Swiss bank Credit Suisse ( CS) reported a 33% rise in second-quarter profit on strength in its wealth management and investment banking divisions. Credit Suisse reported net income of 1.045 billion Swiss francs ($1.11 billion) for the quarter, up from 788 million francs in the same period last year. The bank said its wealth management arm had 7.6 billion francs in net new assets and strong inflows in emerging markets. Cost-cutting helped the company boost results as well. Credit Suisse said it cut staff by nearly 4% from a year ago and that it was on track to reduce costs by 4.4 billion francs by the end of 2015.
Google ( GOOG) introduced a competitor to the Apple ( AAPL) TV -- a device called Chromecast that will allow users to stream media from smartphones, tablets and computers. By plugging the dongle device into a television's HDMI port, users can use their wireless home Internet to link to mobile devices. The media is then streamed from the cloud, which Google said allows for higher-quality streaming and less drainage on the mobile device's battery. Google said Chromecast will be able to stream across various operating systems, including Apple iOS and Android.
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