| When is an investment bank committed to a business? Until it’s not! That oft-quoted adage could be heard in the City of London on Tuesday morning after Credit Suisse joined the ranks of investment banks exiting commodities trading. The bank announced that it was winding down its derivative-focused commodities unit to focus on more profitable businesses such as structured products and credit.
Like its peers, Credit Suisse blamed tighter regulation and lower profitability due to stable prices for oil and other commodities for the decision, revealed after the bank announced its biggest quarterly loss since the collapse of Lehman Brothers...............................................Full Article: Source
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