How UBS fell out with Switzerland’s establishment after rescuing Credit Suisse – Financial Times
UBS staff were surprised by criticism of the Swiss bank made by Chief Executive Officer Sergio Ermotti and Chairman Colm Kelleher at an all-hands meeting last month. “They were being pretty brazen,” recalled one attendee based outside Switzerland. “The feeling was that UBS had stepped in to save Credit Suisse last year and now we […]
DNI confirms Iranian operatives give financial support to pro-Hamas groups in the US
Director of National Intelligence Avril Haines A statement was issued Iranian foreign tycoons confirmed on Tuesday that they are not only encouraging ongoing anti-Israel protests in the United States, but also providing financial support to keep them going. Protests against Israel and the United States have been ongoing since Hamas’ attack on Israel on October […]
CFPB Takes Action Against Fifth Third for Wrongfully Triggering Auto Repossessions and Opening Fake Bank Accounts – Consumer Financial Protection Bureau
Washington DC – The Consumer Financial Protection Bureau (CFPB) today took action against Fifth Third Bank for a series of illegal activities that will result in the bank paying a $20 million penalty and providing compensation to approximately 35,000 affected consumers, including approximately 1,000 who had their vehicles repossessed. Specifically, the CFPB is ordering Fifth […]
NATO chief says alliance will set up new command, establish financial pledges to support Ukraine
NATO Secretary-General Jens Stoltenberg said Sunday that the bloc is expected to agree to a five-point plan to help Ukraine in its war with Russia, including transitioning international support to a unified command and a pledge from countries to continue military support for Kiev for at least another year. Stoltenberg told reporters at a roundtable […]
1 in 4 Americans in their 50s will become 'silver squatters' and need financial support from family in retirement – AOL
One in four Americans in their 50s will be a “silver squatter” and will need financial support from their families after retirement. Few retirees dream of spending their retirement years living in their adult children’s basements or begging their families for money. Unfortunately, that’s a harsh reality for many Gen Xers. according to Prudential’s 2024 […]
Consumers’ guide to credit card use: balancing perks with financial health
“Kudlow” panelists Kevin Brady, Art Laffer and Sandra Smith discuss why “Bidenomics” isn’t being embraced by voters. Credit cards have become a staple in American finances as individuals look for ways to gain financial benefits for the present and future. Regardless of age or income, credit card usage is common in the United States. By […]
In European banking, Piigs can still fly – Financial Times
Get your free copy of Editor’s Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. The countries of Portugal, Ireland, Italy, Greece and Spain were once known by the ignoble acronym Piigs when, in their collective turmoil, their government debts and bad loans in their banking systems threatened the future of […]
Penalise startups that take state aid then list abroad, says UK Finance | Financial sector
Britain’s banking industry is calling on the next government to impose penalties on government-backed start-ups that list overseas, amid concerns that start-ups will choose overseas stock exchanges over London. In a paper published this week, UK Finance suggested subsidies and tax breaks could be reversed, and argued that companies receiving government support should have a […]
Jill Biden Says She Understands Americans’ Financial Pains While Wearing $10,000 Outfit For Vogue Interview
While Americans struggle to afford groceries, First Lady Jill Biden appeared on the cover of Vogue Magazine wearing a roughly ten thousand dollar outfit. Vogue released its August issue Monday morning, a few days after President Joe Biden’s poor debate performance prompted calls for him to step down. This is Jill Biden’s third Vogue cover […]
Citi was money launderers' favourite bank, US law enforcement officials say – Financial Times
Get your free copy of Editor’s Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. Senior U.S. law enforcement officials say drug traffickers chose to launder their money through Citigroup because they considered the bank’s less strict anti-fraud measures “preferable.” In an indictment unsealed last week, U.S. prosecutors detailed how two […]