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Credit Suisse Group AG

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  • GENEVA/ ZURICH, Jan 20- Retailers are rushing to offer bargains to Swiss shoppers after a shock surge in the franc, taking advantage of lower import costs but also fearful of losing custom to cheaper rivals over the border in France and Germany. The surprise decision to remove that limit has left the currencies virtually at parity, with one euro buying 1.01 francs...

  • *Revised budget assumes world oil price of $55 instead of $100. KUALA LUMPUR, Jan 20- Malaysia ringgit currency fell to a six-year low on Tuesday as the government cut its economic growth forecast, reduced its budget and widened its fiscal deficit target for 2015, to reflect lower oil and gas revenues due to plunging world prices. Announcing revisions to a 2015...

  • SYDNEY, Jan 19- Macquarie Group Ltd, Australia's largest investment bank, forecast an up to 20 percent jump in annual profit, with its commodities trading and foreign exchange businesses boosted by investors hedging against swings in asset prices. Macquarie's likely best annual profit since the 2008 global financial crisis vindicates its deep push into...

  • ZURICH, Jan 19- Julius Baer said on Monday that it did not suffer any losses soon after the Swiss National Bank's decision to abandon a three-year-old cap on the franc. Julius Baer said it expects to be able to quickly put in place measures to protect its profits from a far stronger franc, and that it would disclose details alongside its full-year earnings on Feb. 2.

  • ZURICH, Jan 18- Credit Suisse said on Sunday it planned to start charging institutional and large corporate clients for Swiss franc accounts following a move by the Swiss National Bank to introduce negative interest rates. "In view of current developments, commission on credit balances is being introduced in the case of institutional clients and large...

  • Sorry bankers, no swimming pool this year Saturday, 17 Jan 2015 | 5:50 AM ET

    London and Wall Street bankers look set to get slightly lower bonuses for 2014, based on pay details released this week by big U.S. banks.

  • NEW YORK, Jan 16- Retail foreign exchange broker FXCM Inc, reeling after customers lost more than $200 million from the surging Swiss franc, will get a $300 million loan from Leucadia National Corp to keep operating, the companies said in a statement Friday. "Leucadia`s support and this financing are by far the best alternative for FXCM, our customers, our...

  • Forex broker FXCM gets $300M lifeline from Leucadia Friday, 16 Jan 2015 | 12:04 PM ET

    U.S. foreign-exchange broker FXCM is getting a $300 million lifeline after being crippled by the impact of a change in Swiss currency policy. New York- based FXCM's fate was in question after suffering a $225 million loss. Financial services company Leucadia National Corp. said late Friday that it would provide a $300 million loan to FXCM to help it meet...

  • Europe shares close mostly up; Swiss stocks tumble Friday, 16 Jan 2015 | 11:43 AM ET

    European equities were mostly higher on Friday, but Swiss stocks weighed on wider benchmarks.

  • After SNB shock, "Swiss Made" may mean more expensive Friday, 16 Jan 2015 | 11:37 AM ET

    ZURICH, Jan 16- "Swiss Made" has traditionally stood for quality, precision and reliability. Unlike bigger multinationals based in the country, smaller companies tend to produce a higher proportion of their goods in Switzerland, meaning they lack the spread of costs in other currencies that could mitigate the franc's surge. Small and medium-sized companies...

  • LONDON, Jan 16- London and Wall Street bankers look set to get slightly lower bonuses for 2014 than the year before, based on pay details released this week by big U.S. banks and expectations in the industry. Goldman Sachs said on Friday its staff were paid $12.69 billion in compensation and benefits for 2014, up 0.6 percent on 2013. That equated to an average of...

  • NEW YORK, Jan 16- FXCM Inc's shares plunged nearly 90 percent in premarket trading on Friday after the retail foreign exchange brokerage said its clients had lost significant amounts of money from the big jump in the Swiss franc, and it may have too little capital. U.S.-based FXCM said Thursday that due to the volatility in the euro/Swiss franc pair, "clients...

  • NEW YORK, Jan 16- Retail foreign exchange broker FXCM Inc was fighting to stay above water on Friday as its stock tumbled nearly 90 percent in premarket trading after client losses related to the sharp appreciation of the Swiss franc. U.S.-based FXCM said Thursday that due to the volatility in the euro/Swiss franc pair, "clients experienced significant losses,...

  • More banks targeted for mortgage securities fraud Friday, 16 Jan 2015 | 6:24 AM ET
    New York State Attorney General Eric T. Schneiderman speaks at a press conference, March 3, 2014, in New York.

    NY's top law enforcement official plans to help bring more fraud cases against the world's biggest banks for selling shoddy mortgage-backed securities before the financial crisis.

  • Jan 15- Freeport-McMoRan Inc agreed on Thursday to pay $137.5 million to resolve a lawsuit claiming executives and directors had conflicts of interest that caused the natural resources company to overpay significantly for two oil and gas companies in 2013.. Shareholders led by a group of pension funds and union-owned Amalgamated Bank will receive...

  • *Bank of America, Citi fall after results. *Swiss National Bank scraps three-year-old euro cap on franc. "We're probably going to see slowing in the global economy, and it will be very difficult to sail through a global recession without getting touched," said Scott Colyer, chief executive officer of Advisors Asset Management in Monument, Colorado.

  • TORONTO/ MONTREAL, Jan 15- Target Corp's abrupt decision to withdraw from Canada is troubling news for many mall owners, as the most obvious potential buyer of property assets- Wal-Mart- is expected to cherry-pick from Target's 133 locations. Wal-Mart Stores Inc, the world's biggest retailer, already has stores near most Target locations, said Jim Danahy, chief...

  • NEW YORK, Jan 14- New York's top law enforcement official said he plans to help bring more fraud cases against the world's biggest banks for selling shoddy mortgage-backed securities before the 2008 financial crisis. Eric Schneiderman, the state's attorney general, said some of these banks were involved in the same kind of wrongdoing that has led him since 2012...

  • NEW YORK, Jan 15- The Federal Home Loan Bank of San Francisco said on Thursday it reached a settlement worth $459 million with certain banks it sued after buying subprime mortgage-backed securities that soured following the housing bust. The banks sued included JP Morgan Chase, Credit Suisse, Morgan Stanley, Countrywide Securities, UBS Group AG, Deutsche Bank...

  • ZURICH, Jan 15- The Swiss National Bank shocked financial markets on Thursday by scrapping a three-year-old cap on the franc, sending the currency soaring against the euro and stocks plunging on fears for the export-reliant Swiss economy. Coming a week before the European Central Bank is expected to unveil a bond-buying programme to counter deflationary...