UBS to impose restrictions on Credit Suisse bankers after takeover complete, FT says
(Reuters) – UBS AG is set to impose tight restrictions on Credit Suisse bankers, including a ban on new clients from high-risk countries and on …
Credit
Factbox-UBS, government agree on Credit Suisse loss guarantees – key points
(Reuters) – UBS and the Swiss government agreed on Friday on how they will share losses linked to the bank’s emergency takeover of Credit Suisse, …
Assistance Sought in Identifying Suspects Linked to Stolen Credit Cards
NORFOLK, VA – The Norfolk Crime Line is currently seeking public assistance to identify two individuals involved in a larceny investigation. The incident took place …
Attempted Robbery Reported at Navy Federal Credit Union in Annapolis
ANNAPOLIS, MD – On Friday, at around 1:45 p.m., an attempted robbery was reported at the Navy Federal Credit Union located at 825 Bestgate Road, …
Fitch keeps its negative slant on UK credit rating
LONDON (Reuters) – Ratings agency Fitch on Friday stuck with its negative outlook for Britain’s sovereign credit rating, citing a weak economy and lingering uncertainty …
LatAm property tech unicorn Tuhabi lands $50 million credit line from development bank
By Kylie Madry MEXICO CITY (Reuters) – Latin American property technology startup Tuhabi is set to receive a $50 million credit line from the Inter-American …
Credit Suisse bankers leaving by the hundreds every week – sources
By Noele Illien and Stefania Spezzati ZURICH (Reuters) – Hundreds of Credit Suisse’s employees are resigning each week in a sign of uncertainty gripping the …
Suspects who beat and robbed 69-year-old man caught on video using his credit cards
NEW YORK, NY – A pair of suspects who beat and robbed a 69-year-old man in Rego Park were later caught on video surveillance cameras …
U.S. credit default swaps fall as debt ceiling talks progress
(Reuters) – The cost of insuring exposure to U.S. government debt dropped on Friday as U.S. President Joe Biden and top congressional Republican Kevin McCarthy …
Moody’s: Emerging market credit to be tight amid U.S.-led risks
LONDON (Reuters) – Emerging economies will continue to suffer from the spillover of economic problems in the U.S., which are restricting their market access and …
Switzerland speeds up work on liquidity backstop after Credit Suisse crash
BERN (Reuters) – The Swiss government on Thursday moved to speed up work on extending a public liquidity backstop Credit Suisse received access to in …
Credit Suisse managers’ 2022 bonuses cancelled or cut by Swiss government
ZURICH (Reuters) – Credit Suisse senior managers will have their outstanding bonus payments for 2022 either cancelled or reduced following an order issued on Tuesday …
Citizens Bank to pay $9 million penalty over credit card practices -US regulator
By Jonathan Stempel (Reuters) -Citizens Bank, one of the largest U.S. regional banks, will pay a $9 million civil penalty to resolve charges it mismanaged …
Frederick police asking public to help identify credit card thief
FREDERICK, MD – The Frederick Police Department is appealing to the public for help in identifying two men. They were recently caught on surveillance footage …
Exclusive – Vietnam’s No Va Land in talks with Credit Suisse, others to restructure debt – source
By Phuong Nguyen and Francesco Guarascio HANOI (Reuters) – Vietnamese property giant No Va Land Investment Group Corp is in talks with creditors to restructure …
South Korea household credit shrinks at record pace in first quarter
SEOUL (Reuters) – South Korea’s household credit shrank at a record pace in the first quarter as high interest rates suppressed demand, central bank data …
BlackRock moves from ‘overweight’ to ‘neutral’ on credit
(Reuters) – BlackRock Investment Institute on Monday said it was moving from “overweight” to “neutral” on credit, saying yields are not enough to compensate investors …
US bank deposits and credit slip in latest week, Fed data shows
(Reuters) – Deposits at all U.S. commercial banks slipped last week and overall credit provided by banks edged lower as well, Federal Reserve data released …
Fed’s Powell says tighter credit conditions ease rate hike pressure
NEW YORK (Reuters) – Federal Reserve Chairman Jerome Powell said Friday that the aftereffects of recent banking sector troubles takes some pressure off the U.S. …
Turkish banks restrict credit access amid pre-runoff uncertainty
By Nevzat Devranoglu and Ebru Tuncay ANKARA (Reuters) – Turkish banks have restricted access to some individual loans and postponed decisions on extending corporate loans …
Credit Suisse neared its cash limits days before rescue, filing shows
By Kirstin Ridley and Stefania Spezzati LONDON (Reuters) – Credit Suisse came close to falling below minimum levels of cash held at the Swiss central …
Explainer-The latest on tax credit rules in Biden’s climate and drugs bill
By Jarrett Renshaw and Philip Blenkinsop (Reuters) – U.S. President Joe Biden’s Inflation Reduction Act (IRA), cheered by some Democrats and the White House as …
EXCLUSIVE: Tim Scott And Joe Manchin Join Forces On Bill To Help ‘Invisible’ Americans Build Credit Scores
EXCLUSIVE: Tim Scott And Joe Manchin Join Forces On Bill To Help ‘Invisible’ Americans Build Credit Scores Jason Cohen on May 17, 2023 Republican Sen. …
Exclusive-Qatar fund explored claims against Switzerland for Credit Suisse losses
By Stefania Spezzati, Paritosh Bansal and America Hernandez (Reuters) – Qatar’s sovereign wealth fund, Credit Suisse’s second-largest investor, has explored seeking redress for losses incurred …
California’s cannabis firms band together to address credit woes
(Reuters) – A coalition of cannabis firms, representing about 45% sales volume in California, on Tuesday started an effort to address credit issues that have …
NY Fed May survey finds rising number of firms expect credit tougher to get
By Michael S. Derby NEW YORK (Reuters) – Leaders of factory and service sector firms in the New York Fed’s district said access to credit …
CDS committee accepts to hear question on Credit Suisse AT1 bonds
NEW YORK (Reuters) – The Credit Derivatives Determinations Committee (DC) accepted on Friday to look into a question on whether a “governmental intervention credit event” …
UBS CEO: Credit Suisse no longer seeing outflows
LUCERNE, Switzerland (Reuters) -UBS Chief Executive Sergio Ermotti said on Friday that the situation at Credit Suisse has stabilized and he did not think outflows …
Italian bonds face a raft of challenges as credit ratings loom
By Harry Robertson LONDON (Reuters) – Italian bonds face a rockier road in the coming months after a period of unusual calm, starting with credit …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
‘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 …
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 …
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 …
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. …
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 …
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 …
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 …
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 …
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 …