InfoAnda - Credit Suisse posts biggest full year loss ever

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

US drone attack kills at least seven in Pakistan: officials | 4 July 2009
Tajikistan bans cell phones from schools | Technology | | 11 March 2009
ICOA CEO says never had acquisition talks with Google | | 27 November 2012

'Consensus emerging' on climate deal at EU summit | 12 December 2008

">Forum Views () ">Forum Replies ()

Read more with google mobile : Credit Suisse posts biggest full year loss ever

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Credit Suisse posts biggest full year loss ever AFP - Thursday, February 12 GENEVA, (AFP) - - Swiss banking giant Credit Suisse on Wednesday posted its biggest loss in history of 8.2 billion francs for 2008 amid further writedowns in asset values for leveraged and structured products. ADVERTISEMENT Switzerland's second biggest bank said it lost 6.0 billion francs in the last quarter alone, leading to the "disappointing" full-year result of 7.07 billion dollars or 5.49 billion euros in losses. Credit Suisse, which has suffered damage in the financial turmoil, said however, that it was back in the black so far this year. Chief executive Brady Dougan said: "We have had a strong start to 2009 and were profitable across all divisions year to date." The bank has also positioned its businesses to be "less susceptible" to any persisting adverse market trends, he added. The latest news failed to lift the stock, which fell in opening trade. At 0802 GMT, it was down 5.57 percent to 29.16 Swiss francs, underperforming the Swiss Market Index, which was down 1.09 percent. Analysts also expressed reservations about the bank's positive outlook. "The start in 2009 seems good, but it is not a guarantee for a sustainable rebound. A confirmation in the next quarters must now follow," said Bank Wegelin, which warned that the stock would come under pressure on Wednesday. During the last three months of 2008, the bank said it experienced "intensified" market disruption which hit its investment banking unit. Net writedowns in leverage finance and structured products handled by the investment bank reached 3.2 billion francs. "In December 2008, as index-hedge positions rallied and cash markets depreciated, Credit Suisse incurred significant losses due to standard hedges becoming ineffective in the extraordinary market environment," it explained. Chief financial officer Renato Fassbind also told journalists in a conference call that while "you should never say this is the worse we've ever had," there should be "some certainty that these losses are contained" as the bank has been cutting its risk positions. The bank also stressed that its capital position was "very strong." Its tier one ratio -- a measurement of the bank's capital adequacy -- stood at 13.3 percent at the end of the year. It has set a target of 12.5 percent for this ratio, compared to a previous target of 10 percent, said Fassbind. Credit Suisse has so far fared better in the financial turmoil than its local rival UBS, which on Tuesday posted losses of almost 20 billion francs for 2008, its second consecutive annual loss and the biggest in Swiss corporate history. Credit Suisse last year posted net profits of 7.76 billion francs, and unlike UBS, has not had to resort to government aid. Email Story IM Story Printable View Blog This Recommend this article Average (1 vote) Sign in to recommend this article » Most Recommended Stories » Enlarge Photo Swiss banking giant Credit Suisse on Wednesday posted its biggest loss in history of 8.2 billion francs for 2008 amid further writedowns in asset values for leveraged and structured products. Most Popular – Top Stories Viewed Obama vows mortgage aid as stimulus blitz hits Florida Taliban video of Polish hostage beheading Indian woman has football-sized tumour removed from jaw British minister says crisis worst for 100 years Spain withdraws cervical cancer shot after illnesses View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Wednesday, 11 February 2009
Actor Faizon Love Charged With Felony Assault
More Tibet unrest cannot be ruled out: officials | International |
Ex-Village People Lead Singer Victor Willis Sues New Group For Using His Image And Voice
Tom Cruise's Coffee Cup Up For Auction In Brazil
Court denies Verizon petition on customer switching | Technology |
U.S. lawmaker wants satellite companies to carry local TV | Technology |
Intel to invest $7 billion in U.S. as recession deepens | Technology |
General Motors To Cut Another 10,000 Jobs
Leahy Proposes "Truth Commission" To Investigate Bush Administration
Update: Close Senate Vote Passes $838 Billion Economic Stimulus
New Jersey's Largest Utility Plans To Generate 120 Megawatts Of Electricity From Solar Panels Mounted On Power Poles, Schools, Municipal Buildings
Man Distraught Over Losing Business Leads LA Police On Low-Speed Chase Before Shooting, Killing Self
Developing: Senate Preparing To Vote On $838 Billion Stimulus
Obama Pushes Stimulus In Florida As Senate Prepares Final Vote On $838 Billion Bill
Update: Treasury Dept. Details Plan For Remaining Bailout Money
U.S. Dairy Farmers Find Costs Exceed Income With Milk Prices Down
U.S. Census Bureau Releases Data On Older Workers In Nevada; Last In Series Of Profiles By State
Rihanna postpones Malaysian show amid attack case | Entertainment |
Pfeiffer says mature actresses get better roles | Entertainment |
Bob Marley family in licensing deal for clothes, food | Entertainment |
Actors guild, studios set date for contract talks | Entertainment |
Louvre sets stage for Funeral of Mona Lisa | Entertainment |
Live Nation to buy Ticketmaster | Entertainment |
Man Distraught Over Losing Business Leads LA Police On Low-Speed Chase Before Shooting, Killing Self
Microsoft Secures 10,000th Patent This Month
Ex-Taiwanese First Lady Owns Up To Money Laundering
Tom Cruise's Coffee Cup Up For Auction In Brazil
Disarray as Israeli election rivals claim victory | International |
Double suicide blasts kill eight in Kabul: police
With few details, Geithner plan disappoints markets
Suicide blast, gunfire in Kabul: officials | International |
Israeli rivals battle for power after tight vote
Tsvangirai set to become Zimbabwe's PM
Veteran Actor Phil Carey Of "One Life To Live" Dies At 83
Australia sifts through ash to ID bushfire victims | International |
Palestinians: No talks without settlement freeze
Live Nation And Ticketmaster Announces Merger
US lawmakers seek consensus on stimulus
Ship movements signal possible North Korea missile test | International |
Kadima beats Likud by single seat in Israel vote
Obama turns on Wall Street
Sri Lanka rebels deny gunning down civilians | International |
Obama to decide soon on Afghan troop deployments
EU seeks joint economic action amid French protectionism row
Zimbabwe's Tsvangirai to take office as PM | International |
Disarray as Israeli election rivals claim victory
Spain withdraws cervical cancer shot after illnesses
Drug gang clash with army kills 21 in Mexico | International |
Israeli election too close to call, both claim win
U.S. diplomat holds Afghan supply talks in Moscow | International |
Giant horse chosen as Britain's 'Angel of the South'
Divisive Lieberman a big winner in Israel election
China prosecutors probe television complex blaze | International |
Shark attacks diver in Sydney Harbour | International |
Gates: Decision near on more troops in Afghanistan
Netanyahu reinvents himself in election comeback
GM leader says he'll meet stringent fuel standards
European cities sign climate change agreement
US-TECH Summary
Google tool helps consumers reduce energy usage | Technology |
Certicom agrees to RIM's sweetened takeover offer
FBI Investigates Employer Of Retarded Workers Found In Squalid Iowa Bunkhouse
Kuwaiti oil minister: Prices will continue to fall
Crooks set cyber traps on Digg: security firm
Many local TV stations to go ahead with DTV switch | Technology |
Texas Peanut Processing Plant Closed
US military deaths in Afghanistan region at 576
Medical Society Probes Doctor Who Implanted Embryos On Octuplets' Mom
Google tool helps consumers reduce energy usage
Certicom agrees to RIM's sweetened takeover offer | Technology |
US grappling with Canada's exit from Afghanistan
Feb 10 Highlights Of Low Points In The U.S. Economy
Cuba looks to expand Internet access
System peers under skin to reveal muscle actions | Technology |
Afghan government must improve: Mullen
Postage To Cost 2 Cents More Starting May 11
IBM climbs further into the computing cloud
College friends take fraternity dorm humor to TV | Technology |
Tornado Damages Homes, Knocks Down Power Lines In Central Oklahoma
Windstorms batter France, Britain on flood alert
Gates jokes about North Korean missile test
College friends take fraternity dorm humor to TV
Cuba looks to expand Internet access | Technology |
Pentagon Report Shows Obesity In U.S. Military Doubled Since 2003
Clinton holds out hope for useful talks with Iran
China's Monthly Auto Sales Overtake U.S. For First Time In January
Bahrain Web crackdown triggers calls for reform
Some dismayed at Obama indecision on human rights
Wall Street Tumbles On Bank Bailout Plan
System peers under skin to reveal muscle actions
Geithner rescue plan fails to ease jitters
SanDisk to mass produce 64GB memory cards
China sentences 76 over Tibet riots: state media
Thailand upset with Angelina Jolie refugee comments
Sri Lanka govt denies shelling that killed 16 patients
Heigl, Knight eye Grey's Anatomy exit: report | Entertainment |
Suicide bombers attack Kabul
Buena Vista bassist Cachaito Lopez dies at 76 | Entertainment |
Myanmar envoy brands boatpeople 'ugly as ogres': report
Will Smith leads Forbes star bankability list | Entertainment |
China report: 76 sentenced so far for Tibet riots
Rihanna postpones show, police continue probe | Entertainment |
Looting reported in Australian wildfire zone
Old Hollywood dominates at Oscar fashion preview | Entertainment |
China kills fowl after bird flu
WALL-E the film to beat for animation Oscar | Entertainment |
Ex-NKorean spy to meet family of Japanese abductee
Hollywood actors, producers unions to meet next week
NY Met manager says economy casts pall over opera | Entertainment |
Frenchman arrested for locking out naked girlfriend: report
Grammys, "Idol" music to networks' ears
Old Hollywood dominates at Oscar fashion preview
Many local TV stations to go ahead with DTV switch | Entertainment |
Grammys, Idol music to networks' ears | Entertainment |
WRAPUP 1-S.Korea loses most jobs in 5 yrs, rate cut seen
Seoul shares fall on banks;automakers lend support
Report: Japan banks nearing Nikko Cordial decision
Golden oldie Spaniel 'Stump' wins dog show
Pakistan receives no bids for 8-day repo
Obesity in US military doubled since 2003
Taiwan sells 20-yr bonds at 2.21 pct yield -c.bank
NY Philharmonic to visit Vietnam on Asia tour
China Jan exports fall sharpest in over a decade: govt
Flight 1549 crew gets laughs on 'Letterman'
China's January exports plunge 17.5 percent
Hollywood actors, producers unions to meet next week
Report: Morgan, Mitsubishi UFJ to merge brokerages
Press corps in DC more specialized, international
Japan's Elpida says no accord yet in Taiwan alliance talks
US-ENTERTAINMENT Summary
Former Taiwan electronics executive indicted in US
Grammys, "Idol" music to networks' ears
'La Cage' impersonators revue closes in Las Vegas
Music Review: Lily Allen's new album saucy, darker
Taliban kills 26 in deadly assault on Kabul
Markets glum on US crisis action, steel in distress
D.A. Needs Further Investigation Before Formally Charging Chris Brown
Bank says UK economy 'to shrink in 2009'
16 dead, 45 wounded in twin Baghdad bombs: police | International |
Bombs target Shiite pilgrims in Baghdad, killing 9
Prosecutors Want Joe Francis Locked Up
UK economy 'to shrink 4-6% in mid-2009'
Page Not Found |
Inconclusive election puts Israel, peace in limbo
"Sopranos" Actor Vincent Pastore Settles $5.5 Million Assault Lawsuit
Credit Suisse posts biggest full year loss ever
Snoop Dogg Partners With MTV To Release New Album, Talk Show And Have His Music On Video Game
Financial reform to get backseat ride at Rome G7 | International |
Iran dismisses report it faces raw uranium shortage
"Got Milk" Ads Featuring Chris Brown To End This Week
Taliban kill 20 in trio of Afghan capital attacks | International |
U.S. envoy Holbrooke visits northwest Pakistan | International |
20 hurt, attackers killed at Afghan ministry
Jews say pope must condemn anti-Semitism in Church | International |
Iran denies Cypriot-flagged ship carrying arms to Gaza
Nazi hunters want German probe on war criminal Heim | International |
16 dead and 45 wounded in twin Baghdad bombs
Mobile connections surpass 4 billion mark worldwide | Technology |
Twisted metal, cars in trees: tornado kills 15
Nokia to cut production as phone market dives | Technology |
U.S. Congress and White House seek final deal on stimulus
Republicans Seek To Trim Stimulus As Conference Committee Negotiations Begin
Google testing home electricity use software
NYPD Slows Down Ground Zero Staffing
U.S. Sec Of State Clinton Tells Czech Counterpart U.S. Is Willing To Reconsider Deploying Controversial Missile Shield If Iran Changes Behavior
Democrats, Republicans Want More Details On Geithner's New Bailout Plan
Intel To Spend $7 Billion For U.S. Factory Upgrades
One Laptop Per Child Project Cuts XO Price By $24
Al Franken In Capitol Hill To 'Prepare' For Senate Duties Despite Election Contest
United Airlines Brings Back Call Center Jobs From India To U.S.
Goldman Sachs, JPMorgan Chase CEOs To Testify Wednesday On Their Use Of Bailout
U.N. Chief Calls On U.S., China, India And Europe To Lead Way On Climate Change
Wounded Sri Lankans describe chaos in north
Bomb kills lawmaker in Pakistan as US envoy visits
Malaysia's industrial output drops 15.6 percent
SKorea, Japan urge NKorea to avoid provocation
Attacks on Afghan government buildings kill 19
China plans largest-ever military parade
Red Cross denies stirring panic in Sri Lanka
Navy diver attacked by shark in Sydney Harbour
'American Idol' Hopefuls shine in solos
Malaysia to cut electricity tariffs: minister
Hollywood still misrepresenting blacks: US film-maker Burnett
Asia's budget airlines eye growth, trade barriers
Situation "very tense" in Tibet: Dalai Lama
Chen remembers heroism of Peking Opera star Mei | Entertainment |
Hong Kong stock index falls 2.5 percent
Chinese exports, imports plunge, fanning worries
Report: Morgan, Mitsubishi UFJ to merge brokerages
Pakistan's 6-mth T-bill cut off yield at 13.8731
Gunn, Roberts to host Oscars red-carpet arrivals
Chinese exports, imports plunge in January
Sting thrills Romania with Elizabethan music
Taiwan dlr hits 4-1/2-yr closing low, exporters buy
Gwyneth Paltrow, Courteney Cox party with Beyonce
China to build Mecca monorail
British rock band Oasis to play first China dates
Budget carriers caution against protectionism
ABC's Diane Sawyer reports on Appalachian poverty
Woo epic, kung fu biopic lead HK nominations
School board offers apology to singer Pete Seeger
Indonesia court clears Tommy Suharto of graft
'American Idol' Hopefuls shine in solos
Chen remembers heroism of Peking Opera star Mei
Hollywood still misrepresenting blacks: US film-maker Burnett
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01