Murphy to sign major tax credit bill boosting NJ manufacturing and clean energy sector
TRENTON, NJ – Governor Phil Murphy is expected to sign Assembly Bill 5687 into law on Wednesday, launching the “Next New Jersey Manufacturing Program,” a sweeping new initiative designed to attract major…
Credit Suisse economist Zoltan Pozsar leaves the bank – WSJ
(Reuters) – Zoltan Pozsar, a widely followed Credit Suisse markets guru, has left the bank, part of an exodus of staff that started in the months before the lender’s shotgun takeover by…
China to enhance credit support to private investment projects
BEIJING (Reuters) – China’s state planner will step up credit support for projects with private investment, the state-run People’s Daily reported on Friday, reinforcing efforts to encourage more private capital investment in…
Factbox-Lawsuits lodged over state-backed Credit Suisse takeover
(Reuters) – Hundreds of lawsuits have been filed over the terms of the emergency deal to save Credit Suisse by selling it to Swiss banking rival UBS, a Swiss court has said.…
U.S. offers $10 million reward for Russian allegedly tied to credit card theft
WASHINGTON (Reuters) -The United States is offering a $10 million reward for information leading to the arrest of a Russian national charged with operating a Web platform key to the trade in…
S&P cuts First Republic’s credit rating, says default a ‘virtual certainty’
(Reuters) – S&P Global on Tuesday slashed First Republic Bank’s credit rating deeper into junk territory after California banking regulators seized the U.S. lender and sold its assets. S&P cut its rating…
Police seeking suspect who used stolen credit card on $1,270 purchase at Apple Store
LANCASTER, PA – The Lancaster City Bureau of Police is seeking information on a female suspect who used a victim’s Apple ID and credit card information to purchase an Apple laptop worth…
Essex County man heading to prison for stealing credit cards through U.S. Post Office
NEWARK, NJ – A man from Essex County has been sentenced to 82 months in prison, along with three years of supervised release and $330,391 in restitution for his involvement in a…
EU antitrust ruling on UBS’ Credit Suisse takeover due by June 7
PARIS (Reuters) – European Union antitrust authorities will decide on UBS’ planned takeover of fellow Swiss bank Credit Suisse by June 7, the European Commission said in a statement. The Commission’s competition…
U.S. five-year credit default swaps hit new 2011 high
LONDON (Reuters) – The cost of insuring exposure to United States sovereign debt rose to its highest since 2011 on Wednesday, driven up by unease that the government could hit its debt…
Police identify wallet thief after making purchase with stolen credit card
ERIE, PA – The Pennsylvania State Police Troop E – Erie Station is investigating a theft that occurred at Great Lakes Institute of Technology in Millcreek Township, Erie County, on Wednesday. A…
UBS retains risk chief to bolster controls for Credit Suisse deal
ZURICH (Reuters) -Switzerland’s UBS said on Monday it will retain Christian Bluhm as chief risk officer for the “foreseeable future” as it bolsters controls during the takeover of Credit Suisse. Chief Executive…
US 5-year credit default swaps rise to highest since 2011
(Reuters) – The cost of insuring exposure to United States sovereign debt rose to the highest level since 2011 on Friday, over market jitters that the government could hit its debt ceiling…
‘Worsen Their Credit’: Obama Official Rips Biden Admin Mortgage Rule
‘Worsen Their Credit’: Obama Official Rips Biden Admin Mortgage Rule Harold Hutchison on April 20, 2023 A former Obama administration official ripped a proposed Biden administration rule Thursday, saying it incentivized people…
Brazil’s government takes measures to boost consumer and capital market credit
BRASILIA (Reuters) – Brazil’s government announced a package of 13 measures on Thursday to ease consumer access to credit and reduce associated costs in the capital and insurance markets, a move the…
Brazil’s credit package paves the way for capital market the size of the banking market -official
BRASILIA (Reuters) – Brazil’s Secretary of Economic Reforms Marcos Barbosa said on Thursday that the credit package announced by the government aims to strengthen the credit market in the long term, paving…
Volkswagen: US-made ID.4 models eligible for full tax credit
BERLIN (Reuters) – Volkswagen’s U.S.-assembled ID.4 models will be eligible for a $7,500 tax credit this year, according to the German carmaker, after new U.S. Treasury requirements on battery sourcing came into…
Fed’s Goolsbee says he is watching for other ‘credit shoes’ to drop
(Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee said on Wednesday that after the failure of two large regional Fed banks last month roiled the financial sector, he is waiting to…
Credit Suisse lodges $440 million London claim against SoftBank
LONDON (Reuters) – Credit Suisse has lodged a $440 million claim against Japan’s SoftBank Group Corp in London as it presses ahead with formal proceedings in a dispute borne from the failure…
Swiss government reiterates financial commitment to Credit Suisse deal
ZURICH (Reuters) -The Swiss government said commitments to the Swiss National Bank and UBS to ease the takeover of Credit Suisse will not be affected by parliament’s rejection of 109 billion Swiss…
Australia’s AMP says Q1 fund outflows lower, credit quality strong
(Reuters) – Australian financial services firm AMP Ltd said on Wednesday net cash outflows for its flagship Australian wealth management business were 30% lower in the March quarter, while the banking unit’s…
Credit Suisse hampered internal probe into Nazi-linked accounts, U.S. senators say
By Chris Prentice NEW YORK (Reuters) – A committee of U.S. lawmakers on Tuesday said troubled Swiss bank Credit Suisse Group hampered a multiyear investigation into the servicing of Nazi clients and…
Just 10 Electric Vehicles Will Qualify For Biden’s Signature Tax Credit
Just 10 Electric Vehicles Will Qualify For Biden’s Signature Tax Credit John Hugh DeMastri on April 17, 2023 Just eight electric vehicles and two plug-in hybrids will qualify for the Biden administration’s…
EJ ANTONI: Biden Takes Credit For Extinguishing An Inflationary Inferno He Started
EJ ANTONI: Biden Takes Credit For Extinguishing An Inflationary Inferno He Started E.J. Antoni on April 12, 2023 Strange to see the White House taking a victory lap on the latest economic data,…
Credit Suisse rescue package rejected by Swiss parliament
ZURICH (Reuters) – Switzerland’s parliament on Wednesday rejected a Credit Suisse rescue package that included 109 billion Swiss francs ($120.87 billion)in financial guarantees in a largely symbolic vote as the government commitment,…
Credit Agricole urges EU to end ‘unfair’ safety net funding
By Huw Jones LONDON (Reuters) – French bank Credit Agricole has called on the European Union to address what it says is an unfair system of funding for the bloc’s banking sector…
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