Credit Suisse Group AG reported a net loss of 5.8 billion Swiss franc ($5.8 billion) in the fourth quarter after writing down the value of its investment bank and setting aside provisions for litigation. While the company’s global markets and investment banking divisions will probably struggle this year, Chief Executive Officer Tidjane Thiam said he is “very confident” about reaching a target of cutting costs by 3.5 billion francs by 2018.

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Credit Suisse CEO: Investment Bank Is Core to Strategy
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