Credit Suisse boss Tidjane Thiam staunchly defended his record as CEO of Switzerland’s second-largest bank Thursday, despite calls from an activist investor for the lender to break up. In recent weeks, a relatively small but top-performing activist hedge fund announced an ambitious plan to break up Credit Suisse. RBR Capital Advisors, led by outspoken trader […]

President Donald Trump will be characteristically pleased with himself when he hears that one of his favorite phrases, “fake news”, has been named “word of the year” by dictionary publisher Collins. Announcing the winner, U.K.-based Collins Dictionary said the term “fake news” saw an “unprecedented” rise with usage of the term increasing 365 percent since […]

Swiss Re, the world’s second-largest reinsurer, on Thursday posted a $468 million nine-month net loss after disasters such as Hurricanes Harvey, Irma and Maria and Australia’s Cyclone Debbie socked the reinsurer with an expected $4 billion in natural catastrophe claims. Despite the earnings blow, it said it would proceed with a proposed share buyback of […]

Immigration remains a daunting policy concern as the United Kingdom tries to envision a future outside of the European Union. But hopes that Britain and the EU can reach a deal addressing the nation’s migrant population could be in vain, according to a leading academic. For one, “no conceivable Brexit deal will involve expelling” Eastern […]

European stocks are expected to open lower Thursday as investors react to a slew of earnings news and wait for the latest rate decision from the Bank of England (BOE). The FTSE 100 is seen 26 points lower at 7,462; the DAX is expected to be lower by 19 points at 13,446 and the CAC […]

Swiss bank Credit Suisse posted a strong increase in third-quarter net profit on Thursday, beating analyst expectations amid an ongoing restructuring plan. Here are the key third-quarter metrics: Net income: 244 million Swiss francs ($244 million), vs. 224.6 million Swiss francs expected by Thomson Reuters poll. Revenue: 4.97 billion Swiss francs, vs. expected 4.94 billion […]

British defense minister Michael Fallon resigned from his position on Wednesday saying he accepted his conduct in the past had fallen below high standards. Fallon was named in an a newspaper article earlier this week which said he had touched a radio presenter’s knee in 2002. The BBC reported on Monday that Fallon’s spokesman said […]

Britain’s Electoral Commission is investigating whether a leading anti-EU campaigner breached referendum finance rules, after speculation mounted that Russia may have meddled in the Brexit vote. Arron Banks, a major donor to the anti-EU campaign who was pictured with Donald Trump and leading Brexiteer Nigel Farage outside a gilded elevator soon after Trump’s 2016 U.S. […]

More than 58,000 people in France have signed a petition demanding men receive more paternity leave following the birth of a child. The petition, addressed to French President Emmanuel Macron and three of his ministers, has asked that the current 11 days leave awarded to new fathers should be extended to four weeks and made […]

The Bank of England (BOE) is widely expected is raise interest rates from record lows Thursday, but market participants will be closely watching for clues on what the U.K. central bank will do next. This will be one of the BOE’s most significant meetings in some time — not only because of the likely rate […]