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…
NY Fed survey finds Americans more downbeat on credit access
By Michael S. Derby NEW YORK (Reuters) – Americans said last month that access to credit was at its toughest level in nearly a decade, as they also braced for higher levels…
Toms River Mayor Hill Upset After Rodrick Blocks $13.9 Million Downtown Expansion Line of Credit
TOMS RIVER. NJ – Toms River Mayor Maurice Hill is angry today. On Tuesday, Toms River Councilmen Daniel Rodrick and Justin Lamb blocked a request by Hill for a $13.9 million line…
Swiss finance minister sees no ‘stumbling blocks’ to UBS takeover of Credit Suisse
ZURICH (Reuters) – UBS’s multi-billion state-sponsored takeover of Credit Suisse should proceed smoothly without political obstructions, Swiss Finance Minister Karin Keller-Sutter said in an interview published on Saturday. The Swiss parliament is…
Police investigating credit card fraud at Speedway convenience store
BETHLEHEM, PA – Yesterday, at around 8:27 pm, two male suspects committed fraud at the Speedway located at 3622 Rte#378. The duo entered the store and purchased seven Netspend Visa cards, loading…
Credit Suisse chairman: “I am truly sorry”
ZURICH (Reuters) – Credit Suisse’s chairman told a room full of shareholders that he was “truly sorry” the Swiss bank was not able to get back on track at its final annual…
New Jersey postal worker pleads guilty to stealing credit cards
NEWARK, NJ – An Essex County man, Parrish Brookins, who was employed as a letter carrier with the US Postal Service, has pleaded guilty today to stealing credit cards and checks from…
Julius Baer CEO eyes gains from Credit Suisse’s fall -media
ZURICH (Reuters) – Julius Baer is having “constructive discussions” with Credit Suisse staff who are looking to leave following their bank’s takeover by UBS, the Swiss private bank’s Chief Executive said in…
Biden Admin Issues Sweeping EV Tax Credit Rules, Leaving Door Open For Foreign Companies
Biden Admin Issues Sweeping EV Tax Credit Rules, Leaving Door Open For Foreign Companies John Hugh DeMastri on March 31, 2023 The U.S. Internal Revenue Service (IRS) announced new guidance on how…
Swiss economists question UBS takeover of Credit Suisse in poll
ZURICH (Reuters) – A poll of Swiss economists found that nearly half think the takeover of Credit Suisse by UBS was not the best solution, warning the saga has dented Switzerland’s reputation…
Analysis-Future for shock-absorbing bank debt uncertain in Credit Suisse aftermath
By Naomi Rovnick, Nell Mackenzie and Chiara Elisei LONDON (Reuters) – As the dust settles on a surprise move by Switzerland to write down $17 billion of bonds under Credit Suisse’s rescue,…
Swiss authorities reveal cost of Credit Suisse’s liquidity lifeline
By Noele Illien ZURICH (Reuters) – Switzerland’s authorities revealed the interest rates Credit Suisse and UBS will pay for the 250 billion Swiss franc ($273.31 billion) emergency lifeline the Swiss banks have…
White House touts Amazon EVs, Google EV tax credit tool
By Jarrett Renshaw (Reuters) – The White House on Thursday highlighted new U.S. company moves to support electric vehicles (EVs), as final rules on tax credits aimed at boosting the industry are…
Credit Suisse withdraws certain proposals to AGM following UBS merger
(Reuters) -Credit Suisse Group AG said on Wednesday it has withdrawn certain proposals to the 2023 annual general meeting following the lender’s recent merger with UBS Group AG. The withdrawn proposals includes…
This New Jersey city has the highest average credit score in America
NEW BRUNSWICK, NJ – If you’re good with your money and finances and you’re looking for a place to settle down with like-minded people, you might want to consider New Brunswick. According…
Japan banks’ holdings of Credit Suisse AT1 bonds small – Finance Minister
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japanese banks’ holdings of Additional Tier-1 (AT1) bonds issued by Credit Suisse are small so the direct hit from them being written down to…
“We did not buy Credit Suisse only to close it” – UBS CEO
ZURICH (Reuters) – UBS’s CEO Ralph Hamers on Monday said the Swiss bank sees its government-orchestrated takeover of Credit Suisse as a growth opportunity, in an internal memo seen by Reuters. “While…
PBOC official: China banks concerned about credit ratings in debt overhauls
By Rachel Savage JOHANNESBURG (Reuters) – Multilateral development banks (MDBs) reluctant to offer debt relief need to shoulder an “equitable burden” in sovereign debt restructurings, a People’s Bank of China official said…
Swiss sight deposits jump, suggesting Credit Suisse, UBS took emergency liquidity
ZURICH (Reuters) – Sight deposits held by the Swiss National Bank (SNB) jumped last week, data showed on Monday, suggesting that both Credit Suisse and UBS may have taken big chunks of…
UBS’s Dargan and Credit Suisse’s McDonagh to lead merger: newspaper
ZURICH (Reuters) – The integration team tasked with merging Switzerland’s two largest banks is to be headed by UBS’s chief technology officer and Credit Suisse’s chief operating officer, the Tages-Anzeiger newspaper reported…
UBS races to seal Credit Suisse deal as soon as late April, sources say
By Elisa Martinuzzi, Saeed Azhar and Stefania Spezzati LONDON (Reuters) – The Swiss authorities and UBS Group AG are racing to close the takeover of Credit Suisse Group AG within as little…
Credit Suisse hires Southeast Asia wealth vice chairman
Sydney (Reuters) – Credit Suisse said on Thursday it has hired private banker Kwong Kin Mun as its new vice chairman for Southeast Asia wealth management. The embattled bank is being bought…
Big investor in Credit Suisse bonds says ‘bail-in’ system worked
By Herbert Lash NEW YORK (Reuters) – One of the largest investors of the Credit Suisse bonds that were wiped out in the UBS takeover of the troubled Swiss bank still believes…
UBS set for talks with Michael Klein to terminate Credit Suisse investment bank deal – FT
(Reuters) – UBS is set to enter talks with Michael Klein to terminate a deal that would have seen the Wall Street dealmaker take control of much of Credit Suisse’s investment bank,…
PIMCO lost $340 million with Credit Suisse AT1 bonds write-off – source
By Davide Barbuscia NEW YORK (Reuters) – Bond giant PIMCO lost about $340 million on a category of Credit Suisse bonds that were wiped out by the takeover by UBS, with the…
Canada’s banking regulator reaffirms creditor hierarchy after Credit Suisse deal angers bondholders
(Reuters) – Canada’s banking regulator said on Monday that those who hold Additional Tier 1 (AT1) and Tier 2 debt will be entitled to a more favorable outcome if a bank runs…
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