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...To get the merger approved, Capital One is making a case that there is little overlap between the two banks’ credit card businesses....
...The Spac was helmed by Adam Gishen, Thiam’s top lieutenant at Credit Suisse, who served as chief executive....
...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...
...The credit rating agency confirmed it has selected a new space near St Paul’s Cathedral, subject to completing the deal for the new premises....
...Seattle-headquartered Microsoft is OpenAI’s main partner, having invested $13bn in the start-up, much of it in the form of credits for Microsoft’s cloud....
...But it is department stores, rather than lenders, that may have most to lose as the credit cycle sours. The biggest of these — Macy’s, Nordstrom and Kohl’s — do not own their credit card portfolios....
...the Biden administration announced that California-based GlobalFoundries would receive $1.5bn for a new facility and manufacturing expansion and modernisation at sites in New York and Vermont, to produce automotive...
...A post mortem by the Financial Stability Board found Swiss authorities would have been capable of shutting down Credit Suisse....
...The consortium pools credit risk data and publishes it as a resource for public use....
...One is its partnership with state-owned Beijing Automotive Group Co to produce the EVs, which gives it an edge in manufacturing....
...And that is what Nissan and Honda, traditionally arch-rivals in the Japanese automotive market, are doing....
...“You have all the major players coming in, so sales for EVs are going to increase,” said Ammar Master, director of South Asia automotive with GlobalData....
...The Japanese electronics group has announced plans to sell part of its automotive systems business to US private equity group Apollo Global Management....
...The grand Zurich hotel — which dates back to 1838 and sits proudly on Paradeplatz — came into UBS’s possession when it took over Credit Suisse....
...“Everyone is losing sight of the fact that this market is too big for just private credit or banks.” Additional reporting by Sun Yu...
...smartphone product and a self-developed operating system indisputably enjoys an edge over traditional automakers in terms of car connectivity,” said Yale Zhang, founder of Shanghai-based consultancy Automotive...
...The merger would reduce the ranks of the top 10 US credit card companies, leaving fewer options for consumers....
...Many [original equipment manufacturers], such as GM, are making the same kind of bet on hybrids now, as BEV growth declines and CO₂ targets from regulators remain in place,” said Thomas Besson, head of automotive...
...Since the collapse of several large US regional lenders last March, Blackstone has been buying assets from banks and managing them on behalf of its credit and insurance clients....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...Instead, the 62-year-old Weightman is, in his own words, seeking to “redefine the private credit landscape”....
...Excluding the effects of regulatory credits, the gross margin from its automotive unit — a closely watched measure of its core operations — fell to 16.4 per cent for the quarter, down from 19 per cent a...
...The bank said much of the jump in loan losses was tied to credit cards and commercial real estate. The bank said it took losses on 16 different office loans in the quarter....
...income scale are beginning to emerge even as headline economic growth remains robust, according to ING’s chief international economist James Knightley, who expects retail sales to rise 0.3 per cent.Weekly credit...
...Still, buyers’ remorse often sets in when the credit card bill arrives....
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