Hints and tips:
...“The bank was incorporated in 1848 and is here to stay for a very long period of time. This is a team.”...
...Victoria Clarke, UK chief economist at Santander CIB: Falling inflation will see consumers benefit from positive real pay growth....
...As always, drop your story ideas to me at sid.v@ft.com and have a great week....
...They illustrate their argument by comparing the paths to success of the richest people in Mexico and the USA (p. 39)....
...Throughout the year nearly every major retail bank, from Bank of America to Santander, has rolled out new features to help consumers avoid the proverbial “$35 cup of coffee”, when overextending your account...
...You can reach the fintechFT team at Imani.Moise@ft.com or Sid.V@ft.com. Your thoughts and suggested topics for coverage are always welcome. Thanks for reading....
...Write to the FintechFT team at imani.moise@ft.com and sid.v@ft.com....
...Barclays and Santander — two of the biggest UK lenders — have in recent weeks stopped their customers from sending funds to Binance through their payment cards, citing a consumer alert issued last month...
...It prompted high-street banks Barclays and Santander to restrict their customers from sending funds to the Cayman Islands-incorporated company....
...Santander’s US retail banking operation is separate from its more profitable consumer finance division, which was hit by a $550m settlement this year to resolve claims of deceptive lending....
...Santander Consumer USA made $31bn in car loans in 2019, an increase of 9 per cent, and reported net income of just under $1bn....
..., 2022 will lead to new vulnerabilities due to rising prices of consumer goods and in particular energy....
...A temporary stamp duty holiday that offers purchasers a tax saving of up to £15,000 has fuelled a V-shaped recovery in the housing market since May....
...At Spain’s Santander, new charges for potential bad loans also slowed....
...HSBC North America’s total loan book, on a risk weighted basis, was almost $129bn at the beginning of the stress tests, while Santander USA’s was almost $119bn....
...Credit Acceptance Corp and Santander Consumer USA (a subsidiary of Madrid-based Banco Santander) are both down more than a third for the year to date. Ally Financial has shed nearly half of its value....
...Bankers’ early optimism that the pandemic would manifest as a sharp economic shock followed by an equally rapid recovery — the ubiquitous “V-shaped” recession — has given way to pessimism....
...And now a fifth expect a “V-shaped” economic recovery, up from a 10th in the previous month....
...Major new film releases have been delayed, reflecting cinema attendance uncertainty in the USA: Disney’s Mulan and the Christopher Nolan movie Tenet have both been delayed indefinitely (were summer releases...
...And are now reassured by its ongoing relevance to UK consumers....
...Campari will be hard hit by COVID-19 due to high On Trade exposure, especially in core markets of Italy and the USA....
...Additional reporting: Sujeet Indap in New York and David Keohane in Paris...
...The group blamed weakness in consumer confidence, pressure on used car margins and retail cost inflation for its weak performance....
...My own feeling is that this will not be a V or even a U-shaped recovery, but a downwardly trending W that has a high risk of turning into a L....
...With the new threat to sue from a coalition of US states, it’s going to be a tough call to make for the US regulator. DD’s Indap v NYU’s Damodaran: Is stock compensation good or bad?...
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