Credit Suisse boss defends bank's role in collapsed trading product
15 February, 2018, 06:59
It reported a loss of 983 million Swiss francs (851 million euros $1.05 billion) in 2017, down from 2.7 billion Swiss francs the previous year.
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.
"If you look at the results we announced today and the key things in the results, we talked a lot about operating leverage i.e". Yet many of Credit Suisse's markets businesses went on to struggle throughout 2017 as volatility declined.
Credit Suisse has managed faster growth in its wealth management business than rival UBS, growing assets under management to a record 772 billion Swiss francs ($827 billion) previous year while cutting 3.2 billion francs in costs since 2015. Thiam said 2017 was a "crucial year" of delivery in its three-year restructuring plan.
The expectations are that Credit Suisse will mark a new increase in cash, both in Q4 2017 and in the whole year. Shares in Credit Suisse rose more than 3pc in Zurich.
Denmark's Prince Henrik dies at 83
Henrik had his fair share of engagements and patronages, as well as accompanying the queen on state visits and other functions. His family had spent many years in Vietnam but left the country following the defeat of the French in the First Indochina War.
"It's too early. We said that our philosophy would be to generate significant surpluses and to distribute 50 percent of that to shareholders either as a dividend or as a share buyback", he said.
However, 2018 could be the turning point.
Thiam pointed out that, nonetheless, it is up to the bank's board to make that decision. On a pre-tax basis, it was the bank's first year in the black since Thiam launched the turnaround plan in 2015.
Mr Thiam said recent volatility had boosted the bank's markets business at the start of this year, suggesting a return to choppier conditions could benefit investment banks after a period of calm.
Revenue is Asia's markets unit - trading - surged 15 percent in the first six weeks of this year, while income in its overall markets arm climbed by 10 percent, the bank said.
Long-time Sports Illustrated Swimsuit Issue star Tyra Banks announced the news to Danielle , who was overwhelmed with emotion. Meanwhile, this year's Sports Illustrated Swimsuit cover was graced by 24-year-old newcomer Danielle Herrington .
Allen Hobbs, who is also a Wake Forest graduate and Haas' agent, released a statement through the PGA Tour. The statement added: "his deepest condolences go out to the host family during this tragic and hard time".
U.S. intelligence agencies sharply disagree, and their darker view of Russia's actions was clear on Tuesday. The Russians have a strategy that goes well beyond what's happening here in the United States".
Ace disclose that Zuma did not threaten to challenge his removal by the party in court, as speculated by local media. But many South Africans, exhausted of Zuma's scandal and corruption tainted leadership, want him to step aside now.
In a private transaction in 2016, I used my own personal funds to facilitate a payment of $130,000 to Ms Stephanie Clifford . Cohen said he was not reimbursed by Trump for the payment to Daniels, adding that the payment was legal.
Compared to an average week day, florists experienced a 500 per cent increase in sales on Valentine's Day , according to the data. Kyra Kelley is a floral designer who says a lot of the product sold from Serendipity on Valentine's Day is bought from Greenleaf.
This April, millions of Christians all around the world will celebrate Easter, the holiest day in Christianity. Mix it with Shrove Tuesday, that Eve-of-Lent bacchanalia meant to be a last blast before the fasting begins.
He added that a commander called Mufti Noor Wali Wali was appointed by the Taliban chief to succeed Sanja. Pakistani officials had earlier reported unconfirmed reports about Sajna's killing in a USA strike.
Emily Sweeney starts to lose control of her toboggan before crashing . "I'm fine", Sweeney said as she got into an ambulance. American Emily Sweeney crashed in her final run at the 2018 Winter Olympics , knocking her out of the competition.
The strike was the second by the US against "pro-regime" forces since Wednesday, according to the USA military's Central Command. About Mattis said at the briefing, the transcript of which was spread by the Ministry of defense, reports TASS.
Williamson fires New Zealand to T20 win over England
England started brightly in reply before the consistent loss of wickets stifled progress, meaning the tourists fell 12 runs short. New Zealand can now secure a spot in the tri-series final with a win over Australia at Eden Park on Friday.
Airbus Halts Pratt A320Neo Shipments On Engine Issues
Fourteen jets operated by Indigo and rival Go Airlines India Ltd. are impacted by the issue, Airbus said in the statement. Airbus has traditionally offered two engine options on the A320, and the company maintained that approach on the neo.
WWE Raw: Rollins and Balor qualify for Chamber
Once again , Elias works the crowd like a pro here and he is quickly becoming one of the most over superstars in the WWE . Sasha Banks via pinfall: Bayley sold a right shoulder injury for the majority of this long, PPV-quality match.
Google wants to modernise email with AMP for Email
Snapchat, Instagram and particularly Facebook have all heavily used their own stories formats for full-screen displays of content. The AMP Project Website claims that the project would be immersive, fast and open.
THQ Nordic buys Metro, Saints Row, & Dead Island publisher
In May 2017, Deep Silver told Eurogamer Dead Island 2 was still alive , despite no news emerging on the game in over a year. Koch Media's business also includes films, which are created "primarily for German and Italian speaking territories".
Issok: PSG ready for Real Madrid - Emery
The former United man was part of the PSG squad that blew away a 4-0 lead in the first leg to suffer a 6-1 defeat in the second leg of the Champions League round of 16 last season.
India wicketkeeper MS Dhoni 46 runs away from ODI history
The Indian team won ruthlessly in the first three ODIs as they won them by 6 wickets , 9 wickets , and 124 runs respectively. Hashim Amla played a measured innings of 71 and shared partnerships of 62 with David Miller and 39 with Heinrich Klaasen.
Google manages to double its Pixel sales in 2017
Lastly, Google Pixel smartphones are only available through Verizon, while the iPhone models are available in all carriers. As hinted above, Google could have more success in attracting consumers by expanding the availability of the Pixel line.