Wednesday's Headlines: Credit Suisse to Cut 600 Job

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Credit Suisse plans to cut 600 positions in its investment banking business, following a quarter of weak trading revenue, according to the Dow Jones newswire.

The Swiss bank has begun a consultation process to help it determine the extent of job cuts in the UK, where 100 jobs are on the block. Speculation about lay-offs at the firm have circulated recently, and 600 would be on the high end of numbers cited by previous reports.

"We continue to be proactive about monitoring the size of our business relative to client opportunities and market conditions. This involves... adjusting capacity to meet client needs and to manage costs across the business," a spokesman for Credit Suisse told Dow Jones.

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