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…
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 around Brexit trade terms with the European…
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 Development Bank’s (IDB) financing arm, which it…
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 lender while it is being taken over…
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 using the man’s stolen credit cards. Now,…
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 were closing in on a deal that…
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 pushing up financing costs, a Moody’s report…
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 March under emergency rules to other systemically…
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 by the Swiss Finance Ministry. The order…
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 customers’ credit card disputes and fraud claims,…
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 using a stolen credit card at a…
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 part of its $1 billion foreign debt,…
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 showed on Tuesday. The country’s total household…
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 for tightening credit conditions. In a research…
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 on Friday showed. Deposits in the week…
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. central bank to raise rates. Tighter credit…
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 following new regulations introduced since Sunday’s inconclusive…
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 bank days before its forced takeover by…
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 a milestone in the fight against climate…
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. Tim Scott joined forces with Democratic 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 by the bank’s takeover, two people familiar…
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 plagued the state’s legal cannabis market. Cannabis…
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 has been mostly stable in May over…
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” occurred with respect to Credit Suisse. The…
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 at the embattled bank were continuing. Addressing…
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 ratings decisions over the next two weeks.…
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