SQUAWK BOX, THURSDAY 29TH JULY, 2021
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It’s Super Thursday for many European corporates, including Volkswagen, Shell and Diageo. Credit Suisse releases a scathing report following an internal investigation into the bank’s failure to manage risk in the wake of the Archegos scandal. The Swiss lender’s investment bank revenues plunge by 40 per cent. Meanwhile, Airbus is buoyant, raising its guidance for deliveries and operating income. In the U.S., Facebook shares fall in after-hours trading despite beating Q2 earnings expectations. The social media giant is braced for a significant growth slowdown. And in China, tech shares lift after a CNBC source reveals that Chinese market authorities have met with top investment banks to calm concerns following Beijing’s recent regulatory crackdown.
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