Credit Suisse on Thursday became the latest major bank to report a strong second quarter showing as its net profit rose by 29 percent to 1.57 billion Swiss Francs ($1.41 billion.) In a statement the Swiss banking giant attributed its performance to a "reduced-risk business model providing the basis for more sustainable, high-quality, lower volatility earning." Its Investment banking arm, which incurred much of the blame for the bank's record losses last year, weighed in with pre-tax profits of 1.66 ...

General Motors' European division announced Friday that its German subsidiary, Opel cars, will become an independent unit of the company. Under the restructuring plan, announced by GM Europe on Friday, the company will ask for a more than $4 billion bailout from Germany and the governments of other European countries that have Opel plants, GM Europe CEO Carl-Peter Forster said at a news conference. "We are in need of capital that we hope to get with the help of the ...

India Friday vowed to oppose any protectionism moves by the United States as part of Washington's efforts to deal with the economic crisis. Attorney General Andrew Cuomo has been highly critical of Wall Street firms in general and Merrill Lynch in particular for the way they have conducted themselves in the midst of a financial crisis. Last week, he accused Merrill Lynch, which was acquired by Bank of America late last year, of secretly doling out big bonuses before reporting ...

A U.S. Border Patrol helicopter went down Thursday night near the San Onofre Nuclear Generating Station, according to the Federal Aviation Administration. Attorney General Andrew Cuomo has been highly critical of Wall Street firms in general and Merrill Lynch in particular for the way they have conducted themselves in the midst of a financial crisis. Last week, he accused Merrill Lynch, which was acquired by Bank of America late last year, of secretly doling out big bonuses before reporting a ...