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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...This included the need for “clear, simple and legitimate recognition” by SBTi of credits in corporate plans, which the document, seen by the Financial Times, suggests could be promoted by industry groups...
...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....
...More and more market participants and pundits are betting that stalling disinflation might stop the Federal Reserve from cutting rates at all in 2024....
...the chair of the Federal Deposit Insurance Corporation has warned....
...UBS shares have dropped 12 per cent since the Swiss Federal Council published its report this month into the failings of Credit Suisse and proposals on how to improve the system....
...Financial conditions have eased spectacularly....
...Total household debt in the US climbed to another record high at the end of 2023, according to the Federal Reserve’s New York branch, with the continued rise in consumers struggling to pay down credit card...
...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....
...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....
...The private credit sector stepped in to the gap left by banks after post-financial crisis regulations forced them to scale back lending to small businesses....
...Credit card balances are at a record high Voters are stressed about credit card debt: 28 per cent cited it as one of their biggest sources of financial stress in a poll for the Financial Times and Michigan...
...As my colleague Harriet Clarfelt has reported, roaring investor demand has fuelled a record IG issuance wave, concentrated largely in banks and financials....
...What now for the ‘golden age’ of private credit? It was a boom year for private credit....
...credit risk concerns in stressed markets....
...Is anyone’s economic and financial behaviour really affected by the real federal funds rate?...
...In a note titled “Hedge fund nirvana” Credit Suisse UBS quant Patrick Palfrey notes how heavily shorted stocks have started to do badly this year....
...I am reading in the FT that Martin Gruenberg, chair of the US financial regulator, the Federal Deposit Insurance Corporation, has criticised the rescue of Credit Suisse (“Credit Suisse rescue deal was unhelpful...
...“It’s about getting stuff done,” he told the Financial Times. “It’s not about philosophy and posturing, it’s about getting delivery on the ground.”...
...Academic economists in a recent Financial Times poll said the Fed would cut two or fewer times this year. Inflation of some goods and services prices remains sticky....
...In his absence, we have a world-class line-up of Financial Times journos, including Katie Martin on the bull case for dividends....
...Opinion: Trump’s financial difficulties pose risks for America as well as for himself, argues Edward Luce....
...It referred to a 2015 matter in which the US Consumer Financial Protection Bureau ordered two of Hankey’s companies, Westlake Services and Wilshire Consumer Credit, to collectively pay nearly $50mn in restitution...
...The US Federal Reserve reported on Friday that US banks crossed the 13-figure threshold in loans outstanding to non-deposit-taking financial companies at the end of January....
...That was certainly true of credit default swaps, used by banks to circumvent capital requirements in the run-up to the 2008 financial crisis....
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