Credit Suisse writedowns, trader suspensions leave market reeling
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Credit Suisse faced accusations of "ineptitude" on Tuesday after revealing nearly three billion dollars in further writedowns and suspending some of its traders for pricing errors and other irregularities.
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NEW YORK (Dow Jones/AP) _ At least four New York Stock Exchange traders were fired or suspended this week as federal and exchange regulators prepare to bring charges against them for allegedly
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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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Fresh writeoffs at big European and Japanese banks on Wednesday threw the investor spotlight firmly back onto the credit crunch after days gazing at Societe Generale's stunning losses, which it blames on a junior trader.
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Goldman Sachs Group  and Credit  Suisse Group  on Friday said they will cut about 2,000  job worldwide as a credit crisis puts a damper on fixed-income  trading and corporate dealmaking.
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A dizzying somersault on the markets left Wall Street traders and everyday investors biting their nails, and wondering  what lies ahead.
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Wall Street stocks endured a volatile session on Wednesday in which a $7.9bn writedown at Merrill Lynch revived worries about banks' exposure to risky investments.
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European equity markets slid sharply on Thursday as investors shrugged off the combined action by central banks to improve liquidity in the global banking system.
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Access Brokerage liquidators said today they had discovered a $5 million shortfall in the share trader&#39;s accounts and the Bank of New Zealand said it has frozen all accounts in the name of Access Brokerage Ltd, including trust accounts.
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Business & money: Swiss bank suspends 'handful' of traders suspected of overvaluing asset-backed securities
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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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The FTSE 100 lost ground on Tuesday as news of shock writedowns at Credit Suisse (NYSE:CS) overshadowed reassuring figures from Barclays (NYSE:BCS).
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Credit Suisse  trimmed its  full-year write-downs linked to the subprime crisis to 2.0  billion Swiss francs ($1.82 billion) on Tuesday in contrast to  rivals hits by rising charges and raked in billions in new  investments from wealthy clients.
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Credit Suisse suspended a number of traders in connection with a $2.85 billion overvaluation of assets.
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Goldman Sachs Group  and Credit Suisse Group  on Friday said they will cut about 2,000 job worldwide as a credit crisis puts a damper on fixed-income trading and corporate dealmaking.
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Strong results from Barclays (NYSE:BCS) on Tuesday offset news of further writedowns at Credit Suisse (NYSE:CS), while a strong open on Wall Street helped European euqities to a second session of gains.
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Credit Suisse bank said on Tuesday it had suspended a "handful" of traders after an internal review showed up so-called mismarkings and pricing errors in its structured credit trading business.