HANOI, May 25 (Reuters) – Vietnamese electric vehicle (EV) maker VinFast said it was recalling all the first batches of vehicles it shipped to the United States last year following a warning safety certificates issued by the American authorities. The move came after the US National Highway Traffic Safety Administration (NHTSA) said 999 of VinFast’s … Read more
May 23 (Reuters) – UBS Group AG (UBSG.S) said on Tuesday it was negotiating with Swiss authorities over loss protections related to its takeover of Credit Suisse Group AG (CSGN.S) and its demands capital regulations. The disclosure underscores how aspects of the merger between the two banks, hastily arranged over a weekend in mid-March by … Read more
May 22 (Reuters) – Mizuho Financial Group Inc is to buy U.S. mergers and acquisitions advisory firm Greenhill & Co Inc for $550 million including debt, the companies said on Monday. as Japan’s third-largest lender eyes a bigger share of the world’s largest investment banking fee pool. Greenhill shares more than doubled to close at … Read more
May 22 (Reuters) – Shares of PacWest Bancorp (PACW.O) jumped on Monday after the troubled regional lender announced it had agreed to sell $2.6 billion in construction home loans at a price reduced in order to improve its balance sheet. PacWest shares rose nearly 20% on the deal, giving the Los Angeles-based bank breathing space … Read more
NEW YORK, May 22 (Reuters) – JPMorgan Chase & Co’s (JPM.N) net interest income will rise by $3 billion as it earns more interest on its purchase of bankrupt First Republic Bank this year , executives told investors Monday. The largest US lender expects its net interest income to reach $84 billion thanks to higher … Read more
NEW YORK/WASHINGTON, May 22 (Reuters) – As talks on raising the U.S. government debt ceiling to $31.4 trillion culminate, banks and asset managers on Wall Street brace for the fallout a potential defect. The financial industry has prepared for such a crisis before, most recently in September 2021. But this time the relatively short time … Read more
One-year LPR maintained at 3.65%, five-year LPR at 4.3% The yuan broke the 7 to the dollar mark Widest China-U.S. government bond yield spread in two months PBOC may cut RRR in next policy move – analysts SHANGHAI/SINGAPORE, May 22 (Reuters) – China kept its key rates unchanged for the ninth month of May on … Read more
BNPL providers must carry out background checks before lending Must notify customers when credit limits increase Zip COO: A change would mean “business as usual” SYDNEY, May 22 (Reuters) – Australia has said it will regulate buy-it-now and pay-later services as a consumer credit product under new laws, requiring BNPL providers to make background checks … Read more
May 21 (Reuters) – The absence of women from the list of potential successors to the CEO of Morgan Stanley (MS.N) underscores the importance of cultivating and retaining diverse talent, according to corporate governance experts. Morgan Stanley co-chairmen Ted Pick and Andy Saperstein and chief investment officer Dan Simkowitz are the first to succeed James … Read more
(1/2) A view of the exterior of JP Morgan Chase & Co. headquarters in New York May 20, 2015. REUTERS/Mike Segar NEW YORK, May 19 (Reuters) – A judge said on Friday he would decide by the end of the month whether legal action by JPMorgan Chase & Co (JPM.N) should be brought against a … Read more
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