Credit Suisse 3Q Net Income Misses Estimates

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Oct. 24 (Bloomberg) –- Bloomberg’s Hans Nichols reports on Credit Suisse earnings, posting a 79% increase in 3Q profit. He speaks to Mark Barton on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

First on bloomberg, do not miss that.

Also, the chief of gasol systems -- sassault systems.

Weighing in with his economic outlook next hour.

Earnings from the second-biggest bank credit suisse, international correspondent hans nichols joins us now live from zero to break down those numbers.

Ponds, what are we seeing?

Good morning.

-- hans, what are we seeing?

Resolve the miss.

79% increase in third-quarter profit because they did not take the same accounting charge they took one year earlier.

Overall, missing analyst estimates.

When we sit down with dougan, we will press him on what he's going to do with the rates business.

They are talking about creating a new unit and some other fixed income assets to wind down some of those businesses.

We will really try to press them on the plan.

Where is credit suisse on its cost-cutting measures.

4.5 billion swiss francs is the goal by 2015. where else are they going to cut?

Will there be more job losses?

There are still financial and regulatory issues that they need to resolve with u.s. authorities.

We will get an update on that and press on where they are in terms of a potential settlement.

We will see you later, hans

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