Credit Suisse's incoming chief executive, Thomas Gottstein, plans to put Switzerland's second-biggest bank on a growth offensive following predecessor Tidjane Thiam's cost-cutting exercise, he told Reuters on Friday.
Tidjane Thiam has quit as Credit Suisse chief executive after a spying scandal that has hit the reputation of Switzerland's second-biggest bank and shocked the country's financial community.
When worries over the coronavirus shook U.S. stocks out of a period of quiet trading last week, investors wondered if the outbreak was the “Black Swan” event that would trigger a sharp decline. Less than a week later, talk has turned instead to a market melt-up.
France is looking at ways to lure clearing in euro derivatives away from London to the European Union to lessen the risk of any forced "relocation" backfiring by driving business instead to the U.S., financial industry officials said.
Sweden's digital minister stressed Ericsson's importance for jobs and technology in Europe on Friday after a U.S. official suggested the United States buy stakes in the telecoms gear maker or Finland's Nokia to counter Huawei's dominance in 5G.
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The coronavirus continues to claim lives, yet the impact on global demand and companies is just starting to be felt. Recent days have seen an unremitting flow of dire headlines as supply chains from New Zealand to the United States felt the impact of a paralyzed China.
U.S. job growth accelerated in January, with unseasonably mild temperatures boosting hiring in weather-sensitive sectors, indicating the economy will probably continue to grow moderately despite a deepening slump in business investment.
Sweden's central bank is expected to keep its benchmark interest rate at zero at a policy meeting next week and is not expected to alter its stance for the foreseeable future, a Reuters poll showed on Friday.
The White House's economic adviser on Friday said that President Donald Trump's administration does not expect the coronavirus in China will have a major effect on the U.S. economy.
Tidjane Thiam is unlikely to quietly retire after his abrupt exit as chief executive of Credit Suisse, some of those who have worked with him predict.
White House economic adviser Larry Kudlow said on Friday that a U.S. decision to impose "Section 232" national security tariffs on cars and auto parts imported from the European Union is on pause amid attempts to reach a U.S.-EU trade deal.
Chinese President Xi Jinping told U.S. President Donald Trump that China would still meet its Phase 1 trade deal purchasing targets despite delays linked to the coronavirus, White House adviser Larry Kudlow told Bloomberg Television on Friday.
Wall Street pulled back from record levels on Friday, as investors assessed the U.S. employment report that showed jobs growth accelerated in January but included a downward revision to some previous numbers.
U.S. wholesale inventories were a bit weaker than initially estimated in December amid a broad decline in stocks, including motor vehicles.