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Luckin Collapse Adds to Credit Suisse’s Asian Loan Losses
Credit Suisse Group AG was stung by the collapse of Luckin Coffee Inc. in China following an accounting scandal, which led to a five-fold increase in Asian loan-loss provisions. The Swiss bank set aside 97 million Swiss francs ($100 million) for soured loans, primarily related to three cases, the largest…
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Click here to read the full story: Yahoo Finance