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Credit Suisse Group AG

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  • *Sale a major step in Citi's plan to sell unwanted assets. Springleaf shares touch record high, Citi marginally higher. March 3- Springleaf Holdings Inc said it would buy Citigroup Inc's OneMain Financial Holdings Inc for $4.25 billion in cash, creating the largest subprime lender in the United States.

  • March 3- Citigroup Inc said it has agreed to sell its consumer finance unit OneMain Financial Holdings Inc to subprime lender Springleaf Holdings Inc for $4.25 billion in cash. The consumer finance company is part of Citi Holdings, which Citigroup created during the financial crisis to park assets that it wanted to eventually divest or wind down.

  • NEW YORK, March 2- E* Trade Financial Corp, the discount broker and bank that almost collapsed during the financial crisis, said on Monday it will retire $800 million of debt due in 2019 and issue $460 million of new eight-year notes at a lower interest rate. The debt restructuring cuts the company's outstanding debt Executives had publicly forecast they would...

  • FACTBOX-How Europe's "bad banks" have fared Monday, 2 Mar 2015 | 12:12 PM ET

    Belgium had two major banking failures, Fortis and Dexia. With the former, toxic assets were purchased for 11.7 billion euros by a separate vehicle Royal Park Investments, owned by Fortis, the Belgian state and BNP Paribas. Credit Suisse and Lone Star Funds bought RPI's assets for 6.7 billion euros in 2013. RPI is active now only in U.S. legal disputes.

  • *Sonova buy Germany's Hansaton Akustik. ZURICH, March 2- Sonova, the world's largest maker of hearing aids, will shift jobs out of Switzerland and freeze pay for Swiss staff as it cuts costs to cope with a surge in the value of the franc. Sonova said on Monday that 100 jobs would be lost in Switzerland, with some manufacturing roles shifted to China and client services...

  • NEW YORK, March 2- From its tower on Wall Street, Deutsche Bank enjoys a commanding view of lower Manhattan. That helped it close the global revenue gap with rivals like JP Morgan and Bank of America Merrill Lynch and put it within striking distance of No. 5- ranked Citigroup. It wants to take on U.S. investment banks on their turf and in February for example poached...

  • HONG KONG, March 2- China's yuan fell to its lowest level against the dollar since October 2012 and to within a hair's breadth of the lower limit of its daily trading range on Monday after the central bank cut its benchmark interest rate during the weekend. "The concern over the lower headline inflation profile amidst high real interest rate is precisely one of the...

  • ZURICH, Feb 27- Credit Suisse said on Friday it would put aside more funds related to a U.S. investigation into whether the Swiss bank deceived investors in mortgage-backed securities it had issued. "Developments in industry-wide litigation and investigations in the United States relating to mortgages have resulted in an increase in provisions relating to...

  • ZURICH, Feb 27- Credit Suisse said on Friday it would put aside more funds related to a U.S. investigation into whether the Swiss bank deceived investors in mortgage-backed securities it had issued. The U.S. government's examination of financial crisis-era mortgage abuses is now the Zurich- based bank's biggest legal worry, after it in May set aside a years-long...

  • BANGKOK, Feb 27- Thai factory output fell for a 22nd straight month in January, providing further evidence that the economy continues to struggle. Nine months after the army seized power to end political unrest, the military government has been unable to get Thailand's two major growth engines- exports and domestic demand- into higher gear.

  • BANGKOK, Feb 27- Thai factory output fell for a 22nd straight month in January, providing further evidence that the economy continues to struggle. Nine months after the army seized power to end political unrest, the military government has been unable to get Thailand's two major growth engines- exports and domestic demand- into a higher gear.

  • Nikkei firms as output data fans optimism for recovery Thursday, 26 Feb 2015 | 9:26 PM ET

    *Financial shares leading gains, Orix up. TOKYO, Feb 27- Tokyo share prices hit a fresh 15- year high on Friday on upbeat Japanese industrial output data, while the market awaited an announcement from the country's biggest pension fund on its latest asset allocations. "It seems like there is no reason to sell other than to take profits," said Takashi Hiroki, chief...

  • Feb 26- Bank of America Corp said on Thursday that two members of its board of directors and its chief accounting officer will be leaving the company in coming weeks. Directors Charles "Chad" Holliday, who chaired the bank's board until chief executive Brian Moynihan took on that role in October, and Clayton Rose will not stand for re-election at the company's...

  • E&P oil firms using stock sales to de-lever Thursday, 26 Feb 2015 | 5:36 PM ET

    "The biggest correlation to industry valuations is financial leverage, not what basin they are operating in or how they are hedged," said Robert Santangelo, co-head of Americas equity capital markets at Credit Suisse. Investment-grade rated Noble sold 21 m shares overnight Wednesday via Goldman Sachs and JP Morgan at $47.50, in the upper half of the $46.50-...

  • Feb 26- Bank of America Corp said Rudolf Bless will succeed Neil Cotty as chief accounting officer. Bless, currently Cotty's deputy, joined the bank last November, before which he was deputy chief financial officer and chief accounting officer at Credit Suisse Group AG. The bank also said in a regulatory filing on Thursday that board members Charles Holliday and...

  • *U.S. exports to Asia not profitable at current prices. Asia has traditionally taken more than 70 percent of annual global liquefied natural gas demand, and exporters developing new projects in the United States, Canada and Australia had been looking to China, Japan and South Korea- the world's top three buyers- as the most reliable outlets. Nuclear energy, coal and...

  • TJ Maxx, Marshalls to follow Wal-Mart in raising pay Wednesday, 25 Feb 2015 | 11:07 AM ET

    TJX Cos. said Wednesday that it will increase pay for its U.S. workers to at least $9 an hour starting in June. The announcement came a week after Wal-Mart Stores Inc. said it would increase starting wages for its U.S. employees to at least $9 per hour by April and by at least $10 by Feb. 2016. John Challenger, CEO of global outplacement firm Challenger, Gray& Christmas...

  • Too big to manage? HSBC's chiefs grilled over tax scandal Wednesday, 25 Feb 2015 | 4:56 AM ET

    HSBC, Europe's biggest bank, has endured a string of scandals and paid billions in penalties to regulators around the world. But recent revelations that its Swiss private bank helped the wealthy evade taxes are raising new questions about whether big banks like HSBC have become too vast to manage— and who should be accountable when things go wrong.

  • ZURICH, Feb 24- Switzerland's competition commission WEKO is looking into possible manipulation of price fixing in the precious metals market, its spokesman said on Tuesday. The Wall Street Journal reported the U.S. Department of Justice and the Commodity Futures Trading Commission are investigating at least 10 major banks, including Credit Suisse and UBS,...

  • SINGAPORE, Feb 24- The CEO of Singapore Exchange Ltd is to step down in June after five and a half years during which the bourse suffered a damaging penny stock crash that hit trading volumes. Singapore is Asia's leading venue for foreign exchange and has seen strong growth in derivatives trading, but the average daily value of shares traded on its exchange has...