Credit Suisse writes down further $2.85 billion
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Credit Suisse said on Tuesday it was writing down a further 2.85 billion dollars (1.9 billion euros) worth of assets linked to the US housing market due to adverse conditions in the first quarter.
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Subprime-related problems at UBS AG   deepened on Wednesday as the Swiss bank unveiled $4  billion in new writedowns in a surprise statement, dragging the  embattled bank deep into the red for the year.
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Societe Generale has uncovered a $7.14 billion fraud that, combined with a write-down from its subprime exposure, will force it to seek $8.02 billion in new capital
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Credit Suisse Group, Switzerland&#39;s second-biggest bank, may eliminate hundreds of jobs at its securities unit to lower costs that are among the highest on Wall Street, people familiar with the matter said.
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Business & money: Swiss bank suffers a further Â£2bn writedown, pushing it into the first annual loss in its history
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Morgan Stanley, the No. 2 U.S. investment bank, reported a $9.4 billion writedown on Wednesday from bad bets on mortgage-related debt, leading it to take a $5 billion infusion from an arm of the Chinese government
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Credit Suisse Group, Switzerland s second-biggest bank, plans to combine its Credit Suisse First Boston securities unit with its banking business in the next two years to boost earnings that have trailed Wall ...
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Credit Suisse Group, Switzerland's second largest bank, said Tuesday its fourth-quarter profit dropped 72 percent because of writedowns for investment banking and money-market funds.
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HVB Group, Germany s second-largest bank by assets, will omit a dividend for the third straight year after the company unexpectedly wrote down the value of its real- estate portfolio by 2.5 billion euros ($3.25 ...
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At the end of August, Credit Suisse (NYSE:CSR) will close down its New  Japan fund following a period of disappointing returns. After 19 years of investment, the fund has halved in size to &pound;2m in the past year, and Credit Suisse says it does not expect any sudden improvement in performance. It puts this down, in part, to the inherent difficulty of investing in Japanese equities.
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European shares clung to 2-1/2 year  highs in lackluster trading on Thursday, while Swiss Re rallied  on news its likely pay-out in the wake of Asia's tsunami  tragedy will be less than 100 million Swiss francs ($88.3  million).
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NEW YORK (CBS.MW) -- Credit Suisse Group said Tuesday it will merge its Credit Suisse First Boston investment banking division into its private and corporate bank, cutting up to 300 jobs cuts and dropping a name that&#39;s been on Wall Street for 72 years.
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London equities fell on Tuesday after news of increased full-year writedowns at Barclays (NYSE:BCS) took the shine off banking stocks. There was further pressure in the sector after surprise news of fresh $2.85bn losses at Credit Suisse (NYSE:CS).
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Credit Suisse (NYSE:CS) led European equity markets lower on Tuesday after writing down the value of asset-backed investments by $2.85bn, sending a further jolt through the financial services sectors.
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LONDON (CBS.MW) -- Zurich Financial (ZZ:001107539) gained 2.6 percent in Swiss trade after agreeing to settle US nursing home litigation by paying $47.5 million.
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Assets of the nation's retail money market mutual funds fell by $2.06 billion in the latest week to $923.17 billion, the Investment Company Institute said Thursday.
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Business & money: Swiss bank takes a Â£5.72bn fourth-quarter hit and warns 2008 will be another difficult year