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Credit Suisse is Prepare for litigation According to people familiar with the matter, after the collapse of Greensill Capital, the relationship between SoftBank and SoftBank deteriorated.

The move came as the Swiss bank scrambled to appease customers who had lost up to 3 billion U.S. dollars due to the failure of Greensail. Greensail’s largest investor was SoftBank’s Vision Fund.

The focus of the dispute is the $440 million that the bank’s wealthy customers owe Katerra, a troubled American construction group and a customer of Greensill. It is also supported by the Vision Fund.

The Financial Times earlier this year Reveal When SoftBank agreed to provide Greensill with an emergency cash injection in November 2020 to repay Katerra’s debt, the money did not reach the Credit Suisse fund as expected.

Credit Suisse has Plowed customer’s money Bonds secured by invoices related to Greensill’s supply chain finance business drove its expansion.

Coronavirus digestion

  • This United Kingdom Tuesday recording No daily deaths It started with Covid-19 for the first time since the pandemic began.

  • This World Health Organization have Reclassification A variant under the new nomenclature using the Greek alphabet.

  • Eurozone Inflation rate rose to 2% in May, exceeding the ECB’s target for the first time In more than two years.

  • Peru Already announced A huge revision The number of deaths caused by him has made it the worst per capita death rate in the world.

  • The doctor is India Have protest An ally of Narendra Modi, he claims that yoga and traditional medicine provide stronger protection than the Covid-19 vaccine.

  • Private Equity Group include Blackstone, Apollo Global Management and The Carlyle Group A very different post-pandemic portfolio has been established, some are betting on returning to normal life, while others are seeing lasting change.

Follow us Real-time Coronavirus Blog with Sign up For us Coronavirus business update communication.

In the news

Driverless London Underground Train 1 billion pounds bailout agreement British ministers ask Transport for London to move forward Introduce driverless trains The London Underground is part of a £1 billion rescue plan announced on Monday. The Mayor of London Sadiq Khan stated that Transport for London was “forced” to undertake preparations.

Oil price rebound Brent crude oil is expected to be The highest level since the pandemic beganAfter OPEC and its allies stick to their plan, they will only gradually release more oil to the strengthening oil market. Yesterday, the international benchmark oil price rose by nearly 3% to US$71.34 per barrel. subscription To us Energy News Learn about the latest industry news.

EU agreement to force multinational companies to report profits and taxes After years of negotiations, they have reached a deadlock Agreed rules As part of Europe’s measures to combat corporate tax avoidance, large multinational companies are forced to publicly disclose their profits and tax locations in the EU.

LetterOne supports the £1 billion UK broadband plan An investment group controlled by Russian billionaire Mikhail Fridman supports a plan Establish a regional UK broadband network Covid domestic workers after competing with British Telecom. The vehicle has agreed to fund Upp’s deployment of fiber optic networks to 1 million locations in eastern England by 2025.

United States: Russian gangs may have hacked meat suppliers A criminal organization that may be based in Russia is Origins of ransomware attacks The White House said after being notified by the world’s largest meat processor that it disrupted JBS’s animal slaughter. Reduced operations may reduce beef supply and push up prices.

Naomi Osaka challenges sports norms Tennis star Withdraw from the French Open The role of post-match news highlights how a generation of top athletes challenged the power of the league they played for and advocated for social change. Get a must-read newsletter about sports business through our website Scoreboard Newsletter, sent every Saturday.

Naomi Osaka said on Twitter that she has been suffering from depression since the 2018 U.S. Open © Corbis via Getty Images

Naomi Osaka said on Twitter that she has been suffering from depression since the 2018 U.S. Open © Corbis via Getty Images

Locals: Eritrean soldiers killed 19 civilians Army killed Mainly women and children According to witnesses, relatives and locals, in a village at the foot of a globally recognized rock-hewn church in Tigray three weeks ago, this was the latest atrocities in a war-torn area. (guardian)

Joe Biden solves the racial gap between rich and poor America president Call for a reduction in the racial wealth gap in the United States When visiting Tulsa, Oklahoma, this was one of the most brutal attacks on the black community.Biden also announced that he will hire Vice President Kamala Harris to lead his government efforts Strengthen national voting rights. (FT, The Guardian)

One day in the future

U.S. digital wallet The group will announce detailed plans for the application Nowadays Follow the requirements of member states to find a safe way for citizens to access public and private services online.The European Commission will also propose the European semester Spring bag.

Israeli minority government deadline This League of Opposition Leaders until Nowadays In order to persuade President Ruben Rivlin, it could win a parliamentary vote and replace Benjamin Netanyahu, the country’s longest-serving prime minister.

“Green Swan” Conference Many of the world’s top central bank governors, including Jay Powell of the Federal Reserve, Yi Gang of the People’s Bank of China and Christine Lagarde of the European Central Bank, will Virtual meeting On how to deal with climate risks in the financial sector.

  • there are more: A global agreement is about to be reached, which will require all listed companies Disclose the climate change risks they face François Villeroy de Galhau, President of the Bank of France, expressed it in a standardized way.

What are we still reading

Why central bankers no longer agree on how to deal with inflation After years of setting interest rates based on inflation forecasts and seeking to reach a target of around 2%, major monetary authorities around the world are Adopt different epidemic strategies. This is the second part of a series about whether it is possible Inflation is back.

Annual inflation rate (%) The line chart shows that the central bank responds to price pressures

Football looking for “Asian fans” the concept of”Asian fans“It is prominent in the business plan to try to break away from the European Premier League. Its dizzying predictions of audiences in the world’s most populous continent are seen as the driving force of the initiative. But it failed to understand the Asian market and local fans. power.

Windfalls in poor countries are within reach The world is about to reach an agreement on the establishment of a special drawing right of up to 650 billion U.S. dollars in the International Monetary Fund. It is possible to redistribute part of the proceeds to global purposes, and most importantly, to help low-income countries restore their prospects of being hit by the pandemic. Must seize this opportunity, Martin Wolf writes.

Martin Wolf: High-income countries can help by providing loans to their IMF Special Drawing Rights

Martin Wolf: High-income countries can help by providing loans to their IMF Special Drawing Rights © James Ferguson

Artificial intelligence prompts competition for healthcare data Covid-19 has given the healthcare community a glimpse of the promise of artificial intelligence, forcing national and commercial health systems to rely on telemedicine and real-time dashboards to spot urgent needs. We now see the eagerness to get medical data and let go of artificial intelligence on it, Writes Master Brooke.

How the world exhausts everything Japanese automaker Toyota is falling victim to the historic advances in industrial efficiency it helped create. Just-in-time manufacturing It helped the company save money by minimizing inventory supply, but Covid-19 overturned that strategy. (New York Times)

Cartoon of the day

The OECD says that by 2022, the global economy will return to pre-pandemic levels

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