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Credit Suisse Group AG

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  • ZURICH, Oct 23- Credit Suisse reported stronger-than-expected third quarter profits on Thursday, bolstered by its investment bank, which benefited from a rise in bond-trading and fees from the multi-billion dollar listing of China's Alibaba. This marks a return to profit for the Zurich- based bank after it reported its biggest loss since the financial crisis...

  • Credit Suisse Q3 profit more than doubles Thursday, 23 Oct 2014 | 2:05 AM ET

    GENEVA— Credit Suisse's profits more than doubled in the third quarter as Switzerland's second-largest bank benefited from cost cutting, brisk business in emerging markets and the services it provides for wealthy clients. The Zurich- based bank pleaded guilty in May to aiding U.S. tax evaders and agreed to pay about $2.6 billion to the U.S. government and...

  • SHANGHAI/ HONG KONG, Oct 23- Squeezed between cut-throat competition from online financing firms and rising funding costs, China's midsize banks are falling out of investors' favour as they increasingly lag behind the country's top five lenders. China's five biggest banks are Industrial and Commercial Bank of China Ltd, China Construction Bank Corp,...

  • *China, HK fees account for 55 pct of AsiaPac region in 2014. HONG KONG, Oct 23- Private firms have overtaken state-owned companies this year for the first time as the biggest drivers of investment banking revenues in China- a sign of how Beijing's reforms are transforming private capital's role in the world's second-largest economy. Private firms are also...

  • HONG KONG, Oct 22- Some of the world's biggest banks and asset managers have asked the Hong Kong securities regulator to delay a landmark China stock trading link that could generate billions of dollars of trade a day due to uncertainty over the scheme rules, according to a letter seen by Reuters. The Hong Kong- Shanghai stock connect scheme, a milestone in the...

  • UPDATE 3-Brazil's JBS Foods to delay IPO Tuesday, 21 Oct 2014 | 5:46 PM ET

    SAO PAULO, Oct 21- JBS SA received regulatory approval to delay an initial public offering of its JBS Foods unit in Brazil, according to a securities filing on Tuesday, putting off a plan to raise 4 billion reais for a few more weeks or until next year. The request to make JBS Foods a public company was removed from securities industry watchdog CVM's website, but the...

  • BRUSSELS, Oct 21- European Union antitrust regulators are set to fine JPMorgan, UBS and Credit Suisse collectively over $115 million for rigging Swiss franc LIBOR benchmark interest rates, a person familiar with the matter told Reuters. Royal Bank of Scotland alerted the European Commission to the wrongdoing and so would not be penalized for its own role in the...

  • Oct 20- Platform Specialty Products Corp said it would buy Arysta LifeScience Ltd for about $3.51 billion, Platform's third acquisition this year as the company looks to strengthen its agrichemicals business. More than 65 percent of Arysta's sales are in high-growth regions such as Latin America, Africa, Central and Eastern Europe, China and South Asia.

  • Data analytics company Workiva files for IPO Friday, 17 Oct 2014 | 6:11 PM ET

    Morgan Stanley and Credit Suisse are among the major underwriters for the offering, the company said in a regulatory filing on Friday. The company had more than 2,100 enterprise customers as of Sept. 30, including JPMorgan Chase& Co, Philip Morris International, Boeing Co and Wal-Mart Stores Inc. The Ames, Iowa- based company's net loss widened to $28.4 million in...

  • *Italy's Monte Paschi seen at risk. LONDON, Oct 17- Violent swings on financial markets in the past week have deepened investors' anxiety about what Europe's review of the health of its banks will reveal later this month. Concerns range from losses on bond portfolios held by banks in peripheral euro zone economies such as Italy or Greece to the greater difficulty...

  • BUSINESS-NEWS-SCHEDULE AT 0830 GMT / 4.30 AM ET Friday, 17 Oct 2014 | 5:02 AM ET

    LONDON- World stocks hit a nine-month low but oil and southern European bonds are off their week's lows, as investors begin to dust themselves off after one of the most volatile spells in world markets in years. LONDON- The Bank of England may need to keep interest rates lower for longer than previously thought to reduce the chance of Britain's economy slipping...

  • NEW YORK, Oct 16- Wells Fargo is closing down its alternative trading system, or "dark pool," due to decreased customer demand, the company said on Thursday. The move by Wells Fargo comes as regulatory scrutiny over dark pools has intensified over concerns about the lack of transparency in the trading venues. Wells Fargo's dark pool ranks 32nd out of 41 alternative...

  • NEW YORK, Oct 16- Measuring the point at which investors have exhausted their selling in a market downturn is an inexact science at best, and at its worst akin to sticking a finger in the air to judge shifting winds. For months, worries about European economy and the conflicts in the Middle East and between Russia and Ukraine didn't shake the bullish conviction as...

  • *Provisional deal is Airbus's largest by number of planes. NEW DELHI/ PARIS, Oct 15- Indian budget airline IndiGo handed Airbus its biggest ever potential plane order on Wednesday-- but shares in the planemaker slid on fears that the global economic engine underpinning recent jet demand is stalling. But while then, shares in the Airbus parent group jumped 6 percent...

  • *FTSE 100 has lost over 8 percent since Sept. 4. The decision to scrap the offering, which could have valued the firm at about 800 million pounds, casts a shadow over the prospects of the bigger and more widely known Virgin Money, another bank seeking to list this month. Aldermore and Virgin are among so-called challenger banks which the government hopes can break the...

  • *Order would be Airbus's largest by number of planes. NEW DELHI/ PARIS, Oct 15- Indian budget airline IndiGo has agreed to buy 250 A320 planes from Airbus, a purchase that could be worth nearly $26 billion and rank as the largest single order of jets from the European planemaker. India's biggest airline is expanding aggressively as it seeks to win more market share in...

  • Shire: AbbVie should proceed with $55B acquisition Wednesday, 15 Oct 2014 | 6:44 AM ET

    The drugmaker Shire wants AbbVie to stick with its roughly $55 billion acquisition bid, and it is reminding its U.S. counterpart of the hefty breakup fee it could receive if things don't work out. Shire's U.S.-traded shares shed nearly a quarter of their value Wednesday morning, a day after AbbVie Inc. disclosed that it was reconsidering a deal it had fought for...

  • AbbVie reconsiders $54 billion Shire deal Wednesday, 15 Oct 2014 | 12:51 AM ET

    AbbVie is reconsidering its takeover of Shire, putting it on track to become the biggest deal to be torpedoed by a crackdown on tax inversions.

  • BRASILIA, Oct 14- Brazil will maintain plans to raise domestic fuel prices this year, despite a sharp drop in international crude oil prices, to help debt-laden state-run oil company Petrobras, a government source said on Tuesday. The price of gasoline on the international market has slipped below the domestic price of the fuel in Brazil, Credit Suisse said in a...

  • Ailing global economy could lead Fed to delay hike Tuesday, 14 Oct 2014 | 2:24 PM ET

    "I'm beginning to think that the Fed might delay," said Bob Baur, chief economist at Principal Global Advisors, an asset management firm. "If we don't see a better situation in Europe and better things out of Japan and stability in China, they might hang on just a little bit longer." Yet so far, the prospect of continued lower rates— which make loans cheaper and can fuel...