Updated Thursday, October 30, 2014 as of 12:53 PM ET
Credit Suisse Wealth Management Profit Slumps
Despite a decrease in profit in its wealth management division, Credit Suisse Group, Switzerland’s second-biggest bank, reported third-quarter profit that beat analysts' estimates as revenue from trading fixed- income products soared.
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Treasuries are the world’s worst- performing bonds this quarter amid concern investors are underestimating risk the Federal Reserve will raise borrowing costs next year. more »
Credit Suisse Group added private banking to its operations in Toronto as the lender seeks to win business from Canada’s wealthiest individuals. more »
When it comes to predicting where U.S. borrowing costs are headed, the bond market isn't taking Wall Street’s advice seriously. more »
Royal Bank of Canada, the first Canadian lender to report third-quarter results, said profit rose 4% to a record, led by investment banking, and boosted its dividend by almost 6%. more »
Emerging-market stocks headed for the biggest weekly jump since March on speculation China will take steps to support the economy and as Russia pledged to de- escalate the conflict in Ukraine. Malaysia’s ringgit rose. more »
The 1% is literally rich beyond measure, depriving nations of billions in tax revenue and obscuring shifts in global inequality. more »
UBS is facing more than $600 million in damage claims filed by Puerto Rico investors in closed-end bond funds, the bank said in its second quarter earnings report Tuesday. more »
Julius Baer Group, Switzerland’s third-largest wealth manager, said its affluent Russian clients were less active in the first half of the year amid political tensions in the region. more »
Treasuries fell for the first time in three days, with benchmark 10-year yields rising from a seven-week low, as haven demand ebbed a day after a Malaysian airliner was shot down over Ukraine. more »
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