FRANKFURT, Germany— Swiss bank Credit Suisse says its net profit fell 34 percent in the first quarter, more than expected, as bond-market woes hurt earnings at its investment banking business. Profit dropped to 859 million Swiss francs from 1.303 billion francs in the same quarter a year ago.» Read More
European regulators should stop banker-bashing and allow banks to do their job or risk losing ground to competition from the US, Middle East and Asia in the financial sector, Howard Wheeldon, senior strategist at BGC Partners, told CNBC.com.
"I'm on my way to an unknown destination in Asia where I'm going to look for a cave," Warren Buffett joked. "If the U.S. Armed forces can't find Osama bin Laden in 10 years, let Goldman Sachs try to find me."
The Federal Reserve will inform some U.S. banks on Friday that they passed a new round of stress tests, giving them the green light to raise dividends for the first time since the financial crisis, the Wall Street Journal reports.