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News INTERNATIONAL BUSINESS

  • Jul 22, 2014
  • Credit Suisse Set for Biggest Loss Since 2008 on Tax Fine

    Credit Suisse Group AG is poised to report its biggest quarterly loss since the collapse of Lehman Brothers Holdings Inc. after being fined $2.6 billion for helping American clients evade taxes.The bank will tomorrow post a loss of 701 million Swiss francs ($781 million), hurt by a 1.6 billion-franc charge linked to the fine, according to the average estimate of seven analysts surveyed by Bloomberg.

    Source - http://www.bloomberg.com