’ demands.

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