Credit Suisse Is Finally Finding Its Sweet Spot

Credit Suisse boss defends bank's role in collapsed trading product

Credit Suisse boss defends bank's role in collapsed trading product

Credit Suisse's 2017 loss came on the back of a 2.3 billion franc writedown triggered by USA tax reform.

Credit Suisse reported a 2017 full year loss of CHF983 million, that's below expectations of around a CHF1.1 billion loss.

The authorities in question included the Department of Justice and the US Securities and Exchange Commission, the Swiss bank said, adding that it was "cooperating with the authorities".

Mercedes-Benz S-Class Facelift Launching In India On 26th February
Buyers can now opt for the 10.25-inch COMAND display screen, along with the 12.3-inch fully digital instrument cluster. Obsidian Black paint is used on exterior mirror caps, the spare wheel ring and the trim on the front and rear bumpers.

Credit Suisse has come under pressure from an activist investor, Swiss hedge fund RBR, which took a stake in the bank past year and is pressing for the firm to hive off its investment bank and move it to NY from Zurich.

The bank's capital position also improved in the last quarter of 2017. Thiam said 2017 was a "crucial year" of delivery in its three-year restructuring plan. This unit saw an increase of 13 percent year-on-year for its assets under management.

Credit Suisse Group AG's trading revenue rebounded at the start of the year along with market volatility, in what Chief Executive Officer Tidjane Thiam said was evidence that the investment bank was alive and well after two years of cost reductions. On a pre-tax basis, it was the bank's first year in the black since Thiam launched the turnaround plan in 2015.

Sweden wins 1st gold medal in PyeongChang
The Norwegians have now tied Russian Federation for the most medals all time in women's cross-country skiing with 37. The indefatigable Bjørgen has designs on returning to the podium at PyeongChang 2018: "I am here to take medals".

Speaking to CNBC, Thiam said that it's "too early" to announce any share buybacks or higher dividends. In the fourth quarter, the bank took in 4 billion francs, a reversal of outflows it had suffered in the year-ago period.

"In the first six weeks of 2018, we have seen a significant pick-up in market volatility, which on the one hand had a positive impact on our secondary activities, and on the other hand, negatively impacted our primary calendar as clients wait for calmer markets in order to transact", the bank said in a statement.

The bank said that veteran Richard Thornburgh, a former CSFB investment banker, would not stand for reelection to the board this spring.

The Hill: House passes stopgap spending measure with defense money
Convening early this morning, the House voted 240-186 to approve the deal, following the Senate's 71-28 passage hours earlier. House Speaker Paul Ryan appeared to shrug off concerns that several Republicans might oppose the deal.

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