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Friday, April 19, 2024

Credit Suisse Warns of $1.6 Billion Loss After Clients Pull Money

Credit Suisse Group AG warned it would lose around $1.6 billion in the fourth quarter after customers pulled their investments and deposits over concerns about the bank’s financial health. The warning of a big pretax loss pushed Credit Suisse’s shares to a new closing low, below a previous nadir hit …

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