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...By contrast, CDFIs and credit unions managed more than $150bn in the US in 2019, according to a report by social impact investor Big Society Capital, which is also backing the fund....
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...In some places, such as Denver, the merged business would be the sole employer of unionised grocery workers, the FTC said....
...If the Reagan‑Thatcher revolution was about crushing union power, the pendulum seems to be shifting in favour of labour. Unions are changing too....
...Delinquencies in credit card and commercial real estate loans were on the rise, the FDIC said, and were now at the highest level in almost a decade....
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...Here’s more from the FT analysis of federal campaign data....
...New York Community Bank will raise more than $1bn in a deal led by the investment firm of former US Treasury secretary Steven Mnuchin, in an effort to shore up its finances and calm fears after weeks of...
...The market reaction came after the Federal Open Market Committee voted unanimously to leave rates unchanged at a 23-year high of 5.25 per cent to 5.5 per cent....
...(Only this month New York Community Bank needed an emergency capital infusion.)...
...start cutting its benchmark deposit rate from its record high level of 4 per cent in June, there is more doubt over the pace and total amount of policy loosening that will follow — especially if the US Federal...
...The 2023 Federal Reserve Small Business Credit Survey shows that the share of loan, line of credit and cash advance applicants that were fully approved rose to only 53 per cent in 2022 from the 46 per cent...
...China’s “credit impulse” — the change in the flow of credit — was a “headwind for growth for much of the last year” but has now moved back into positive territory, BofA’s analysts said....
...Monetary policy: Federal Reserve Bank of Atlanta president Raphael Bostic, Federal Reserve Bank of Kansas City president Jeffrey Schmid and Federal Reserve Bank of San Francisco president Mary Daly speak...
...In contrast, the strength of the US economy and high levels of government spending relative to taxes could persuade the Federal Reserve to keep interest rates high for some time, say investors, which could...
...Chaos versus community. Foroohar: Sara? Nelson: I have to end with Mother Jones....
...“The support for a union at Wells Fargo both within the bank and from the outside community is unprecedented,” Weiner said in a statement after the vote....
...The big market-mover yesterday, to our surprise, was not the Federal Reserve....
...At some point, this risks leaving lenders without sufficient reserves and could cause unwanted volatility in short-term borrowing costs and even a credit crunch....
...Starbucks in 2022 introduced more sizes for baristas’ green aprons and the option for customers to tip with their credit cards, two of the union’s initial demands....
...Mnunchin on Wednesday led a deal to pump more than $1bn into New York Community Bancorp to rescue the US regional lender that quickly fell into financial trouble after acquiring Signature Bank from the Federal...
...Instead, banks would have to rely on more traditional, standardised assumptions that measure how risky assets are by using credit ratings from agencies....
...Students at Munich’s technical university are able to take part in programmes at UnternehmerTUM as part of their degrees, where they are able to receive the same amount of credits as for an academic course...
...The US president sought to ease the pressure on would-be homeowners through tax credits outlined in this month’s State of the Union address, but that benefit is unlikely to have as big an impact as lowering...
...Nominal credit card debt hit a record $1.13tn in the last three months of 2023, growing at one of the fastest rates in more than 20 years, according to the New York branch of the Federal Reserve....
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