The numbers: Disappointing. Credit Suisse’s first-quarter profit fell by 34% versus the prior year, missing analyst expectations by some distance. The bank will try to steer the markets towards more flattering measures of its performance—the bank breaks out “core,” “strategic,” and “non-strategic” results in various combinations—but this won’t obscure a weak set of results. 208 more words
Tags » Brady Dougan
While negative news on Credit Suisse have gone viral, the chief executive of the Credit Suisse Group expressed deep regret on aiding U.S. tax evasion. Then again, this remorse became a bit stained when he said that the misconduct was only committed by a number of “rogue” employees. 197 more words
In spite of £8.2bn pounds in losses, the Royal Bank of Scotland is going to pay £588m in bonusses to its staff. The CEO of the – taxpayer-owned since 2008 – bank said that the issue of bank bonuses was a sensitive one, but that “I need to pay these people fairly in the marketplace to do the job”. 568 more words
What’s your loyalty worth…
“A new model for earning miles will increase rewards for those who spend more as well as differentiate the SkyMiles frequent-flier program for our premium travelers,” says Jeff Robertson, the Delta Vice President who oversees the airline’s loyalty operations. 362 more words
Switzerland’s second largest bank, Credit Suisse, has been accused of helping U.S. customers evade billions of dollars in taxes.
A Senate report released on Tuesday details how Swiss banks, including Credit Suisse, allegedly used cloak-and-dagger practices to aid and abet tax evasion by their U.S. 201 more words