ING net profit decreases 5.6%; firm won't seek ABN

Article Abstract:

First-quarter net profit for Dutch financial services firm ING Groep N.V. fell 5.6% to reach 1.89 bil euros, with revenue falling 3.5% to hit 19.2 bil. ING will forego an offer for rival ABN Amro Holding N.V. to focus on three of its fastest growing divisions: Asian insurance, Internet and telephone banking, and the American retirement market.

Strategy & planning, Sales, profits & dividends, Planning, Netherlands, Company sales and earnings, Company earnings/profit, ING Groep N.V., Company business planning, Financial report

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Credit Suisse Will Eliminate 150 Jobs

Article Abstract:

Credit Suisse Group will cut 150 positions, most of them in its London and New York mortgage-backed securities units, due to a significant drop in activity resulting from pressures from the subprime credit crisis. Although the firm does not write mortgages, Credit Suisse packages them into securities.

United Kingdom, United States, Personnel administration, Economic aspects, Switzerland, International aspects, Influence, Credit Suisse Group, Downsizing, CSGN, Subprime loans

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