Marketwatch writes that Credit Suisse reported below-forecast second-quarter earnings and said it would cut approximately 4% of its workforce. The Swiss bank's April-June net profit fell to 768 million Swiss francs ($958 million) from 1.6 million francs in the year-earlier quarter, with the lender citing poor trading results and a strong Swiss currency. The profit result missed an median forecast of 1 billion Swiss francs in a Reuters survey.
Read more at http://www.marketwatch.com/story/credit-suisse-q2-profit-falls-by-more-than-half-2011-07-28?link=MW_latest_news
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