Credit Suisse posts $5.2 billion loss, sees good start to 2009

Date: Wed, 11 Feb 2009 12:01:42 -0500

Credit Suisse posts $5.2 billion loss, sees good start to 2009

As Credit Suisse swings to a net loss of 6.02 billion Swiss francs ($5.2
billion) in the fourth quarter on further heavy losses at its
investment banking arm, CEO Brady Dougan points out that the Swiss
banking giant's off to strong start in 2009.

ARCELORMITTAL SWINGS TO SURPRISE $2.6 BILLION LOSS

ArcelorMittal on Wednesday posted an unexpected $2.6 billion loss in
the fourth quarter as the world's largest steelmaker spoke of a
"collapse" in demand and a sharp drop in prices.

BANK OF ENGLAND READY TO BOOST MONEY SUPPLY IN RECESSION FIGHT

The Bank of England is prepared to further ease monetary policy and
could buy British government bonds in an effort to boost the money
supply as it battles a "deep recession," the central bank's governor,
Mervyn King, said Wednesday.

FRANCE BACKS PLAN AS PEUGEOT LOSES $1.4 BILLION

France on Wednesday defended its heavily criticized support for the
auto industry as its second-largest automaker, PSA Peugeot Citroen,
recorded a second-half loss of 1.08 billion euros ($1.4 billion).