स्टार खिलाड़ियों के बगैर पाकिस्तान से ODI सीरीज में दो-दो हाथ करने को तैयार न्यूजीलैंड, ये है पूरा शेड्यूल

पाकिस्तान और न्यूजीलैंड की क्रिकेट टीमें 27 अप्रैल से 5 मैचों की वनडे सीरीज में किस्मत आजमाएंगी. यह सीरीज दोनों टीमों के लिहाज से बेहद अहम है. आगामी वर्ल्ड की तैयारी दोनों टीमें इस सीरीज के जरिए करेंगी. कीवी टीम में कई स्टार खिलाड़ी नदारद हैं. न्यूजीलैंड के कई खिलाड़ी इस समय आईपीएल में खेल रहे हैं.

from Latest News क्रिकेट News18 हिंदी https://ift.tt/dM7GrCk

क्या टीम इंडिया को मिल गया है पंत का विकल्प? पीटरसन ने सुझाया विस्फोटक युवा का नाम

केविन पीटरसन ने ऋषभ पंत के विकल्प के रूप में एक नाम भारतीय टीम को सुझाया है. यह कोई और नहीं पंजाब किंग्स के विस्फोटक बल्लेबाज जितेश शर्मा हैं. केपी ने इंग्लिंश अखबार के एक कॉलम में कहा कि जितेश शर्मा एक स्पेशल टैलेंट हैं. पंत अगर टीम में वापसी नहीं कर पा रहे हैं तो भारत को जितेश के बारे में सोचना चाहिए.

from Latest News क्रिकेट News18 हिंदी https://ift.tt/ASyKfhn

Delhi Shooting: Cops, Lawyers Asked To Brainstorm Over Security At Courts

Following an incident of shooting in a district court premises here earlier this month, the Delhi High Court on Wednesday directed that a meeting of stakeholders, including police and bar representatives, be held to discuss measures in relation to security inside courts.

A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad asked that the meeting be held within two weeks to come up with suggestions.

The high court was hearing its own suo motu case as well as a petition on the safety and security in court premises following the September 24, 2021, shootout in a courtroom in Rohini district court that killed three persons.

The court was informed that recently there was another incident of shooting in the Saket District Court premises.

On April 21, a 49-year-old debarred lawyer had fired four rounds at a woman and wounded her in the Saket court complex in south Delhi.

Delhi government standing counsel Santosh Kumar Tripathi said all measures were being taken by police authorities to ensure safety and security in courts and a meeting may be held between stakeholders and police officials for any further suggestions.

"Delhi Police is doing fantastic (work). Measures are taken by Delhi Police. Security has been increased," he said.

Let senior police officers and bar associations meet and discuss the steps required for ensuring the safety in court, the court said.

Additional Solicitor General Chetan Sharma said designation of a person should not grant any immunity from going through security checks. "We have to co-operate. Designation should not grant us any immunity from security check," he said.

The high court had on September 30, 2021, initiated on its own a petition concerning security at courts in the national capital following the September 24, 2021, shootout at Rohini Court, saying there was a need for proper and effective deployment of a sufficient number of police personnel in courts.

In a status report filed in the matter, the police had last year informed that to improve the security setup of all seven district courts in the national capital, 997 security personnel, including local police and CAPF, had been deployed there.

It had also said over 2700 CCTVs, 85 baggage scanners, 242 handheld metal detectors and 146 door frame metal detectors had also been installed in the district courts.

As on November 30 last, a total 997 security personnel had been deployed in district courts as opposed to 783 on October 26, 2021, and that a total of 313 such security personnel were also present in the high court besides several door frame metal detectors, hand held metal detectors, CCTV and other facilities, the report had said.

The report had also said that additionally, boom barriers and 59 wireless sets and control rooms for prompt communication had been given at these institutions and every person was subjected to searching and frisking .

The high court had earlier directed the Delhi Police Commissioner to undertake periodical review of security arrangements in courts, based on security audit by an expert team, for the deployment of requisite number of personnel and installation of gadgets.

Jailed gangster Jitendra Gogi and his two assailants posing as lawyers were killed inside the Rohini courtroom on September 24, 2021, in a dramatic shootout that also saw the police fire bullets in retaliation, the officials had said.

Video footage of the incident showed policemen and lawyers rushing out in panic as gunshots rang out inside courtroom number 207.

The two gunmen dressed as lawyers are suspected to be members of rival Tillu gang, an official had said, adding that over 30 shots were fired.

On December 9, 2021, a man was injured in a low-intensity explosion that took place inside a courtroom in Rohini district court, raising questions about security arrangements there.

The matter would be heard next by the high court in July.

from NDTV News Search Records Found 1000 https://ift.tt/HCYXuW8

IPL 2023: अजिंक्य रहाणे के भूचाल का धोनी ने खोला राज, अपनाई थी एक ट्रिक, फिर शुरू हुई जिंक्स की आतिशबाजी

टीम इंडिया के अनुभवी बैटर अजिंक्य रहाणे ने आईपीएल 2023 में खूब सुर्खियां बटोरी हैं. इस खिलाड़ी ने इस सीजन जैसा रूप दिखाया है उससे सभी हैरान हैं. लेकिन इसमें धोनी का बड़ा हाथ रहा है. धोनी ने अब इस ट्रिक का खुलासा कर दिया है जो उन्होंने रहाणे को दी.

from Latest News क्रिकेट News18 हिंदी https://ift.tt/QBAZsVX

पिछले मैच में पिटने के बाद अर्जुन तेंदुलकर की गजब वापसी, बल्लेबाज रन को तरसे, 1 चौका मारना हुआ मुश्किल, झटका विकेट

इंडियन प्रीमियर लीग के नए सीजन में मुंबई इंडियंस के लिए अर्जुन तेंदुलकर ने डेब्यू किया. टूर्नामेंट में महान बल्लेबाज सचिन तेंदुलकर के बेटे के खेलने को लेकर लंबे वक्त से इंतजार किया जा रहा था. कोलकाता नाइटराइडर्स के खिलाफ आईपीएल का पहला मैच खेलते हुए अर्जुन तेंदुलकर का प्रदर्शन अच्छा रहा. दूसरे मैच में पहला विकेट भी हासिल किया लेकिन तीसरे मुकाबले में जबरदस्त पिटाई हो गई. चौथे मुकाबले में वापसी करते हुए उन्होंने किफायती गेंदबाजी करते हुए विकेट चटकाया.

from Latest News क्रिकेट News18 हिंदी https://ift.tt/QBbwJSG

GT vs MI: मुंबई इंडियंस पर भारी पड़ी 18 गेंद, मिलर की 'किलर' पारी, गुजरात ने बनाया सबसे बड़ा स्कोर

GT vs MI: गुजरात टाइटंस ने अपने होम ग्राउंड पर मुंबई इंडियंस के खिलाफ पहले बल्लेबाजी करते हुए 207 रन बनाए. ये आईपीएल में गुजरात का सबसे बड़ा स्कोर है. गुजरात ने आखिरी 18 गेंदों पर कुल 57 रन ठोके. डेविड मिलर और अभिनव मनोहर ने छक्कों की बरसात कर दी.

from Latest News क्रिकेट News18 हिंदी https://ift.tt/v5yiV91

Prince William Secretly Settled Hacking Claim For "Huge Sum": Lawsuit

Britain's Prince William has settled a phone-hacking claim against Rupert Murdoch's UK newspaper arm for a "huge sum" after a secret deal struck with Buckingham Palace, lawyers for the heir's brother Prince Harry said in court documents.

Harry, the younger son of King Charles, is suing Murdoch's News Group Newspapers (NGN) at the High Court in London for multiple unlawful acts allegedly committed on behalf of its tabloids, the Sun and now defunct News of the World, from the mid-1990s until 2016.

In preliminary hearings this week, NGN, which has paid out millions of pounds to settle more than a thousand phone-hacking cases, is seeking to strike out claims by the prince and British actor Hugh Grant, arguing they should have taken action sooner.

It also denies anyone from the Sun was involved in any unlawful activity.

In a submission to the court, Harry's legal team said the reason he had not brought action before was because a deal had been agreed between NGN and the "institution" - Buckingham Palace - to hold off any claims until the conclusion of other outstanding phone-hacking litigation.

"In responding to this bid by NGN to prevent his claims going to trial, the claimant has had to make public the details of this secret agreement, as well as the fact that his brother, His Royal Highness, Prince William, has recently settled his claim against NGN behind the scenes," his lawyers said.

In a witness statement, Harry said NGN had settled William's claim "for a huge sum of money in 2020... without any of the public being told, and seemingly with some favourable deal in return for him going 'quietly' so to speak".

Prince William's office said it could not comment on ongoing legal proceedings and NGN had no comment.

During a criminal trial brought against News of the World journalists and others in 2014, its former royal editor Clive Goodman said in the mid-2000s he had hacked the voicemails of Harry as well as those of William, and William's wife Kate.

Her phone was hacked 155 times, William's 35 and Harry's nine times, Mr Goodman said.

In his 31-page statement, Harry railed against senior NGN figures and his own family, who he has accused of being in cahoots with the press to protect their image, saying the secret deal was struck to avoid a member of the royal family in the witness box.

Buckingham Palace "wanted to avoid at all costs" the reputational damage caused by publication in the 1990s of details of an "intimate telephone conversation" between Charles and the now Queen Consort Camilla, when his father was still married to his mother Princess Diana, his statement said.

Queen's backing

His grandmother, the late Queen Elizabeth, had in 2017 had given her backing for him to pursue his case and seek an apology from Rupert Murdoch himself, said Harry, who is currently involved in four cases against British newspapers.

But despite the queen's intervention, he said a year later the palace lawyer had told him "nothing could be done as NGN were not in a position to apologise to Her Majesty the Queen and the rest of the Royal Family at that stage".

In his submission, NGN's lawyer Anthony Hudson denied there was any "secret agreement" between the publisher and the royal family. He argued that, even if there was a deal, it did not affect their case that the lawsuit was brought too late.

Harry, who now lives in California, was not in court, but would be watching proceedings by videolink, his lawyer David Sherborne said.

In 2012, Murdoch's British newspaper group issued an unreserved apology for widespread hacking carried out by journalists at the News of the World which the media mogul had shut down amid a backlash.

But it has always rejected any unlawful activity at the Sun which was previously edited by Rebekah Brooks, now chief executive of his British arm, News UK. She has always denied knowledge of phone-hacking and was found not guilty in the 2014 trial of involvement.

Harry said in his statement he was "absolutely astonished" by this. His fury at the treatment of his wife meant he had sought to keep the press away from his glitzy wedding to Meghan in 2018, but his father's office had been unhelpful.

"They had a specific long term strategy to keep the media (including NGN) onside in order to smooth the way for my stepmother (and father) to be accepted by the British public as Queen Consort (and King respectively) when the time came," Harry wrote.

Anything that might "upset the applecart", including phone hacking claims, was to be avoided at all costs, he said.

The case is one of four Harry is pursuing against British newspapers.

from NDTV News Search Records Found 1000 https://ift.tt/giQXlcR

GT vs MI: रोहित शर्मा का हौसला बढ़ाने पहुंचे 'यॉर्कर किंग', मुंबई इंडियंस ने किया स्वागत

GT vs MI: आईपीएल 2023 में मुंबई इंडियंस और गुजरात टाइटंस का मुकाबला खेला जा रहा है. इस मैच में मुंबई इंडियंस का हौसला बढ़ाने जसप्रीत बुमराह पहुंचे हैं. मुंबई की टीम ने बुमराह की एक तस्वीर शेयर की है, जिसमें बुमराह नरेंद्र मोदी क्रिकेट स्टेडियम में बैठे नजर आ रहे हैं. बुमराह को विश्व टेस्ट चैंपियनशिप की टीम में जगह नहीं मिली है.

from Latest News क्रिकेट News18 हिंदी https://ift.tt/WXpkM5H

BJP's Is Double Engine, Congress Is Reverse Gear Government: Amit Shah In Karnataka

Taking a jibe at the Congress, Union Minister Amit Shah on Tuesday said that while the BJP government is a "double-engine" government, Congress is a "reverse-gear" government.

He asked the people not to give the charge of the state to such a government which in itself is a "hindrance" to development.

While addressing a public rally in Devara Hippargi, Vijayapura, Amit Shah said, "On one hand there is PM Modi and Chief Minister Basavaraj Bommai's 'double-engine' government and on the other hand, there's Congress' 'reverse gear' government. They (Congress) drive in reverse gear".

"Whatever development the BJP government does, Congress with its 'reverse gear' brings the situation back to square one, wherever BJP government works," he added.

He further hit out at Congress regarding the promise of restoring 4 per cent Muslim reservation in the state.

"We did a major change in reservation. They (Congress) started creating an uproar and said this is unfair. I want to ask, why should the reservation be given on the basis of religion? The Constitution doesn't allow reservation on a religious basis, but Congress just for their vote bank gave 4 per cent reservation to Muslims. Now, the BJP government has scrapped it and given it instead to Lingayat, Vokkaligas and other communities," the Home Minister said.

He added, "Congress says that if it comes to power, it will again give back the reservation to Muslims, and take it away from Lingayats, Vokkaligas, and SC/ST. But don't worry, neither will Congress come to power nor will they be able to do so."

The former BJP president said that the BJP banned the Popular Front of India (PFI) which used to carry out rampant violence in the state.

"We banned PFI, who used to carry out a spate of violence in the state. When Siddaramaiah was the Chief Minister, he released them all. But, once we came to power, we picked each one of them and put them back in jail. This 'reverse gear' government says that if they come to power, they will revoke the ban on PFI. This is a warning bell for the whole of Karnataka," Amit Shah further said.

He added, "Congress was encouraging PFI just for vote-bank politics. But, I would like to assure everyone that there is no need to worry, and this won't happen. Under PM Modi, Karnataka's security will remain as it is."

Amit Shah also appealed to the people to make the 'Lotus' bloom in the state for the welfare of the people, of Karnataka and of the country.

"On one side there is Congress, which has always been insulting Lingayats. On the other side, there is JDS, just for becoming the Chief Minister, last time they sat in Congress's lap. Voting for JD(S) means voting for Congress and voting for Congress means lifting the ban on PFI," he said.

In the 2018 Assembly elections, BJP won 104 seats and emerged as the single largest party, while the Congress and JD(S) bagged 78 and 37 seats, respectively.

The term of the 224-member Karnataka legislative assembly is set to end on May 24. Karnataka will go to polls on May 10 and the votes will be counted on May 13.

from NDTV News Search Records Found 1000 https://ift.tt/PS0dwKc

New IT Rules Don't Seem To Protect Parody, Satire: Court On Comedian's Petition

The amendments to the Information Technology Rules, prima facie, do not seem to offer protection to parody and satire, the Bombay High Court said on Monday while hearing a petition filed by stand-up comedian Kunal Kamra.

The high court bench also said Kamra's petition challenging the amendments was maintainable.

On April 6, the Union government promulgated certain amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, including a provision of a fact check unit to identify fake or false or misleading online content related to the government.

Mr Kamra, in his petition, claimed the new rules could potentially lead to his content being arbitrarily blocked or his social media accounts being suspended or deactivated, thus harming him professionally.

He has sought that the court declare the amended rules as unconstitutional and give a direction to the government to restrain from taking action against any individual under the rules.

The Union government, in an affidavit filed in court, had "reiterated that the role of the fact check unit is restricted to any business of the Central government, which may include information about policies, programmes, notifications, rules, regulations, implementation thereof, etc".

"The fact check unit may only identify fake or false or misleading information and not any opinion, satire or artistic impression. Therefore, the aim of the government with regard to the introduction of the impugned provision is explicitly clear and suffers from no purported arbitrariness or unreasonableness as alleged by the petitioner (Kamra)," the Centre's affidavit further contended.

On Monday, a division bench of Justices GS Patel and Neela Gokhale, while hearing the plea, said, prima facie, the rules don't seem to offer protection to fair criticism of the government like parody and satire.

"You are not affecting parody, satire, that is what your affidavit says. That is not what your rules say. There is no protection granted. That we will have to see," Justice Patel orally remarked.

The Centre had also said the fact check unit has not yet been notified by the government and, hence, arguments made in the petition (by Kamra) regarding its functioning do not have any basis and were "premature and under mere misconceptions of the petitioner”.

However, the bench said the argument that the challenge is “premature” is also incorrect.

The court will hear the matter further on April 27.

As per the amendments, intermediaries such as social media companies will have to act against content identified by the fact check unit or risk losing their “safe harbour” protections under Section 79 of the IT Act.

"Safe harbour" protections allow intermediaries to avoid liabilities for what third parties post on their websites.

from NDTV News Search Records Found 1000 https://ift.tt/Faxg1Xe

भुवनेश्वर कुमार ने साल्ट को किया गोल्डन डक पर आउट, ब्रावो को पीछे छोड़ा, खतरे में मलिंगा का रिकॉर्ड

भुवनेश्वर कुमार आईपीएल में सनराइजर्स हैदराबाद का हिस्सा हैं. उन्होंने दिल्ली कैपिटल्स के खिलाफ धारदार गेंदबाजी की. भुवी ने इस मैच में दिल्ली के ओपनर फिलिप साल्ट को गोल्डन डक पर आउट किया. इस दौरान भुवनेश्वर ने अपने नाम बड़ा रिकॉर्ड भी दर्ज कर लिया.

from Latest News क्रिकेट News18 हिंदी https://ift.tt/wJ7bqg8

Can Poor Hair Health Indicate Other Health Issues?

There is no question that hair has evolved into one of our most potent accessories, a crucial component of our social appearance, and a factor in how we and others perceive us. More significant, though, is the fact that hair actually acts as a barometer for overall health. 

A hair test can be used to identify illnesses like anaemia, thyroid issues, hormone imbalances, and general health issues. Therefore, as they are a reflection of internal issues, hair disorders should be addressed carefully.

It is impossible to ignore hair issues. You should speak with a trichologist as soon as you can if you have abnormal hair growth or fall, or if your hair and scalp become excessively dry. Meanwhile, read through this list of health issues that might cause hair fall.

Hair problems that may be a sign of health issues:

1. Hair fall

While healthy hair will typically shed up to 100 strands per day after a wash, excessive loss could be a sign of a more serious problem. Visit your doctor as soon as possible because nutritional deficits or other underlying medical conditions may be involved. Your doctor may also test for certain vitamin and/or mineral deficiencies, including a vitamin D deficiency, in addition to thyroid illness and anaemia.

2. Brittleness 

Even while every person's hair requires some moisture on occasion, a particularly brittle quality may indicate a zinc and/or iron shortage. A lack of zinc and iron can affect the structure of hair because these nutrients are necessary for the formation of keratin. You can take zinc by itself or as a mineral supplement with iron. You can also include foods high in zinc in your diet, such as beef, pumpkin seeds, and lentils.

3. Grey hair

Chronic stress may in fact cause DNA damage and lower the number of pigment-producing cells in hair follicles, according to a study. Your hair loss may also be brought on by stress. Grey hair may also be influenced by oxidative stress, another sort of stress. Pigment-producing cells may be impacted by oxidative stress, which occurs when cell-damaging free radicals prevent the body from repairing itself. However, do note that hair greying may also be due to genes. 

4. Hair dryness 

Healthy fats can offer a year-round remedy for dry hair. These are essential to your diet because they support healthy skin and a scalp that keeps your strands vibrant. Consider enhancing the health of your skin and scalp by incorporating plenty of healthy fats like avocado, olive oil, and salmon into your diet to promote the health of your hair.

5. Yellow dandruff

Dandruff is a persistent scalp problem that manifests as yellow or white flakes in your hair, on your shoulders, or even in your eyebrows. Dandruff is typically treatable and does not signify a major health issue. Seborrheic dermatitis is one of the most typical causes of dandruff. Seborrheic dermatitis is characterised by red, oily skin that is coated in flaky white or yellow scales. Malassezia, a yeast-like fungus, can similarly irritate the scalp. 

If any of these hair problems are persistent or exaggerated, make sure to seek professional medical help.

Disclaimer: This content including advice provides generic information only. It is in no way a substitute for a qualified medical opinion. Always consult a specialist or your own doctor for more information. NDTV does not claim responsibility for this information.

from NDTV News Search Records Found 1000 https://ift.tt/07DpuZj

वॉर्नर ने जिसके खिलाफ IPL 2023 का पहला छक्का मारा, उसने ही किया आउट, 89 गेंद से थी झोली खाली अब ली 'हैट्रिक'

SRH vs DC, IPL 2023: आईपीएल 2023 में सनराइजर्स हैदराबाद के खिलाफ पहले बैटिंग करते हुए दिल्ली कैपिटल्स के बल्लेबाज फ्लॉप साबित हुए. 62 रन पर ही आधी टीम आउट हो गए. वॉशिंगटन सुंदर ने अपने एक ओवर में डेविड वॉर्नर, सरफराज और अमान खान को आउट किया. दिलचस्प बात ये है कि सुंदर को इससे पहले 6 मैच में 1 भी विकेट नहीं मिला था और अब 5 गेंद में ही उन्होंने 3 बल्लेबाजों को पवेलियन की राह दिखाई.

from Latest News क्रिकेट News18 हिंदी https://ift.tt/HPLa5Ak

Rishi Sunak Goes Live On LinkedIn To Push UK's Growth Plans

British Prime Minister Rishi Sunak on Monday joined a live question and answer session with a range of UK businesses as part of a new Business Connect programme, which he says will promote his economic growth priority and optimise the conditions for businesses in the country to thrive.

Over 200 of the UK's highest-profile CEOs and business leaders, representing key growth sectors, including tech, life sciences and advanced manufacturing, gathered in London for the first Business Connect event to hear directly from Rishi Sunak.

It came as Downing Street released the latest figures to show that 1,800 jobs a month have been created since October 2022 - the month Rishi Sunak took charge in the wake of a disastrous mini-Budget which resulted in predecessor Liz Truss being deposed as Prime Minister.

"Since taking office, I've spoken to over 1,000 business people - because they are the innovators and change-makers at the heart of our economy, supporting jobs, attracting investment and driving growth," said Mr Sunak.

"Business Connect provides the next fantastic opportunity to demonstrate how we are growing the economy. We are bringing together some of the UK's biggest companies and investors for meaningful dialogue - and I'm a prime minister passionate about working with business to unlock opportunity and progress," he said.

The British-Indian leader said the UK should be proud of its business credentials and pointed to the creation of 162 tech unicorns, smarter regulation and world-leading universities as the "right ingredients" to double down on growing the economy.

Alongside, Mr Sunak also unveiled new GBP 100 million in initial start-up funding for a new task force responsible for accelerating the UK's capability in the rapidly-emerging types of artificial intelligence (AI). The Foundation Model Taskforce, modelled on the success of the COVID-19 Vaccines Taskforce, will develop the safe and reliable use of AI across the economy and ensure the UK is globally competitive in this strategic technology.

"Harnessing the potential of AI provides enormous opportunities to grow our economy, create better-paid jobs, and build a better future through advances in healthcare and security. By investing in emerging technologies through our new expert taskforce, we can continue to lead the way in developing safe and trustworthy AI as part of shaping a more innovative UK economy," added Mr Sunak.

As part of long-term plans to create a more innovative UK economy, the UK government added a new "innovation" category at the Great British Entrepreneur Awards, to be hosted by UK Chancellor Jeremy Hunt at Downing Street on Monday evening. The new award will recognise bright and innovative ideas that deliver new products and services and can drive our economy forward.

"It's absolutely vital that we're listening to - and working with - industry leaders, innovators and disruptors as we deliver on our priority to grow the economy," said Mr Hunt.

The government also referenced plans for new trade deals, including a free trade agreement (FTA) being negotiated with India, as part of this economic growth strategy.

"By securing high-quality trade deals, scrapping market access barriers around the world and cutting needless red tape that holds businesses back, I will ensure the UK remains one of the best places in the world to start and grow a business," said UK Business Secretary Kemi Badenoch.

Several British businesses have expressed their support for the government's Business Connect initiative, designed as a platform for businesses to discuss the UK's growth plans and the role of technology.

"The UK continues to be a prominent financial centre that sits at the heart of global capital markets, and Barclays continues to support the UK government's ambitious plans to drive prosperity and economic growth for people and businesses here in the UK and beyond," said C.S. Venkatakrishnan, the Indian American Group Chief Executive of Barclays.

from NDTV News Search Records Found 1000 https://ift.tt/1sTaXZ6

Over $68 Billion Withdrawn From Credit Suisse Before UBS Takeover

Tens of billions were withdrawn from Credit Suisse in the first three months of 2023, the bank's earnings report showed Monday, providing clues to the towering challenges ahead as UBS prepares an emergency takeover.

Switzerland's long-time second largest bank saw 61.2 billion Swiss francs ($68.6 billion) withdrawn in the first quarter alone, it said Monday in what is likely its final quarterly report before it is swallowed by its larger domestic rival, UBS.

The bank also reported deceptively bloated net profits for the quarter, after its high-risk debts were wiped out in the mega-merger deal, but warned of "substantial" losses to come.

Investors had been eagerly awaiting the results as they seek clues to the magnitude of the challenges facing UBS, Switzerland's largest bank, after it was strongarmed last month by Swiss authorities into the shotgun marriage.

The results seemed to be greeted with some optimism.

In early afternoon trading, Credit Suisse's shares rose nearly two percent to 0.81 Swiss francs a piece and UBS's were up 1.6 percent at 18.35 francs a share, as the Swiss stock exchange's main SMI index rose 0.14 percent.

'Bad shape'

But Vontobel analyst Andreas Venditti warned in a research note that Credit Suisse's report "reveals the bad shape the firm is in".

"UBS undoubtedly faces a major (and urgent) task in deeply restructuring its former competitor."

Credit Suisse said the "significant net asset outflows" were particularly heavy in the second half of March, as it was engulfed by panic in the days surrounding the hastily arranged takeover.

"These outflows have moderated but have not yet reversed as of April 24, 2023," the bank said in its earnings statement.

Analysts with the Zurich Cantonal Bank (ZKB) stressed that Credit Suisse's outflows for the quarter were "less than feared".

But they come after the bank already saw 110.5 billion francs in outflows in the fourth quarter of 2022.

Mr Venditti pointed out that over the past six months, Credit Suisse's wealth management division alone had seen 140 billion francs in net new money outflows.

The bank meanwhile said it saw its net profit swell in the first quarter to 12.4 billion francs, up from a significant loss a year earlier.

Debt wipe out

But that was largely attributed to holders of high-risk Credit Suisse debt being wiped out in the emergency takeover deal.

Swiss authorities required that close to 16 billion Swiss francs ($17.9 billion) in so-called additional tier 1 (AT1) bonds be rendered worthless before Switzerland's two biggest banks united.

The order by the Swiss Financial Market Supervisory Authority (FINMA) infuriated bondholders, and a number of them have begun launching legal action against the regulator.

Credit Suisse said its quarterly results were also boosted by the 700-million-Swiss-franc sale of a significant part of its Securitized Products Group to Apollo Global Management.

But despite this, on an adjusted basis, the bank said it nonetheless suffered a pre-tax loss for the quarter of 1.3 billion Swiss francs.

The bank, which last October launched a vast restructuring plan including carving out its investment arm, said that unit had suffered an adjusted pre-tax loss of 337 million in the first quarter.

'Substantial' losses

And it warned that "in light of the merger announcement, the adverse revenue impact from the previously disclosed exit from non-core businesses and exposures, restructuring charges and funding costs", it expected to see a "substantial" pre-tax losses in its investment bank unit and overall in the second quarter and full year of 2023.

Credit Suisse also said Monday that it had scrapped a deal to acquire the investment advisory business of M. Klein & Company and fold it into the First Boston brand, which it had planned to resurrect as part of its investment bank overhaul.

The bank said the sides had "mutually agreed to terminate" the $175-million acquisition "considering Credit Suisse's recently announced merger with UBS."

Credit Suisse suffered a string of scandals over the past several years, and after the collapse of three US regional banks unleashed market panic, it was left looking like the weakest link in the chain.

Over the course of a nerve-wracking weekend, Swiss authorities organised an emergency rescue, pressuring UBS to agree to a $3.25-billion mega merger on the evening of March 19.

Justifying the move to parliament earlier this month, Swiss President Alain Berset said that "without intervention, Credit Suisse would have found itself, in all likelihood, in default on March 20 or 21".

In 2022, Credit Suisse suffered a 7.3-billion-franc loss, in stark contrast to the $7.6 billion profit raked in by UBS last year.

UBS is due to publish its first quarter results on Tuesday.

from NDTV News Search Records Found 1000 https://ift.tt/L6hGZVx