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…
Winners and losers likely as Switzerland absorbs Credit Suisse layoffs
ZURICH (Reuters) – Switzerland’s financial capital is bracing itself for the biggest wave of job losses in over a decade following Credit Suisse’s collapse earlier this year. Since the government engineered a…
UBS lays off Credit Suisse investment bank staff, closes Houston office -source
By Tatiana Bautzer and Shankar Ramakrishnan NEW YORK (Reuters) – UBS Group is laying off employees from Credit Suisse’s investment bank this week in New York, a source familiar with the situation…
Marketmind: Markets shake off surprise US credit downgrade
A look at the day ahead in European and global markets from Brigid Riley Fitch delivered the markets a doozy of a surprise with an unexpected downgrade of the U.S. government’s credit…
Karine Jean-Pierre Says US Credit Rating Downgrade ‘Defies Reality’
Karine Jean-Pierre Says US Credit Rating Downgrade ‘Defies Reality’ Harold Hutchison on August 1, 2023 White House press secretary Karine Jean-Pierre said Tuesday that a credit agency’s decision to downgrade the United…
US’ Credit Rating Downgraded
US’ Credit Rating Downgraded Will Kessler on August 1, 2023 One of the world’s largest credit agencies announced on Tuesday that it was lowering the U.S.’ long-term credit rating from “AAA” to…
Turkey curbs credit card use for foreign travel, in blow to sector
By Ceyda Caglayan ISTANBUL (Reuters) – Turkey’s banking watchdog has stopped allowing credit card payments by instalment for foreign travel, such as flights, travel agency fees and accommodation, in a step seen…
UK mortgage approvals and consumer credit jump unexpectedly in June: BoE
By Andy Bruce and David Milliken LONDON (Reuters) -British lenders approved more mortgages than expected in June and net unsecured lending to consumers shot up by the most in over five years,…
Gloucester County Man Pleads Guilty to Bank and Credit Card Fraud
CAMDEN, N.J. – A man from Gloucester County, New Jersey has accepted responsibility for his involvement in fraudulent schemes. Misty Sarfo-Adu, a 28-year-old resident of Sewell, stood before U.S. District Judge Robert…
European credit hedge funds top investor most-wanted list- Barclays
By Nell Mackenzie LONDON (Reuters) – European credit hedge funds topped a most-wanted list of global hedge fund strategies in the second half of this year, according to a report by Barclays…
Corporate credit quality weaker than markets factor in – Janus Henderson
By Chiara Elisei LONDON (Reuters) – Corporate credit quality is weaker than financial markets currently price in, while defaults are likely to pick up in the second half of the year, a…
China to boost credit support to consumer sector – regulator
BEIJING (Reuters) – China will guide banks to boost credit in the consumer service industry, its financial regulator said on Thursday, as authorities seek to boost a flagging post-pandemic economic recovery. “Residents’…
Key U.S. credit metrics that will inform the Fed’s policy moves
By Safiyah Riddle (Reuters) – Weakening loan growth for U.S. banks and what top lending officers across the industry have to say about the credit outlook will color the debate U.S. Federal…
Morgan Stanley cuts Israel sovereign credit to “dislike stance” after judiciary changes
By Marc Jones LONDON (Reuters) -Morgan Stanley cut Israel sovereign credit to a “dislike stance” on Tuesday after the country’s parliament passed the first in a series of laws sought by Prime…
Fed fines UBS $268.5 million for Credit Suisse missteps with Archegos
WASHINGTON (Reuters) – The U.S. Federal Reserve announced Monday it had fined UBS Group AG $268.5 million for Credit Suisse’s misconduct around its dealings with the defunct investment firm Archegos Capital Management.…
Dover Police Investigate Unauthorized Credit Card Usage
DOVER, DE – The Dover Police Department is seeking assistance from the public in identifying a suspect involved in an unauthorized use of a credit card complaint. The suspect allegedly used the…
Asia’s private credit markets thrive as desperate borrowers find lenders
By Rae Wee SINGAPORE (Reuters) – When global commercial real estate services firm JLL found public debt and loan markets were averse to funding a property project in Arizona, it turned to…
Australian BNPL firm Zip’s credit performance in local market weakens further
(Reuters) – Australia’s Zip Co Ltd said on Thursday it faced a jump in bad debts at home grounds, its biggest market by revenue, during the March-June quarter due to poor domestic…
Credit Suisse ups S&P 500 year-end forecast to 4,700
NEW YORK (Reuters) – Credit Suisse increased its year-end target on the S&P 500 to 4,700 from 4,050, citing a decline in the near-term U.S. recession risk and a stronger earnings outlook…
Analysis-Takeover benefits: UBS investors warm to Credit Suisse deal
By Oliver Hirt ZURICH (Reuters) – UBS’s emergency takeover of Credit Suisse may lead to thousands of job losses, departures of key staff and a risky integration challenge, but for many UBS…
Wallet Thief Wanted for Grand Larceny After Using Stolen Credit Cards
NEW YORK CITY, NY – The New York City Police Department seeks the public’s assistance in identifying a suspect in a grand larceny incident. The crime occurred in the early hours of…
‘Massive Threat’: DeSantis Says Centralized Digital Currencies Open Door To ‘Social Credit System’
‘Massive Threat’: DeSantis Says Centralized Digital Currencies Open Door To ‘Social Credit System’ Harold Hutchison on July 14, 2023 Republican Gov. Ron DeSantis of Florida told Tucker Carlson Friday that certain digital…
A look at the state of US bank credit as earnings season begins
By Safiyah Riddle (Reuters) – Friday kicks off a week or more of earnings reports from U.S. banks covering the April-through-June period, the first full quarter of operations for the nation’s lenders…
US small business lending holding up despite higher cost of credit
By Safiyah Riddle (Reuters) – U.S. small businesses are paying the most for loans in 16 years as borrowing costs have skyrocketed under the Federal Reserve’s aggressive interest rate hikes, but new…
Deposit withdrawals at South Korea credit union have stabilised -ministry
SEOUL (Reuters) – Customer withdrawals from MG Community Credit Cooperatives (MGCCC), a troubled South Korean credit union, have clearly stabilised amid government efforts to ward off a liquidity crunch, the interior ministry…
Banking Giant To Pay Customers Over $100 Million Due To Junk Fees And Credit Card Deception
The Consumer Financial Protection Bureau (CFPB) ordered Bank of America to pay customers over $100 million for unlawfully charging junk fees to customers among other misconduct, according to a CFPB press release…
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