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Credit Suisse Group AG

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  • *Selloff in government bonds from Germany to Australia. As bond yields rose sharply from Germany to Australia in recent days, stock markets began to flounder. An index of Asian shares have fallen 3 percent after hitting a more than seven-year high on April. 29. On Wednesday, MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3 percent, while...

  • *Quarterly net profit 1.98 bln Sfr vs 1.1 bln Sfr in poll. ZURICH, May 5- Switzerland's UBS reported its biggest quarterly profit in nearly five years on Tuesday, justifying the bank's decision to refocus on wealth management and slim down its investment bank. Inflows of cash from rich customers in Asia and a surge in foreign exchange dealing after the Swiss...

  • JAKARTA, May 5- Indonesia's economic growth in the first quarter slumped to its weakest annual pace since 2009, leaving its central bank in a bind as rising inflationary pressures and a faltering currency crimp its ability to jump-start Southeast Asia's biggest economy. "Sequential growth momentum probably has bottomed in the first quarter already but the...

  • Reflecting this uncertainty, analyst valuations vary widely, with Morgan Stanley predicting it may start with a market worth of A $8.5 billion and Investec around $12 billion. But if commodity prices are weak, it's going to be a bit more problematic, "said Paul Xiradis, chief executive of Ausbil Investment Management, a BHP Billiton Ltd shareholder.

  • Pricey specialty drugs are helping CVS Health thrive after kicking tobacco sales, with revenue from the treatments pushing first-quarter earnings well above Wall Street expectations for the drugstore chain and pharmacy benefits manager. Insurers and other bill payers are looking more for help from companies like CVS Health to corral that cost.

  • Russia looks set to extend import ban on Western food Thursday, 30 Apr 2015 | 7:43 AM ET

    MOSCOW, April 30- Russia looks likely to extend a ban on Western food imports beyond an Aug. 7 deadline, with a lack of incentive to lift its embargo due to the prospect of extended European sanctions. The ban on most food imports from the United States, European Union and other countries worth $9 billion is due to run out on Aug. 7, a year after it was imposed in...

  • *Euro surges above $1.12 ahead of euro zone inflation. LONDON, April 30- World stock markets and the dollar remained in a sharp sell-off mode on Thursday, having been jolted sharply lower by weak U.S. growth data and cautious comments from the Federal Reserve. Jefferies' global equity strategist Sean Darby said markets were now having to readjust fast to the...

  • MOSCOW, April 28- Russia's central bank is expected to further trim its main lending rate on Thursday following a sharp rally in the rouble and as inflation expectations ease. Central bank Governor Elvira Nabiullina said earlier this month that the stronger rouble should allow the bank to lower its key rate. "We scaled down our expectations for a rate cut from...

  • Japan industrial output falls, but still tops forecasts Wednesday, 29 Apr 2015 | 7:56 PM ET

    Japan's industrial production fell 0.3 percent in March, coming in well above the 2.3 percent decline that had been forecast in a Reuters poll.

  • China rivals vie for state backing to buy HP unit Wednesday, 29 Apr 2015 | 6:00 PM ET

    BEIJING, April 30- The bidding for a controlling stake in Hewlett-Packard Co's data-networking business in China, worth more than $2 billion, has thrown up a rare tussle between two Chinese state-backed firms who are wrangling over which has Beijing's backing. On Feb. 15, China's National Development and Reform Commission approved Shanghai- based Huaxin to bid...

  • BEIJING, April 29- Growth in China's vast factory sector likely stalled in April, a Reuters poll showed, reinforcing persistent sluggishness in the economy and arguing the case for more policy easing. "The government's policies to keep the economy growing at a steady rate have not passed on to the real economy yet," said Hwabao Trust analyst Nie Wen.

  • Capstone Mining reports 1Q loss Tuesday, 28 Apr 2015 | 7:33 PM ET

    Vancouver, British Columbia _ Capstone Mining Corp. on Tuesday reported a loss of $16.7 million in its first quarter. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share. Four analysts surveyed by Zacks expected $122 million.

  • Small shops like China Renaissance, Hina Group and Kilometre Capital Management arranged crucial early-stage financing years ago for then-startup firms that have developed into billion-dollar businesses. As China transforms itself into a more services-oriented economy and the government looks to bolster consumer demand, Internet and tech startup...

  • Swiss money laundering reports hit record high in 2014 Tuesday, 28 Apr 2015 | 8:17 AM ET

    ZURICH, April 28- Switzerland's money laundering office received a record number of suspicious activity reports last year, in part due to increased vigilance from Swiss banks. The Alpine nation has faced intense international pressure over bank secrecy, tax evasion and money laundering, most recently highlighted by allegations that the Swiss arm of HSBC had...

  • LONDON, April 27- Deutsche Bank's plan to jettison much of its German retail bank and withdraw from one in ten countries sees it join a growing list of banks choosing to shrink and simplify to survive. HSBC has already sold or shut 77 businesses and could yet dispose of big operations in Brazil or Turkey. Credit Suisse's incoming CEO Tidjane Thiam is expected to cut...

  • *To exit 7-10 countries but invest in India, China. FRANKFURT, April 27- Deutsche Bank will cut 200 billion euros in investment bank assets and exit a tenth of the countries in which it operates as part of a restructuring programme designed to boost earnings and cut risk. After sticking with its costly universal banking model in the aftermath of the financial...

  • China stocks: This may spark another round of buying Monday, 27 Apr 2015 | 12:28 AM ET
    A woman holding balloons walks near Oriental Pearl Radio & TV Tower in Shanghai

    China shares have surged this year, but with active fund managers still underexposed to the market, the rally isn't over, Goldman Sachs said.

  • FRANKFURT, April 25- If running a global bank is complicated, cutting one back is even more difficult. Deutsche Bank faces a long and costly battle, analysts say, to sell Postbank and pare investment banking, the new strategic goals it outlined late on Friday. Germany's flagship lender comes late to restructuring after European rivals such as Barclays and Credit...

  • RIO DE JANEIRO, April 24- Petrobras' decision to take a massive $17 billion write-down to account for overvalued assets and corruption-related costs is only the start of a broad overhaul needed to revive Brazil's troubled state-owned oil company. While many have focused on the $2.1 billion, or 12 percent of the write-down, related to money siphoned off in a...

  • *Greece, creditors wrestle over reforms to reach debt deal. The absence of a breakthrough in debt negotiations between Greece and its creditors also underpinned safe-haven demand for low-risk government debt, analysts said. "We expect the FOMC to leave everything on the table and maintain a similar tone to the last statement," said Ira Jersey, head of U.S. interest...