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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....
...Credit Suisse sold the majority of its securitised products unit to Apollo in November 2022, just a few months before the Swiss bank was rescued by its rival UBS in March 2023....
...The AIIB is also in discussions with the Asian Development Bank and Inter-American Development Bank about similar projects, AIIB president Jin Liqun told the Financial Times....
...European backing is key to obtain the post, as the head of the IMF has historically been a European, while the World Bank, its sister institution, has historically been headed by an American....
...Credit Suisse, long hobbled by a cartoonishly long list of scandals ranging from C-suite spying to Bulgarian cocaine smuggling rings, was frogmarched into a shotgun wedding with its arch rival UBS over a...
...Americans have gorged on billions of dollars of credit card debt over the past three years....
...Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...Barclays is relying on American consumers to help it achieve that aim and is targeting an $8bn increase in US credit card lending in the next three years....
...North American private-credit funds have on aggregate called more capital from investors than they’ve distributed for several years now....
...If you want to include all non-bank lending to the private sector, then you get a figure that is very large indeed!...
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
...Because projects often lack the tax liability to utilise these credits, developers enter transactions with major banks, with JPMorgan and Bank of America making up half of the current $20bn tax equity market...
...American Express trades at six times book value while Capital One is below 1.5 times. Credit card plumbing is arcane but very lucrative....
...Significant risk transfers, a tool used by banks to syndicate loans, can hedge credit risk. But more importantly, these deals can also reduce risk-weighted assets....
...The biggest US banks believe American consumers have weathered the Federal Reserve’s cycle of interest rate rises in good shape, but a new poll shows Joe Biden is getting no credit ahead of November’s election...
...“Of course, US leaders must always put America first, but global peace and order are vital to American interests.”...
...Discover is a combined credit card payment network and card-issuing bank. It ranks fourth as a network behind the titans Visa, Mastercard and American Express....
...German banks have historically tended to look abroad for improved returns, but have a record of bad credit decisions in the US....
...Late payments rise on US loans tied to inflated pandemic credit scores Consumers cut back on credit cards as repayment charges hit record high...
...Markets have also been pricing in fewer interest rate cuts on both sides of the Atlantic, with the European Central Bank more likely to cut first....
...The extended coverage is crucial given the huge growth of private credit as an asset class in recent years. JPMorgan Chase recently estimated the size of that market at $3.1tn....
...Credit Suisse had abandoned the North American wealth market in 2016. Expanding business in the US is a key priority for Khan....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...There was Bulgarian cocaine smuggling rings that ended up having alleged links to Credit Suisse....
...FlexiPay, which includes a credit line, a payments system and a credit card, is showing real evidence of growth, though it still runs at a loss....
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