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Bad Credit Loan News and Current Events

Crisis prompts Credit Suisse and HSBC to axe UK jobs (Reuters via Yahoo! News)

European bank heavyweights Credit Suisse AG and HSBC Holdings Plc are axing hundreds of jobs in Britain as the biggest financial crisis since the Great Depression bites.

Japan Acts to Ease Crisis in Corporate Credit (New York Times)

The global credit crunch has finally hit Japan.

After another sell-off, nations try again on credit crunch (AFP via Yahoo! News)

Japan and Australia announced new measures to try to ease the global credit crisis Tuesday after the United States formally announced it was in recession, sparking a massive worldwide stock sell-off.

Japan announces new measures to ease tight credit (AFP via Yahoo! News)

Japan's central bank on Tuesday announced new measures to tackle a worsening credit crunch that threatens to push up corporate bankruptcies and send Asia's biggest economy deeper into recession.

Crisis prompts Credit Suisse and HSBC to axe bank jobs (Reuters via Yahoo! News)

Switzerland's Credit Suisse AG and Britain's HSBC Holdings Plc are axing hundreds of banking jobs as the biggest financial crisis since the Great Depression continues to bite.

Credit Suisse says it has cut 650 more jobs in Britain (AFP via Yahoo! News)

Swiss banking giant Credit Suisse said Tuesday it had cut 650 additional jobs at its investment banking unit in Britain in the face of deepening financial uncertainty.

Next U.S. crisis: Credit cards (International Herald Tribune)

The Federal Reserve's new consumer credit program is well intended, but $200 billion is only a fraction of the credit that will be pulled out from under American consumers in the next 18 months.

Credit Suisse to cut 650 investment banking jobs (Reuters via Yahoo! News)

Credit Suisse AG is cutting 650 jobs, mainly in investment banking, it said on Tuesday.

Hawaiian Telecom Loan Credit Swaps to Be Auctioned, Markit Says (Bloomberg)

Dec. 2 (Bloomberg) -- Traders of credit-default swaps on loans to Hawaiian Telecom Communications Inc. will settle contracts linked to the collapsed phone company through an auction held in “the next few weeks,” Markit Group Ltd. said.

Credit Suisse Drops After Report on Expansion of U.S. Tax Probe (Bloomberg)

Dec. 2 (Bloomberg) -- Credit Suisse Group AG fell as much as 7.5 percent in Zurich trading after a report that the U.S. Justice Department widened a tax evasion investigation to include the bank.