Breakingviews: Credit Suisse stuck in hit-and-miss phase
Thursday, February 06, 2014 - 03:52
Feb. 6 - The Swiss bank missed profit forecasts as it continues restructuring. Breakingviews says until that’s fixed, Q4’s wobbly performance could be repeated.
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So Credit Suisse misses its profit full cost of the hefty legal charges is stuck and it hadn't missed -- George K. Is what is breaking news columnist and joins me now I am covered a lot of pranks George -- doesn't sound like you convinced yet -- credits and. I'm well I mean that you look at that. Then results today that no taking amazing that you look that says that conflicts of every investment bank in the fourth quarter. Does have been that struggle yet apparently you've yet to -- -- you guys are pretty good that UBS seemed vindicated for the yes the restructuring its its married. Critics -- -- made some operational restructuring I don't I find my -- you know. Totally convinced by the bullet that the different scenes UBS and Credit Suisse with the BT's. Keep things I picked up on. One thing EDS has taken a different approach to restructuring its lowest fixed income business since he's been that -- -- -- this week money Spinner for investment banks. UBS has been great commercial operation cutting back Credit Suisse. Progress for a number of reasons has decided to be a little bit less so when they. Maybe that had peaked at the last couple years in -- money in emerging market Penn State business but -- because the impact que me. Which is now unwinding so that's a bid to challenge them. The other issue with Credit Suisse is on what you yes. They haven't settled this whole. Tax case with the UN accident where basically adults respects help. It effectively helped American citizens and with -- tax bill if he if you I don't know if I hadn't. -- yes it would set that long -- it back in 2000 knowing that silicone questionable. Credits and a state understatement prison today. And gently then it's again I mean we can say it's from from any of the big things generally that litigation. Headaches continue specifically movies it's against expert for for Padilla let's again that fast enough prizes. Does Coleman's lead investments they little getting hit by -- India's case happened -- -- -- -- the and -- -- this. Financial crisis. And everyone's kind of having to put money aside fascinating to -- him. Yeah Brady didn't. -- -- Yes these pledged to meet this hour we target of 15%. That's up from two and a half right now ominous in means sort of somehow be at senator often yeah okay at least got -- Vista is still -- He's not gonna say things like it's a link to view it is pretty an eight yesterday. What they will tell you is that the Gulf Coast states in the making and the -- -- Will on the Wall Street. Some. If it -- went to about this year. That -- Again it's what about operating dean's position how in the Arizona. What he's been he's been up for very long time mountain buffs out. I'm a -- but that's tomorrow and every Saturday at epic but let's face it they they'd be pretty produce compared to target young state. Over the predicament protect your spirit strike yet -- At various points since it crosses the -- and Credit Suisse. Right pretty -- win and them. At a million and guys will premiere bit more because it. How Credit Suisse and it may well if that's -- people. And you. A space. He's old as you depend on Willie -- targets yet so I get to expect that to take. From Georgia to setting inside what's on US bring you show every day 1230 east in seventeen -- GMC. -- axle problem sources.
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