News Tag: Credit Suisse
February 11, 2009
Credit Suisse, which is Switzerland's second-largest bank, has reported its biggest annual loss ever of SwFr8.2 billion (£5 billion) - the majority of which (SwFr6 billion) came during the October to December period in 2008.
Chief Executive, Brady Dougan, described the results as ‘clearly disappointing’ but added that they had started 2009 with a very strong capital position.
The fourth quarterly loss ...
Credit Suisse announces biggest ever annual loss
by Kay Murchie
January 29, 2009
Yorkshire Building Society (YBS) has expanded the number of products it offers in conjunction with Credit Suisse by launching a number of new guaranteed investment accounts (GIAs).
According to YBS, the accounts carry almost 'no risk' because they guarantee a minimum return on investments.
The new range of GIAs cover combinations of growth, tracked growth an annual income. All accounts offer ...
YBS offers ‘no risk’ guaranteed investment accounts
by David Masters
December 4, 2008
Struggling Swiss banking giant, Credit Suisse, has announced it is axing a further 5,300 jobs, with the majority of job losses in its investment banking division.
The bank, which is one of the biggest casualties of the credit crunch and has been forced to write-off assets worth billions as a result of toxic loans, has already axed 1,800 jobs ...
Credit Suisse and Nomura announce significant job losses
by Kay Murchie
December 2, 2008
The FTSE 100 in London has lost ground today after the announcement that JP Morgan Chase is to axe over 9,000 jobs at the former Washington Mutual (WaMu).
WaMu was closed at the end of September making it the largest failure of a US bank. Its assets were sold to banking giant, JPMorgan Chase, for $1.9 billion (£1.3 billion).
JPMorgan ...
JP Morgan Chase and Credit Suisse announce job losses
by Kay Murchie
October 16, 2008
Swiss banking giant, UBS, is the latest European bank to receive help from its Government, in a bid to reduce the risk to the bank’s balance sheet.
The Swiss bank is raising $5.3 billion (£3 billion) from the Government, who will take a 9.3% stake in the bank. Meanwhile, it will be able to transfer up to $60 billion of distressed ...
UBS latest to receive Government financial assistance
by Kay Murchie
June 23, 2008
More job losses in the financial industry have been revealed as Wall Street giants, Citigroup and Goldman Sachs, announce staff cuts.
Citigroup, which is America’s largest bank, is believed to be axing up to 6,500 investment banking jobs. It is understood that trading desks in New York, London and other cities will be eliminated.
Sources close to ...
More banking woes as Citigroup and Goldman Sachs reveal job losses
by Kay Murchie
Further job cuts at Credit Suisse
by Kay Murchie
