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 memorabilia up for grabs in online shops after merger
ZURICH (Reuters) – Within hours of its state-backed takeover by UBS Group being announced, memorabilia bearing lender Credit Suisse’s name and logo was being put up for sale in Switzerland, marking the…
BlackRock Investment Institute downgrades credit, favors short-term bonds for income
(Reuters) – BlackRock Investment Institute said on Monday it was downgrading credit and preferred short-term bonds for income, with strategists pointing to financial cracks from rapid interest rate hikes. “We stay risk-off:…
UBS mulls sweeteners to keep Credit Suisse wealth bankers – source
By Stefania Spezzati LONDON (Reuters) – UBS Group AG told Credit Suisse wealth bankers it’s weighing financial sweeteners for them to stay as it seeks to reassure key staff following the takeover,…
Sight deposits rise, indicating Credit Suisse took central bank liquidity
ZURICH (Reuters) – Credit Suisse took a hefty chunk of liquidity from the Swiss National Bank last week, sight deposit data published by the central bank indicated on Monday. Total deposits held…
French insurer AXA has about $640 million exposure to Credit Suisse
PARIS (Reuters) – French insurer AXA had a “limited exposure” of about 0.6 billion euros ($639.5 million) to Swiss bank Credit Suisse, it said on Monday. “AXA has no exposure to Credit…
Derivatives that track bonds at the heart of Credit Suisse rescue slide
LONDON (Reuters) – Derivatives that track the value of key bank debt fell sharply on Monday, after UBS agreed to rescue rival Credit Suisse, forcing a massive writedown of the latter’s additional…
Asia policymakers move to calm nerves after Credit Suisse takeover
By Scott Murdoch SYDNEY (Reuters) – Asian policymakers on Monday moved to calm investor nerves after announcements of a historic Swiss-backed takeover of troubled Credit Suisse and a coordinated move by major…
Singapore central bank says no interruption to Credit Suisse operations
(Reuters) – Singapore’s central bank said Credit Suisse Group would continue operating in the city-state without any curbs, adding that it expected no impact of the Swiss bank’s takeover by UBS Group…
UBS’s Credit Suisse deal was the best solution says Swiss gov’t
(Reuters) – Swiss Finance Minister Karin Keller-Sutter was determined to present the deal for UBS to buy Credit Suisse as no bailout but the best possible solution to a difficult situation. Keller-Sutter,…
Bank of England welcomes Credit Suisse deal, says UK banks are safe
LONDON (Reuters) – The Bank of England welcomed moves by the Swiss authorities to broker a take-over by UBS of Credit Suisse on Sunday, indicating it would support approval of the deal,…
UBS chairman wants to keep Credit Suisse’s Swiss unit
ZURICH (Reuters) – UBS Chairman Colm Kelleher said the bank wants to keep Credit Suisse’s Swiss unit, speaking at a news conference announcing the merger between Switzerland’s two biggest banks on Sunday.…
UBS offers to buy Credit Suisse for up to $1 billion – FT
(Reuters) – UBS Group AG has offered to buy Credit Suisse for up to $1 billion, with the Swiss government planning to change the country’s laws to bypass a shareholder vote on…
U.S. authorities weighing in on possible Credit Suisse-UBS deal: Bloomberg News
(Reuters) – U.S. authorities are working with Swiss counterparts to broker a deal for UBS AG to buy all or part of Credit Suisse Group AG, Bloomberg News reported on Saturday citing…
UBS, regulators race to seal Credit Suisse deal as soon as Saturday – FT
(Reuters) – The Swiss National Bank and Swiss regulator FINMA have told their international counterparts they regard a deal with UBS Group as the only way to prevent a collapse in confidence…
UBS seeks Swiss backstop in any Credit Suisse deal – Bloomberg News
(Reuters) – UBS Group AG is asking the Swiss government for a backstop if it were to buy Credit Suisse Group AG, Bloomberg News reported on Saturday. UBS is discussing scenarios in…
Goldman Sachs cuts outlook for European bank debt over Credit Suisse crisis
LONDON (Reuters) – Goldman Sachs has cut its recommendation on exposure to European bank debt to neutral from overweight, saying a lack of clarity on Credit Suisse’s future path would put pressure…
BlackRock says not participating in any plans to acquire Credit Suisse
LONDON (Reuters) – BlackRock said on Saturday it had no plans or interest to acquire embattled Swiss lender Credit Suisse, a spokesperson for the U.S. asset manager said. “BlackRock is not participating…
‘Propaganda’: CUNY College To Give Students Credit For Attending Anti-Israel Film Event
‘Propaganda’: CUNY College To Give Students Credit For Attending Anti-Israel Film Event Kate Anderson on March 17, 2023 Borough of Manhattan Community College will give students a credit for attending a screening…
Moody’s downgrades credit ratings on First Republic Bank
(Reuters) – Ratings agency Moody’s on Friday downgraded the credit of First Republic Bank, citing deterioration in the bank’s financial profile and challenges faced by the lender due to increased reliance on…
UBS in talks to acquire Credit Suisse -FT
(Reuters) -Banking giant UBS is in discussions to take over all or parts of Credit Suisse, with the boards of Switzerland’s two biggest lenders set to meet separately over the weekend, the…
Deerpath raises over $2.8 billion for sixth credit fund
By Matt Tracy WASHINGTON (Reuters) – U.S. private equity firm Deerpath Capital Management raised more than $2.8 billion for its sixth private credit fund that will finance companies with enterprise values between…
Swiss lawmakers tell Credit Suisse to clean up its act, seek to ringfence crisis
By Alexandra Hudson and Tom Sims ZURICH (Reuters) – Swiss lawmakers on Friday vowed to bring those responsible for Credit Suisse’s problems to account and urged it to clean up its act…
Credit Suisse sees central bank cash as buying time for overhaul- executive tells SRF
ZURICH (Reuters) – Credit Suisse sees its access to 50 billion Swiss francs ($53.98 billion) of central bank funding as “precautionary liquidity” to allow the embattled lender to continue its revamp, the…
S&P Global Ratings: no direct threat to Latam financial system from SVB, Credit Suisse
LONDON (Reuters) – The collapse of Silicon Valley Bank last week and the turmoil around Credit Suisse do not pose a direct threat to Latin America’s financial system, S&P Global Ratings said…
Credit Suisse CEO said bank’s liquidity basis is “very very strong”
(Corrects the source of the interview in first paragraph) ZURICH (Reuters) – Credit Suisse Chief Executive Ulrich Koerner spoke of the strength of the Swiss lender’s liquidity basis in an interview with…
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