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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...Ng has also overseen more of CICC’s services being offered in Singapore....
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
FDIC board postpones votes on rival proposals that have alarmed the fund management industry
...Spac Saviour A Spac deal involving Donald Trump’s social media platform Truth Social could provide the former US president with a financial lifeline to pay a $454mn penalty, the New York Times writes....
...In July 2021, the SEC fined UBS Financial Services, now owned by Credit Suisse, $8mn for holding short-term, volatility-linked ETPs for customers longer than designed....
...On Monday, the Virginia-based bank said it had agreed to acquire Discover Financial Services for $35bn, to be paid all in stock....
...an Argentine naval vessel during a protracted tussle with the Latin American nation — British water company legislation restricts the ability of bondholders to seize assets if Thames Water is unable to service...
...*Ignites Europe is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at igniteseurope.com....
...Patrick McHenry, chair of the House financial services committee, said it was time for Gruenberg to step aside....
...Equity swaps are financial instruments that allow investors to gain exposure to a stock. They are commonly used by hedge funds to build positions in companies and are typically facilitated by big banks....
...McKernan told the Financial Times he wants to monitor compliance with those “passivity letters” by asset managers....
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...A post mortem by the Financial Stability Board found Swiss authorities would have been capable of shutting down Credit Suisse....
...Toyota chief executive Koji Sato on Wednesday said the Japanese group would focus on “cementing its position” and ensure growth by reshaping its hardware-focused business model to include mobility services...
...Smart reads The fugitive Wirecard chief operating officer Jan Marsalek wasn’t just responsible for Germany’s largest financial fraud in history....
...venture is Leslie Lieberman, an executive who got his start at former investment bank Drexel Burnham Lambert, worked on mergers and acquisitions at Kidder Peabody and bought banks in the wake of the 2008 financial...
...An OCC spokesperson said the agency had “not received a filing from Capital One regarding Discover Financial Services”....
...This week, Amazon Web Services, the cloud market leader, has added to the upbeat mood....
...In debt financing, default rates are a guiding metric for investors, measuring how often a financial obligation is unmet....
US investment firm says board of high street group has failed to engage with it
...Even so, I imagine that plenty of those who keep the shares aloft until then would remain glad to have been of service....
Co-founder of telecoms group Crown Castle criticises agreement to offer board seat to powerful hedge fund
...What is a “transportation service”? It’s one of just a few services costs that drove an acceleration of consumer prices in January: Shelter costs, transportation services and medical services....
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