Credit Suisse closes US unit

Note: This section contains information in English only.
Source: Marketwatch

Credit Suisse Group announced it plans to close its US unit, Credit Suisse Private Advisors, as part of strategy aimed at increasing profitability of private banking sector. The US unit will be merged with Credit Suisse's private banking unit in US. The shift will allow the company to streamline its operations and increase efficiency, said Alex Biscaro, Credit Suisse spokesman.

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Thu, 24 Nov 2011 11:04:05 GMT

Germany: stable development or further recession?

German GDP growth increased in Q3 meeting the forecasts, according to Federal Statistics Office. Country's output increased by 0.5% in Q3 as compared with Q2. Experts stressed that large investments and consumption ensured stable economic development of the country in Q3. Private consumption increased by 0.8%. However, the economists claim that there is a probability of recession in next quarters.

Thu, 24 Nov 2011 11:09:21 GMT

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