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Credit Suisse ‘posts’ trading losses, lower capital buffer

Bloomberg In his first two years running Credit Suisse Group AG, Tidjane Thiam has been putting out fires. Today there’s still smoke. The Swiss lender is expected to report a third straight annual loss, mainly due to a 2.3 billion-franc ($2.45 billion) writedown related to a change in US tax policy at the end of last year. Even without that ...

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Demographics pose biggest challenge for Asia’s central banks

Bloomberg Bank of Japan Governor Haruhiko Kuroda says it’s the most significant challenge facing his economy. Bank of Korea Governor Lee Ju-yeol says it’ll be tougher to manage than record levels of household debt or future Federal Reserve interest-rate increases. The issue perplexing Asia’s central bankers: demographics. And making matters worse is the realisation there’s very little they can do ...

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Tycoons team up for $6.7 billion upgrade of aging Manila airport

Bloomberg Seven Philippine conglomerates, including those led by billionaires John Gokongwei and Lucio Tan, submitted a proposal to modernise and expand the capital’s 70-year-old airport in a plan that will potentially triple capacity and help ease congestion. Ventures of Aboitiz Equity Ventures Inc., Ayala Corp., LT Group Inc. along with Alliance Global Group Inc., Filinvest Development Corp., JG Summit Holdings ...

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