New Credit Suisse CEO Says Start of Job Was `Baptism of Fire'

The new CEO discusses the company's first earnings results, highlighting a baptism of fire due to significant provisions and markdowns. Despite challenges, the company achieved a record net income. The CEO outlines economic assumptions, predicting recessions in the US, Europe, and Switzerland, and discusses the impact of lockdowns. Transaction income remains strong despite market fluctuations.

What significant economic event is referred to as a 'baptism of fire'?

What was the record net income mentioned in the text?

What assumptions are made regarding GDP reduction in the second quarter?

What factors are considered in the economic assumptions regarding lockdowns?

How does the speaker describe the transaction income for April?