U.S. to charge ex-Suisse traders

    U.S. authorities are preparing to charge four former Credit Suisse Group AG employees with criminal and civil fraud related to write-downs on subprime mortgage derivatives at the height of the financial crisis, sources familiar with the matter said.

    Credit Suisse will not be charged in the matter, which is being investigated by federal prosecutors and the U.S. Securities and Exchange Commission, the sources said.

    The four people to be charged were former Credit Suisse traders who were fired, another source said, but it was unclear when and for what reason. The suspected illegal conduct took place roughly four years ago, the source said, adding that the bank had been cooperating with officials.

    Apple hires Dixons chief to drive retail

    APPLE Inc. has hired Dixons chief executive John Browett, who revived the British electronics retailer by emphasizing customer service, to lead the iPad maker’s global retail expansion.

    Apple chief Tim Cook, making his first high-profile hire since taking the helm of the world’s largest technology company, lured the well-regarded industry executive to fill a critical post once held by Ron Johnson, another outsider who left Target Corp. to join Apple in 2000.

    Johnson resigned from Apple last November to join retailer J.C. Penney Co. Inc. as chief executive.