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Credit Suisse nears sale of first key unit in overhaul plan
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fnlondon.comCredit Suisse is racing to finalise the sale of a key unit, days before the beleaguered Swiss bank is set to give details of a revamp of its big Wall Street division.
The Swiss bank is selling billions of dollars worth of assets to help pay for a strategy change after a series of financial losses and scandals. It may still need additional capital to add comfort for investors that it can carry out plans to retreat from some businesses and countries that are no longer deemed core, analysts say.
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