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Tuesday, November 19, 2024

Credit Suisse warns of $1.6 billion loss as rich clients leave

Credit Suisse expects a pretax loss of up to 1.5 billion Swiss francs ($1.58 billion) in its fourth quarter as it keeps bleeding cash, the Swiss bank said on Wednesday, shortly before shareholders approved a $4 billion capital hike. The bank said a “challenging” economic and market environment had …

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