Credit Suisse's surprise: big write-down points to valuation failings, and more bank woes
Article Abstract:
Credit Suisse Group announced an unexpected $2.85 bil write-down as a result of its traders placing incorrect values on certain debt securities, and also to the drop in securities' market values. The write-down may lower the firm's first-quarter profit by approximately $1 bil.
Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2008
Sales, profits & dividends, Forecasts, trends, outlooks, Switzerland, Company sales and earnings, Company earnings/profit, Credit Suisse Group, Company business forecast/projection, Company forecasts, CSGN, Financial report
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2008
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Citigroup cutting credit to some U.K. customers
Article Abstract:
Citigroup Inc. has announced a March 2008 cutoff date for approximately 161,000 credit-card users in the UK, roughly 7% of its Egg financial unit. Citigroup acquired Egg in May 2007. The move is aimed at reducing the firm's exposure to high-risk borrowers.
Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2008
United Kingdom, Commercial Banks, Personal credit institutions, Private Households, Services discontinued, Consumer Credit, Consumer Capital & Loan Transactions, United States, Credit and debit card industry, Credit card industry, Citigroup Inc., C, Service discontinuation
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2008
User Contributions:
Comment about this article or add new information about this topic:
Subjects list: Financial services industry, Financial services
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