Credit Suisse Group is planning to move some jobs from London to Ireland as it cuts costs at its investment bank, according to two people with knowledge of the matter.

Credit Suisse Group has reported a fourth-quarter net loss of 637 million Swiss francs (698 million US dollars), far below what analysts expected.

Credit Suisse Group has announced a 3% cut in its staff across the board after reporting weak third-quarter net profits of 683m Swiss francs (€570m).

Credit Suisse today warned it is unlikely to make a profit in the first three months of this year and said staff had been sacked due to rogue trading.

THE subprime crisis is not over yet and could spread to other credit markets, making it important that banks have a strong capital base, a Swiss regulator and prominent member of the Basel Committee said.