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…
Harris Associates backs Credit Suisse handling of governance
ZURICH (Reuters) – Credit Suisse shareholder Harris Associates backed the Swiss bank’s handling of any potential conflicts of interest for Michael Klein, then board member, and director Blythe Masters when it implemented…
Two Defendants Charged For Nationwide Online Marketing Scheme That Fraudulently Enrolled Customers In Credit Monitoring Monthly Subscription
Damian Williams, the United States Attorney for the Southern District of New York, and Michael J. Driscoll, Assistant Director in Charge of the New York Office of the Federal Bureau of Investigation…
Biden’s Former Climate Czar Says John Kerry Could Circumvent Congress To Execute Carbon Credit Plan
Biden’s Former Climate Czar Says John Kerry Could Circumvent Congress To Execute Carbon Credit Plan Jack McEvoy on November 8, 2022 Former White House National Climate Advisor Gina McCarthy said Tuesday that…
Credit Suisse to use repurchased shares for employee plans
ZURICH (Reuters) – Credit Suisse’s board of directors has decided not to cancel more than 25 million shares it repurchased under a buyback programme halted last year, and will instead use them…
S&P downgrades Credit Suisse Group, Moody’s cuts some ratings
ZURICH (Reuters) – S&P Global Ratings has downgraded Credit Suisse Group’s long-term issuer credit rating by one notch to BBB- and cut its view on main operating unit Credit Suisse AG and…
Former Home Depot Employee Pleads Guilty In Credit Card Fraud Scheme
Jacksonville, Florida – United States Attorney Roger B. Handberg announces that Kimyada Latoya Knight (41, Jacksonville) has pleaded guilty to credit card fraud. Knight faces a maximum penalty of 15 years in…
Credit Suisse confirms shareholder meeting for capital hike
ZURICH (Reuters) – Credit Suisse Group AG on Tuesday confirmed an extraordinary general meeting will take place on November 23 for shareholders to approve a proposed capital increase. The embattled bank is…
Credit Suisse plans to push ahead with China expansion after overhaul
By Selena Li HONG KONG (Reuters) – Credit Suisse is forging ahead with expansion in China, with the country and Hong Kong set to see strongest pace of headcount growth in Asia,…
Credit Suisse overhaul welcomed by Swiss National Bank – paper
ZURICH (Reuters) – The Swiss National Bank endorses the measures Credit Suisse has taken to transform the embattled Swiss bank and shore up its capital, SNB Vice Chairman Martin Schlegel said. “The…
Factbox-Who’s in and out in Credit Suisse’s day of reckoning
By Pamela Barbaglia (Reuters) – Credit Suisse’s latest shake-up has led to the promotion of some senior executives to more powerful roles while others are leaving. The bank is significantly reducing its…
Harris Associates welcomes Credit Suisse’s approach to improving performance
NEW YORK (Reuters) – Harris Associates, a shareholder of Credit Suisse Group, said on Thursday it welcomed the “aggressive” approach the Swiss bank was taking to improve its performance. “We welcome the…
Credit Suisse mulls IPO for CS First Boston – source
ZURICH (Reuters) – Credit Suisse is exploring the possibility of an initial public offering for its CS First Boston spinoff, a source familiar with the matter told Reuters on Thursday. The Swiss…
The evolution of Credit Suisse over 166 years
ZURICH (Reuters) – Credit Suisse announced on Thursday a strategic revamp aiming to turn the corner on years of scandals, losses and executive upheaval at a financial insitution with deep roots in…
Credit Suisse posts Q3 loss of 4 billion Swiss francs
ZURICH (Reuters) – Credit Suisse Group lost 4 billion Swiss francs ($4.06 billion) in the third quarter, badly missing the average estimate of 413 million francs in a consensus compiled by the…
Credit Suisse’s possible First Boston revival may face hurdles
By Megan Davies NEW YORK (Reuters) – Credit Suisse may want to revive the First Boston brand for its investment bank – but doing so could be complicated and possibly costly. The…
Fitch downgrades Argentina’s sovereign credit rating to ‘CCC-‘
By Adam Jourdan BUENOS AIRES (Reuters) – Ratings agency Fitch on Wednesday downgraded Argentina’s long-term sovereign credit rating by a notch to ‘CCC-‘ from ‘CCC’, citing deep macroeconomic imbalances and rising risks…
Credit Suisse under investor scrutiny ahead of business overhaul
By Vincent Flasseur and Davide Barbuscia (Reuters) – Credit Suisse Group AG is set to announce a major strategic overhaul on Thursday after a string of losses and risk management failures have…
Euro zone credit growth rises again, despite gloomy outlook
FRANKFURT (Reuters) – Bank lending to euro zone companies accelerated further in September, extending the sector’s biggest borrowing binge in over a decade, despite rising interest rates and a looming recession, European…
Former Credit Union employee who repeatedly stole from elderly woman’s account sentenced to a year in prison
Seattle – A former financial services representative at Alaska USA Federal Credit Union was sentenced today in U.S. District Court in Seattle to one year and a day in prison for bank…
Euro zone banks see falling loan demand, tighter access to credit in Q4
FRANKFURT (Reuters) – Euro zone banks expect to tighten access to credit further in the fourth quarter and see a drop in loan demand as economic growth slows and interest rates rise,…
French court approves Credit Suisse 238 million euro settlement agreement in tax case
PARIS (Reuters) – A French court approved an agreement between Credit Suisse Group and the French financial prosecution office to settle a tax fraud and money laundering case in the country with…
Credit Suisse chief compliance officer set to leave – Bloomberg News
(Reuters) – Credit Suisse Group AG’s Chief Compliance Officer Rafael Lopez is set to leave the Swiss bank in the coming weeks after spending little more than a year in the post,…
Credit Suisse sells stake in EIP venture to management
ZURICH (Reuters) – Credit Suisse has sold its 30% stake in Energy Infrastructure Partners to EIP’s managing partners, EIP said on Friday without giving any financial details. Energy Infrastructure Partners is a…
Fitch cuts Pakistan’s sovereign credit rating to ‘CCC+’ from ‘B-‘
(Reuters) -Global ratings agency Fitch cut Pakistan’s sovereign credit rating on Friday by a notch to ‘CCC+’ from ‘B-‘, citing further deterioration in the country’s external liquidity and funding conditions and a…
Speculators bet Credit Suisse shares have further to fall
By Nell Mackenzie (Reuters) – Investors have been adding to bets that Credit Suisse’s shares still have further to fall after a social media storm forced a fresh look at the Swiss…
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