Shares of UBS (UBS) – Get Report and Credit Suisse (CS) – Get Report rose on Monday after a media report said UBS Chairman Axel Weber was examining the possibility of a merger between the two Swiss banking giants. The coronavirus pandemic and low or negative interest rates have buffeted banks around […]
Credit
Exclusive: EU Draft Plan Targets Free Carbon Credit Cut for Most Industries | Investing News
BRUSSELS (Reuters) – Most industries covered by the European Union’s carbon market would see free credits cut by the highest possible rate over the next five years under draft plans, potentially costing some of the biggest polluters millions of euros. The carbon market is the EU’s main policy for cutting greenhouse […]
Losing the extra $600 unemployment benefit may not have stopped Americans from spending money, J.P. Morgan credit card data show
© Getty Images In July, personal consumer spending rose by 1.9{5667a53774e7bc9e4190cccc01624aae270829869c681dac1da167613dca7d05}, government data shows. At that point, unemployed Americans were still receiving an extra $600 a week in federal unemployment benefits on top of their state benefits. Whether or not you believe the now-expired $600 weekly unemployment benefit was overly […]
Massachusetts sues auto lender Credit Acceptance Corp., seeking $120 million in damages
Credit Acceptance Corp., one of the nation’s largest auto lenders to people with low credit scores, was slapped with a lawsuit from Massachusetts on Monday. The suit, which was brought by the office of Massachusetts Attorney General Maura Healey, alleges that the lender defrauded as many as 24,000 borrowers over […]
To Reduce Unemployment, The Fed Should Focus On Credit Policy Over Monetary Policy
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WASHINGTON, Aug. 27, 2020 — Federal Reserve Chairman Jerome Powell announced on Thursday that the … [+] central bank will seek to achieve inflation that averages 2 percent over time, a new policy strategy. (Photo by Liu Jie) (Xinhua/Liu Jie via Getty Images) Xinhua News Agency/Getty Images With unemployment still […]
Tradewind Finance Closes $15 Million Credit Facility for Manufacturer Headquartered in Europe
Bloomberg Remote-Work Boom Mints Another Internet Billionaire (Bloomberg) — The coronavirus pandemic, for all its human and economic tragedy, has spurred a once-in-a-generation opportunity for the technology industry, seized most visibly by the sector’s giants such as Apple Inc., Amazon.com Inc. and Microsoft Corp., and productivity players like Zoom Video […]
Losing the extra $600 unemployment benefit may not have stopped Americans from spending money, J.P. Morgan credit card data shows
Whether or not you believe the now-expired $600 weekly unemployment benefit was overly generous or not, like stimulus checks, they allowed more Americans to spend money. But even without the enhanced unemployment benefit, Americans are still reaching for their wallets in stores, restaurants and auto dealerships, data show. In July, […]
Taylor: Stock market and credit scores not reflecting U.S. economic woes. So are we the Coyote or the Road Runner?
Whatever you do, don’t look down. You remember that maximally intense moment in every Road Runner versus Wile E. Coyote cartoon? When the Coyote is so focused on chasing the Road Runner that he’s gone beyond the edge of the cliff, but he does not yet realize it? And we […]
Salary Finance To Provide Access To Affordable Credit To Employees of Trusted Capital Group (TCG)
Salary Finance, the leading global provider of financial education and salary-linked benefits for employees, announced today that it has partnered with Trusted Capital Group (TCG), a provider of investment and retirement planning solutions, to deliver access to affordable credit to TCG’s employees. Salary Finance is a free benefit available to […]
AM Best Affirms Credit Ratings of Associated Electric & Gas Insurance Services Limited
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Associated Electric & Gas Insurance Services Limited (AEGIS) (Hamilton, Bermuda). The outlook of the Credit Ratings (ratings) is stable. The ratings reflect AEGIS’ balance sheet strength, which AM Best categorizes […]
Credit traders are leaving Deutsche Bank as compensation squeezed
Employee exits at Deutsche Bank aren’t a new phenomena — there’s been a steady stream of them since the struggling firm announced last summer it would cut 18,000 jobs and sell off its stock-trading business as it tries to stem billions in losses. At least initially, Deutsche executives planned to […]
The best travel credit cards of 2020
Taking the family on trip? The right credit card can take the hassle out of your vacation. — Our editors review and recommend products to help you buy the stuff you need. If you sign up for a credit card after clicking one of our links, we may earn a […]