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...Switzerland’s financial regulator has attempted to block the release of key documents to investors who are suing it after $17bn of bonds were wiped out in the rescue of Credit Suisse....
...“Every week for the last 18 months, bankers and consultants have been saying credit, credit, credit.” But Sinding is clear what he wants....
...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...
...Private credit is now so big that the IMF dedicated an entire chapter in its latest Global Financial Stability Report to its “rise and risks”....
...He points to the use of co-pilot systems to help reduce mundane tasks in financial services as in other areas....
...Much debated at the Financial Times’ New York office yesterday: was the eclipse an economic boost or a drag?...
...These should offer extra returns for holding complexity or illiquidity without adding credit risk....
...Private credit is booming, nearing $2tn in assets globally. Most of that debt is being traded out of the public eye, a fact highlighted in the latest Global Financial Stability report from the IMF....
...Private equity group Carlyle and Abu Dhabi investment group IMI have agreed a fresh debt funding package for the Barclay family’s Very Group, the Liverpool-based retail and financial services group....
...When traditional financial institutions seized up amid monetary tightening and Silicon Valley Bank’s implosion in 2023, private credit funds were the only game in town to fund most deals....
...Sony will list its financial services arm in 2025, providing a boost for investors even as the Japanese group cut its forecast for full=year sales of its PS5 gaming console....
...to German security services....
...Here’s a fun prediction: The privacy of private credit markets could be eroded by their own success....
...It is just one of several regulations that financial services businesses with cross-Channel operations have been trying to navigate after Brexit....
...Capital One Financial, which is buying rival Discover Financial Services, is up 50 per cent. Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...An investigation by the FT found that the Austrian bank had posted 2,400 job advertisements in Russia since December, with some 1,500 for sales management and customer service roles....
...A post mortem by the Financial Stability Board found Swiss authorities would have been capable of shutting down Credit Suisse....
...financial crisis....
...The Post Office, which remained under public ownership when Royal Mail was privatised, made just £500mn of revenues from financial services last year....
...Data published by the Financial Ombudsman Service, an independent public body, on Friday showed that 5,660 complaints about credit cards were lodged from October to December last year, a 76 per cent increase...
...Now the problem is customer complaints about its subprime credit card business, via the Financial Ombudsman Service....
...But the French asset manager, controlled by Crédit Agricole, is taking to their turf....
...Spending on digital services is particularly buoyant in financial services, experts say, due in part to rising interest rates boosting margins for banks — creating surplus cash for them to spend on IT....
...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....
...Swiss financial news outlet Tippinpoint was first to report his departure....
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