Business
Credit Suisse unveils major overhaul after a staggering $4 billion loss
Credit Suisse
Switzerland’s second-largest lender after UBS, said it would cut jobs and sever its investment banking business as it reported a profit of 4 billion francs ($4 billion). loss for the third quarter.
The company also intends to raise $4 billion by selling shares as part of what Chairman Axel Lehmann calls a “blueprint for success.”