Credit Suisse Trims Loss, Cites Upside Of US Tax Reform
Credit Suisse Trims Loss, Cites Upside Of US Tax Reform
Credit Suisse trims 4Q loss, cites upside of US tax reform
15 February, 2018, 07:01
Credit Suisse has come under pressure from an activist investor, Swiss hedge fund RBR, which took a stake in the bank previous year and is pressing for the firm to hive off its investment bank and move it to NY from Zurich.
Credit Suisse said on Wednesday that it was under investigation in the United States over its Asian hiring practices, joining the ranks of the global investment banks being probed by regulators for recruiting staff in exchange for business.
Mr Thiam insisted: "Our strategy is working".
Credit Suisse shares rose 3.7 percent to 17.1 Swiss francs by 0935 GMT.
The bank said it will pay its first all-cash dividend in four years, a move it adopted last year following a pay snafu which saw Credit Suisse (CS) back down amid massive pressure from large institutional investors.
Thiam was positive about business in the first few weeks of 2018.
Chris Jordan produces magical catch against New Zealand
Alex Hales had taken the attack to New Zealand but Ish Sodhi dismissed him and then James Vine was also quickly sent back. England were moving at a quick pace in their chase of 197 against New Zealand despite the early wicket of Jason Roy.
The expectations are that Credit Suisse will mark a new increase in cash, both in Q4 2017 and in the whole year.
The bank said market volatility - which was also behind the meltdown of its exchange-traded notes used to bet on stock market swings - was a double-edged sword.
After a strong start to 2018, Credit Suisse said: "Our market-dependent activities remain exposed to a number of uncertainties, from geopolitical developments, to the path and speed of interest rate changes in major economies", the Credit Suisse earnings release said.
"We've been through a lot with this thing".
"They're on the right track", Thomas Jaeger, a senior portfolio manager at Mirabaud Asset Management, said ahead of the results.
Credit Suisse says it narrowed its fourth-quarter loss as pre-tax income swung into the black, while the Swiss bank predicted a positive impact from the US tax reform in the future. On a pre-tax basis, it was the bank's first year in the black since Thiam launched the turnaround plan in 2015.
Real Good Food Company - Get $10 off pizzas on February 9 by using the code PIZZA when you place an order online. Extra pepperoni and cheese for $1 when you upgrade to Little Caesars "EXTRAMOSTBESTTEST" at participating stores.
West Ham are vying to go five successive league and cup games without defeat for the first time at the London Stadium . We will not be signing a player that the manager hasn't seen play, and we hope we will spend our money better.
Israel launched a second large-scale attack, striking 12 targets inside Syria , including four Iranian installations. Lebanon is protesting Israel's use of its airspace to target Syria , saying it will complain to the U.N.
And Puel claimed both he and the Algeria global will focus their efforts on the rest of the season without any issues. RIYAD MAHREZ is on the Leicester bench for their clash against Manchester City after returning to training yesterday.
Until now, the photo was taken farther away from Earth than any image ever, a record that stood for more than 27 years. As part of the probes mission to rendezvous with a KBO, the team was searching for forward-scattering rings or dust.
Brian O'Neill scored in the first period and Jordan Greenway added a goal in the second to put the U.S.in front 2-0. Lamoureux's twin sister Jocelyne touched off an even larger brawl in a December 4-1 USA win in Grand Forks, N.D.
Earlier, the state police informed that three security personnel and a civilian suffered injuries in the attack. The latest reports coming from Jammu is that third militant has been killed, taking death toll to five.
A spokesperson for Oxfam said the organisation was deeply shocked by the new allegations, admitting the problem was "sector-wide". The charity said it had publicly announced an investigation into the allegations when they surfaced seven years ago.
The downing of the plane prompted a broad wave of Israeli strikes against a dozen Syrian and Iranian targets in Syrian territory. Israel says the situation started with an Iranian drone crossing into its territory from Syria at around 4:30 a.m.
Bomber sentenced to 2 life terms for Manhattan attack
Rahimi, known to many as the "Chelsea bomber", is a 30-year-old US citizen born in Afghanistan who grew up in New Jersey. NYPD Commissioner James O'Neill noted in a statement that Rahimi's sentencing should deter future acts of terror.
Snapdragon X50 hits 4.51 Gbps
Qualcomm says the X24 is the first announced Category 20 LTE modem supporting up to a whopping 2 Gbps of downstream bandwidth. Above: Real world speeds provided by the Snapdragon X50 5G modem .
Google Search Takes On 'Stories' In AMP Format
Google's AMP for Email will make the content in emails more up-to-date and actionable, improving productivity in the process. Initially, it'll only be available for those who sign up to the optional Gmail Developer Preview of AMP for Email .
US House passes budget deal, ending government shutdown
After the vote succeeded, Senate Majority Leader Mitch McConnell kept his word to move to open an immigration debate next week. US Senator Michael Bennet (D-CO) has released a statement following his vote against the budget agreement.
Pak activist Asma Jahangir dies of cardiac arrest
She was not only a symbol of bravery and strength for the people of Pakistan but also an inspiration for women across the globe. While condolences poured in from all sections, there was a section on people who condemned her even after she passed away.
David Beckham and Rio Ferdinand lead Liam Miller tributes
Hailing from County Cork, the 36-year-old passed away following illness and will be sadly missed by his family and friends. Celtic held a minute's silence in honour of Miller ahead of their Scottish Cup fifth round win over Partick Thistle.