Shares of Credit Suisse Group AG were losing around 9 percent in the morning trading in Switzerland as well as in pre-market activity on the NYSE after the banking major said it sees substantial loss before taxes in fiscal 2023 after reporting narrower loss in its fourth quarter with lower expenses, despite weak revenues.
Separately, Credit Suisse announced the acquisition of Klein Group LLC, the investment banking business of M. Klein & Co. LLC, for $175 million. Following the deal closure, anticipated in the first half, the business will be fully integrated into CS First Boston.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.