FTSE snaps losing streak as oil bounces, banks rise
MILAN British shares rose on Monday, snapping four straight days of losses, as banks joined a broader European rally and a bounce in crude oil prices which buoyed energy firms.
ZURICH Credit Suisse (CSGN.S) is conducting an internal investigation over whether staff breached compliance rules after three of its offices were searched in tax evasion probes, the head of its International Wealth Management division said on Friday.
"The investigation will be executed by compliance, it will not be executed by the business," Iqbal Khan, who is responsible for Credit Suisse's private banking operations outside Switzerland and Asia Pacific, said in a telephone interview with Reuters.
"If any individuals are implicated or have violated against these processes or procedures or policies that are in place then we will identify that very quickly."
LONDON Russian billionaire Mikhail Fridman's L1 Retail has agreed to buy health food and supplements chain Holland & Barrett for 1.77 billion pounds from The Nature's Bounty Co. and The Carlyle Group, the companies said in a statement.
MILAN Intesa Sanpaolo said on Monday its planned acquisition of the good assets of Banca Popolare di Vicenza and Veneto Banca could lead to the closure of around 600 branches and the departure, on a voluntary basis, of around 3,900 staff.