Credit Suisse to slide into red as it sets aside $850 mn for US litigation


Credit Suisse said it will sink to a fourth-quarter loss after setting aside hundreds of millions of dollars more than previously expected on Friday for a legal dispute over property debt in the United States.

Chief Executive Thomas Gottstein, who took the helm at Switzerland's second-biggest bank last February, said in December he wanted to start the new year with a "clean slate" on legacy matters and has set aside some $850 million to address disputes dating back to the financial crisis. The bank had already set aside.....

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