Credit Suisse Ubs Shares Plunge
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Societe Generale chief defends controls after Hong Kong trader’s unauthorized bets
The French banks both outstripped analysts’ expectations, causing their share prices to surgeMarketWatch - Business - Hong Kong -
Credit Agricole to Meet Targets Early
Credit Agricole posted a rise in first-quarter earnings that beat expectations on revenue growth across all its businesses and said it would reach its medium-term targets by the end of this year.The Wall Street Journal - World -
Errors on credit reports are an ‘epidemic’ — but nearly 25% of Americans can’t access their credit reports to check for mistakes, consumer advocates say
Credit reports are supposed to be available for free every week, but many consumers can’t get to their data, a Consumer Reports study found.MarketWatch - Business -
Credit cards are the ‘financing of last resort’ for older adults as inflation persists
As inflationary pressures leave older adults with little wiggle room to pay for everyday items and cover emergency costs, credit cards have become the financing method of last resort. As a result, balances have jumped since last year.MarketWatch - Business -
EV Makers Get Two-Year Reprieve on Tax-Credit Restrictions
The Treasury Department has extended eligibility for cars containing Chinese graphite through 2026.The Wall Street Journal - World -
Medical Debt Shows Up Less Often on Credit Reports
But the Consumer Financial Protection Bureau said 15 million people still had medical bills in their files, which can make it hard to qualify for loans.The New York Times - Business -
Biden administration grants flexibility for automakers in EV tax credit rule
The Biden administration on Friday granted automakers some flexibility on qualifying for electric vehicle tax credits. The new final guidance, issued as part of the 2022 Inflation Reduction Act, incorporates a two-year exemption to provisions of ...The Hill - Politics - Joe Biden -
A Handful of Plunging Stocks Suggests the Consumer Is Not All Right
Investors sold off Starbucks, DoorDash, and Netflix after weak earnings.Inc. - Business -
The No. 1 credit card myth that 'just will not seem to die'—why you shouldn’t fall for it
Believing this myth about credit cards could actually harm your credit score in the long run. Here's why people tend to fall for it anyway.CNBC - Business -
US loosens some EV battery rules, potentially increasing tax credit eligibility
The U.S. government has loosened some rules governing electric vehicle tax credits a bit, potentially making more EVs eligible for credits of up to $7,500ABC News - Top stories -
How Belgium’s Socialists want to plug the EU’s spending gaps
Also in this newsletter: why immigration is reopening old Brexit wounds in IrelandFinancial Times - World -
Agustín Carstens: ‘the Basel regime has been very good for the banks’
The BIS head on making global banking betterFinancial Times - World -
A bus plunges into a rocky ravine in northern Pakistan, killing 15 people and injuring more than 20
A bus has plunged into a rocky ravine in northern Pakistan after its driver lost control, killing at least 15 people and seriously injuring more than 20 othersABC News - World -
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Puig Shares Jump on Debut
Shares of Jean Paul Gaultier owner Puig rose sharply above the listing price on their trading debut in Spain after the world’s biggest initial public offering so far this year.The Wall Street Journal - World -
Russian forces sharing base with US troops in Niger
The Russians are said to be sharing a wing of Niger's main airport, but not mingling with US troops.BBC News - Top stories - Russia -
How Marine Le Pen fell out with the German far right
Trip to tropical island brings Rassemblement National to brink of break-up with Alternative for GermanyFinancial Times - World - Germany -
Conservative Ben Houchen holds on as mayor in key Tees Valley race
Result provides glimmer of hope for Rishi Sunak in otherwise grim local election resultsFinancial Times - World -
Cryptofinance: Stablecoins encroach on shadow banking system
Plus, CZ gets four months and outflows from bitcoin ETFsFinancial Times - World - Crypto -
ICC chief prosecutor hits out at unnamed ‘threats’ against his work
Israeli officials had warned that the tribunal was considering issuing arrest warrants in relation to war in GazaFinancial Times - World -
US labour market undershoots forecasts with 175,000 new jobs
Non-farm payrolls figure for April indicates US economy is cooling and bolsters expectations for rate cuts this yearFinancial Times - World