Business

Credit Suisse posts third straight annual loss on U.S. tax writedown

ZURICH (Reuters) – Credit Suisse on Wednesday posted a smaller-than-expected annual loss of 983 million Swiss francs ($1.05 billion) after 2.7 billion francs in income tax expenses mostly due to U.S. tax reform kept the bank from its first year in the black since CEO Tidjane Thiam launched a turnaround plan in 2015.