Credit Suisse Delays Annual Report

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 9 March 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Credit Suisse (CS) shares drop after it delays annual report over SEC queries (00:48). Silvergate Capital (SI) to wind down operations, liquidate Silvergate Bank (01:54). Walgreens' (WBA) $54M contract with California to be canceled over abortion pill access (05:27).

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Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning.
0:07.0	Good morning. Today is Thursday, March 9th, and I'm your host, Julie Morgan.
0:12.0	The 2022 annual report from Credit Suisse was due to be released today, but it's delayed following
0:18.1	a late call from the SEC.
0:20.8	Today is crypto Thursday and there has not been a shortage of news in that space including from Silver Gate Capital.
0:27.0	This is a bank that was notoriously very crypto-friendly.
0:31.0	Silver Gate announced plans to shut down.
0:33.7	Mike Fay with the blockchain reaction on Seeking Alpha also has some positive news.
0:39.1	It's about Greyscale.
0:41.3	And what if you could bet on World Wrestling Entertainment's scripted matches?
0:46.0	Therein talks about that.
0:48.2	Our top story.
0:49.6	If you were looking forward to the annual report from Credit Suisse today. It's not coming.
0:55.0	Of course the question is why and seeking Alpha Associate News Editor Kevin Curran has the answer.
1:01.0	More drama from battled European Bank Credit Suisse on
1:03.7	Thursday. The Zurich-based bank said that it received a last-minute call from the
1:07.5	United States Securities and Exchange Commission to raise questions about its
1:10.9	previous financial statements in 2019 and 2020.
1:13.8	Due to the call, the bank said that it will delay its 2022 annual court that was due for publication
1:18.0	on Thursday.
1:19.0	Chairs of Critic Weeks have tumbled over the past year after a string of scandals,
1:22.1	ranging from helping in tax evasion plots to spying on former employees to
	...

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