Credit Suisse settles US bond suit

Swiss bank Credit Suisse settled a long running legal row yesterday, paying out to aggrieved investors who lost money in 2002 when National Century Financial Enterprises collapsed. Credit Suisse, which was involved in issuing the failed group’s bonds, said the settlement would cut its previously reported fourth-quarter net profit by SFr134m (£93.8m) to SFr263m from SFr397m.