Credit Suisse Files Long-Awaited UK $440 Million Softbank Suit
Credit Suisse Group AG formally filed its long-awaited $440 million lawsuit against SoftBank Group Corp. stemming from the spectacular collapse of finance firm Greensill Capital.
Bloomberg Business
US Supreme Court Refuses to Shield Turkey’s Halkbank From Criminal Case
The US Supreme Court refused to shield Turkey’s state-owned Halkbank from criminal charges that it helped Iran evade economic sanctions, rejecting some of the bank’s sovereign immunity arguments.
Deutsche Bank Mulls Shrinking Executive Board in Cost Drive
Deutsche Bank AG is considering shrinking its executive board as the German lender steps up efforts to reduce expenses.
Higher Rates Drag Canadian Housing Starts Back to Pandemic Levels
Canadian housing starts are running at the weakest pace since the early months of the Covid-19 crisis, further dwindling the potential supply of homes available in the country.
House Moderates Float US Debt-Limit Extension Until December
A bipartisan group of moderate House lawmakers on Wednesday proposed a backup plan to set aside the US debt limit through year-end, in case President Joe Biden and House Speaker Kevin McCarthy fail to reach a deal on a longer-term solution in the coming weeks.
Solar Tariffs Up to 254% Risk Return in Congress Anti-China Push
Momentum is building in Congress over an effort to re-instate debilitating solar tariffs on US imports of panels from Southeast Asia, raising alarm from renewable developers.
NYC Parking Garage Collapse in Financial District Kills One
A garage in lower Manhattan’s Financial District partially collapsed Tuesday, killing one, injuring multiple people and leaving cars dangling over the parking deck.
More Americans Are Losing Their Homes as Foreclosures on US Properties Rise
US foreclosure filings jumped 22% in the first quarter compared to the same period a year ago, according to a report from real estate data analytics firm ATTOM.
Heathrow Airport Appeals Order to Cut Airline Charges by 20%
London’s Heathrow Airport asked Britain’s antitrust watchdog to overturn an order by the nation’s aviation regulator to cut airline charges by around 20% per passenger next year.
Tesla Makes Top-Selling Model 29% Cheaper in Just Three Months
Tesla Inc. has slashed the starting price of its top-selling vehicle by almost a third in just over three months, making discounts that had already divided analysts all the more unprecedented.
