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...out when Credit Suisse collapsed last year....
...A two-day EU summit starting Wednesday will commit to “advancing the Capital Markets Union,” according to draft conclusions seen by the Financial Times....
...UBS agreed to rescue Credit Suisse last March in a deal orchestrated by Switzerland’s finance ministry, financial regulator and central bank....
...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....
...“[That] deal is a first-term ambition. A de facto customs union by another name....
...Third, financial product innovation is a vital enabler....
...CREDIT: UAW Read a transcript of this episode on FT.com...
...Scope told the Financial Times that the issues raised by Esma “had no influence on individual ratings issued by Scope”....
...chain had also agreed to allow customers to tip workers with credit cards at unionised stores for the first time in a “sign of good faith.”...
...However, there were also signs of banks starting to stabilise the availability of credit to the economy in the first three months of this year, following a four-year tightening period, as they cut the cost...
...Workers at a Volkswagen plant in Chattanooga, Tennessee voted to form a union on Friday, the first victory in the United Auto Workers’ campaign to build on last year’s strike against the Detroit Three by...
...Asked by the Financial Times if there was anything Nippon could do to win over his members at the USW, McCall’s answer was firm: “No.”...
...Context: First proposed in 2014, the so-called capital markets union should transform Europe’s financial market into more than the sum of its parts, making it more attractive to investors....
...Credit: The Independent, The Times and the Sunday Times Mentioned in this podcast: Joe Biden’s speech to steel workers underscores union’s burgeoning influence Joe Biden calls for tripling of tariffs...
...Much debated at the Financial Times’ New York office yesterday: was the eclipse an economic boost or a drag?...
...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....
...The great majority of private credit funds poses little maturity transformation risk, yet the growth of semiliquid funds could increase first-mover advantages and run risks....
...Big bancassurers such as France’s Crédit Agricole and KBC of Belgium could capitalise on rule changes....
...The report said government spending on the state pension, pension credit and winter fuel payment was expected to be £132bn in 2023-24, or 5.1 per cent of national income....
...Isabel Schnabel, ECB executive board member, told the Financial Times this month that lower borrowing costs and increased lending could cause inflation to “flare up again”....
...A post mortem by the Financial Stability Board found Swiss authorities would have been capable of shutting down Credit Suisse....
...But first we should give some background. Those two markets — private credit and BSL — are seen as near competitors, if not substitutes....
...No one knows who first uttered this quip, but it has been applied to scientists, economists and politicians. It also applies to European financial regulators....
...Trying to copy the US Inflation Reduction Act, a package that includes $369bn of subsidies and tax credits for clean energy technologies, would permanently knock 0.6 per cent off EU gross domestic product...
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