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- Little progress at key meet ahead of COP29 climate summit
- 'Party atmosphere': Skygazers treated to another aurora show
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- European Mediterranean states discuss Middle East, migration
- Thunberg leads pro-Palestinian, climate protest in Milan
- Stock markets diverge before China weekend briefing
- EU questions shopping app Temu over illegal products risk
- Han Kang's books sell out in South Korea after Nobel win
- Shanghai markets sink ahead of briefing on mixed day for Asia
- Investors, analysts eye bigger China stimulus at Saturday briefing
- Musk unveils robotaxi, pledges it 'before 2027'
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- On US coast, wind power foes embrace 'Save the Whales' argument
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Wall Street stocks retreat from records on US inflation data
- Israel strikes central Beirut, killing 22
- Solar storm could impact US hurricane recovery efforts: agency
- Delta eyes Election Day travel pullback as profits climb
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- UK's William and Kate in first joint public engagement since cancer treatment
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Musk finally unveiling his long-promised robotaxi
- London's Frieze art fair goes potty for ceramics
- US, Europe stocks fall on US inflation data
- US consumer inflation eases to 2.4% in September
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- South Korea's Han Kang wins literature Nobel
- Ikea posts fall in annual sales after lowering prices
- Stock markets diverge, oil gains after China rebounds
- World can't 'waste time' trading climate change blame: COP29 hosts
- South Korean same-sex couples make push for marriage equality
- Mumbai declares day of mourning for Indian industrialist Ratan Tata
- 7-Eleven owner restructures to fight takeover
- Sri Lanka recovering faster than expected: World Bank
- Hong Kong, Shanghai rally as most markets track Wall St record
- Uniqlo owner reports record annual earnings
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- Indonesia biomass drive threatens key forests: report
- Mumbai mourns Indian industrialist Ratan Tata
- China opens $71 bn 'swap facility' to boost markets
- Asian markets track Wall St record as Hong Kong, Shanghai stabilise
- 'Denying my potential': women at Japan's top university call out gender imbalance
Credit Suisse customers confident despite stock slump
Credit Suisse customers in Geneva were not spooked by the bank's plunge on the stock exchange Wednesday, believing the Swiss government would ride to the rescue before it could ever collapse.
Emerging from the bank's headquarters in the city, a branch by the Rhone riverside, customers were largely unruffled by the share price tumbling more than 30 percent during the day to a record low.
If the bank went bust, "it will be covered by the government, under 100,000 Swiss francs" per customer, said a 40-year-old personal trainer, who declined to give his name.
"Someone will buy the bank anyway."
Credit Suisse's international activities, rather than its Swiss domestic banking, is the greater source of worry, he added.
Share prices nosedived after the bank's biggest shareholder said they would not up their stake, amid renewed fears of a burgeoning banking crisis.
Another customer stressed that the bank is one of the 30 so-called global systemically important banks deemed too big to fail.
"I'm not worried. These are systemically important banks. They can't go bankrupt," said the restaurant manager, who is a professional customer at Credit Suisse and also did not want to be named.
The 33-year-old said the government would have to step in -- so the bank could not fold without the state's finances having collapsed too.
- 'Snowball effect' -
Inside the branch's atrium, there was no air of panic as customers queued at various desks.
Footage of Swiss tennis legend Roger Federer, a Credit Suisse brand ambassador, cycled on the bank's electronic screens.
Account holder Renate said there were "a lot more people in the hall, people waiting, and I think they want to be reassured."
Though she thought Switzerland's second-biggest bank would be "too big to fail", a year ago she transferred some of her money to the Geneva cantonal bank.
Gemma Monsini asked: "Are they going to warn us or not? If they don't, it's dishonest. We small customers need to know what's going on."
Global markets have been rattled by the collapse of US tech sector lenders Silicon Valley Bank and Signature.
"It's a snowball effect," said a Geneva-based independent asset manager, who cycled up to the branch and seemed unsurprised that Credit Suisse was in trouble.
"I worked 15 years for them, but nearly 35 years ago," the mortgage-holder said, declining to be named. "There were more people, more counters, a better dynamic."
Credit Suisse wanted to get rid of small customers, he said, including his wealth management portfolio which didn't have enough clients.
"That was fine by us as the service was lamentable," he said.
- 'It always worked out' -
Antolin Coll, 79, who worked for Credit Suisse for 22 years, was confident the bank would survive.
"I still have my money there," the retired former manager said.
"I'm not afraid about that, because there have been previous cases and it always worked out."
Meanwhile at the branch by the railway station, Daniel Rodrigues, a customer of 15 years, said it was hard to imagine the worst.
"If I see it getting worse, I will have to reconsider... moving my money to another bank," he said.
And Mary Ponomarova, a Ukrainian refugee, said: "Any money I have is here.
"Because it is not my country, I don't know what to do."
S.F.Lacroix--CPN