Antigua.news is a digital news and opinion portal founded in 2022 by Ambassador Dario Item as the official news channel of the Embassy of Antigua and Barbuda in Madrid, focused on delivering coverage of current affairs in Antigua and Barbuda, as well as key global breaking news. It is best known for its investigations into the Credit Suisse AT1 bonds case which, according to Financial Times, “scooped the world’s financial press.”[1]
History
In May 2023, with a story titled "Credit Suisse AT1 Bonds write-down: Swiss Court orders FINMA to disclose documents to plaintiffs".[2] Antigua.news made headlines with Ambassador Item’s disclosures regarding the acquisition of Credit Suisse by UBS. Antigua.news reported inconsistencies with statements within Swiss government and Swiss financial authorities (FINMA, SNB) in the week preceding the bank's collapse. The news was covered by the Financial Times,[3]Reuters,[4]Finews,[5]El Español[6] and other outlets[7][8][9]. Antigua.news investigations into the Credit Suisse AT1 bonds case has been considered by the Financial Times’s Corporate Finance Editor Robert Smith as "one of the most consequential European banking scoops of the year".[10] In a follow-up article, the Financial Times said that Antigua.news “got hold of the Swiss smoking gun and scooped the world’s financial press.”[1]
Since then, Antigua.news has continued to publish reports on developments. One such article, titled "Credit Suisse AT1s Case: The Unspoken Things",[11] discussed the lack of transparency during the March 19, 2023 press conference about the rescue of Credit Suisse. It was published on October 3, 2023, and was subsequently covered by various media outlets, including Corriere del Ticino,[12]Inside Paradeplatz,[13] and El País.[14]
On Nov. 3 and Nov. 4, 2023 Antigua.news exclusively published two new stories that were also picked up by other media. The first article, titled "Credit Suisse AT1 Bonds: The Missed Opportunity",[15] revealed, on the basis of until then undisclosed documents, Credit Suisse's inconsistent and unfair behavior toward its AT1 investors. The second article, titled "CSG AT1s CASE: Class action In the U.S. against Credit Suisse, its officers and PricewaterhouseCoopers",[16] announced before everybody else the filing of a class action lawsuit in the U.S. against Credit Suisse, its officers and Pricewaterhousecoopers. These revelations became sources and further covered by Die Weltwoche,[17]Corriere del Ticino,[18]Inside Paradeplatz[19] and El País.[14]
On March 3, 2024, Antigua.news published an article titled "Credit Suisse AT1: FINMA asks court not to show files to plaintiffs",[20] which presented previously unpublished documents indicating that FINMA sought to prevent plaintiffs' access to certain files through legal actions described as delaying tactics. The article was subsequently referenced by Financial Times,[21][22]El Pais,[23]Corriere del Ticino,[24]Finews,[25][26] and Tages-Anzeiger.[27]
On September 5, 2024, Antigua.news published an article titled "AT1 case: Credit Suisse relationship managers lied to clients, too",[28] suggesting that, shortly before the financial institution's collapse, a coordinated communication strategy was implemented to reassure clients and investors, aiming to limit capital outflows and stabilize the value of Credit Suisse Group's bonds and shares. The report alleged that actions by management and relationship managers influenced market perceptions, potentially inflating bond values and causing financial harm to investors. The story was subsequently covered by Finews,[29]Corriere del Ticino,[30]Inside Paradeplatz,[31] and Economia Digital.[32]
Antigua.news is now recognized by the international press as a primary source for comprehending the Credit Suisse AT1s case.[29][19][33][34] According to Finews:
When it comes to the latest upheavals in the financial world's executive floors, the «Financial Times» is usually well-informed early on. It's also a common tactic at the local banking hub to prepare the markets for profound news through the British newspaper. Yet, in the heated legal battle concerning Credit Suisse's (CS) mandatory convertible bonds (AT1-Bonds), where nearly 16 billion Swiss francs are at stake for the parties involved, the British paper was repeatedly outpaced by the obscure «Antigua News»: Time and again, the news portal on the Caribbean island, unknown outside of it, reported faster and, above all, was exceptionally well-informed about the negotiations.[33]
Antigua Barbuda Global Music & Media Awards (ABGMA)[35] awarded Antigua.news the title of Best Online News Media of the Year for both 2023[36] and 2024.[37] The website also made the final list of other categories.[38] The news has also been covered by other regional online media organizations.[39]
Awards and recognition
ABGMA - Best Online News Media of the Year (2023)[36]
ABGMA - Best Online News Media of the Year (2024)[37]
