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Credit Suisse Turmoil Deepens With Record Stock, CDS Levels

  • CEO Koerner had touted ‘strong capital’ after decline in stock
  • Swiss firm’s latest strategic plan is expected this month
Bloomberg business news
Credit Suisse’s new chief has asked investors for less than 100 days to deliver a new turnaround strategy. Su Keenan reports.Source: Bloomberg
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Credit Suisse Group AG’s gauge of credit risk rose to a record high while its stock hit a fresh low, adding to the turmoil after the bank’s attempts to reassure markets on its financial stability backfired.