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The cash-strapped airline wants the tribunal to accept its plea and is seeking an interim moratorium to save its assets, a move the lessors oppose. Go First did not immediately respond to a request for comment on the lessors' bid to deregister the planes. Engine failures have cost the airline 108 billion rupees ($1.3 billion) in lost revenue and expenses, it said. Amid the dispute between the lessors and the troubled airline, banks with exposure to it are awaiting the tribunal's decision to decide their next course of action, two people involved in the talks told Reuters. The company owes financial creditors 65.21 billion rupees ($798 million), its bankruptcy filing showed, and had not defaulted on any of those dues by the end of April.

"Since Xi Jinping took power in 2012, China has expanded the legal landscape for exit bans and increasingly used them, sometimes outside legal justification," the Safeguard Defenders report reads. Attention on the exit bans comes as China-U.S. tensions have risen over trade and security disputes. The Reuters analysis of records on exit bans, from China's Supreme Court database, shows an eight-fold increase in cases mentioning bans between 2016 and 2022. Most of the cases in the database referring to exit bans are civil, not criminal. Some activists say the wider use of exit bans reflects tighter security measures under President Xi.

☆ That simple 'hi' text from a stranger could be the start of a scam that ends up costing you millions
▼ + stars: | 2023-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +14 min

The scammer networks operate fake trading platforms that look "exactly the way they should look," Friedman told CNBC. "When I was looking at who had messaged, I was like, 'I don't know if this person is real,'" Kaimi told CNBC. When pressed, Kaimi told Mike about his financial difficulties, stemming from past credit-card debt. "I thought I was someone who knew when they were being scammed, was able to discern things," Kaimi told CNBC. But when Kaimi told Mike he was planning to withdraw his funds, the penny dropped.

☆ Vice Media cancels its flagship ‘Vice News Tonight’ program as it makes ‘painful’ layoffs and restructures the company
▼ + stars: | 2023-04-27 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

New York CNN —Vice Media will cancel its acclaimed program “Vice News Tonight” as part of a broad restructuring that will result in painful cuts across the organization, the company said Thursday. The restructuring will have major implications on news teams at Vice Media. The company will sunset the Vice World News brand and fold its operations under the Vice News umbrella, giving the company a singular news brand. The restructuring comes as Vice Media, once the darling of the industry, explores a sale. CNN, The Washington Post, NPR, Gannett, Vox Media, NBC News, and others have also cut their workforces in recent months.

☆ Opinion | No One Knows the Value of a College Degree Like Someone Without One
▼ + stars: | 2023-04-26 | by ( Christopher Zara | ) www.nytimes.com time to read: +3 min

The good news is, future job searches may not always be as bleak as mine have been. to Delta Air Lines are dropping college degree requirements for many roles, focusing instead on “skills-based hiring,” a philosophy that emphasizes people over pedigrees. Consider the ever-persistent education wage gap, which has been widening for decades and by some measures got even worse during the past few years. Can we be so surprised that the media presents an incomplete picture about higher education when so few journalists navigate the working world without a four-year degree? One 2022 survey conducted by Morning Consult found that even though 72 percent of employers said they didn’t believe a college degree was a great indicator of a person’s skills, more than half still hired candidates from degree programs anyway because they saw doing so as a “less risky choice.”

☆ Credit Suisse saw $68 billion in first-quarter outflows as it crumbled
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +1 min

[1/2] A view shows the logo of Credit Suisse on a building near the Hallenstadion in Zurich, Switzerland, April 4, 2023. "These outflows have moderated but have not yet reversed as of April 24, 2023," Credit Suisse said. The bank reported results for what is likely to be the last time, as its shotgun marriage with rival Swiss bank UBS (UBSG.S), is expected to be completed soon. Assets managed by Credit Suisse's flagship wealth management division dropped to 502.5 billion francs at the end of March, compared to 707 billion reported for the same period last year. This led Swiss authorities to scramble together a rescue package that included over 200 billion francs in financial guarantees and saw UBS agree to take over Credit Suisse for 3 billion Swiss francs in stock and assume up to 5 billion francs in losses.

☆ US deploying disaster-response team for Sudan
▼ + stars: | 2023-04-23 | by ( Daphne Psaledakis | ) www.reuters.com time to read: +2 min

WASHINGTON, April 23 (Reuters) - The U.S. Agency for International Development (USAID) has deployed a team of disaster response experts for Sudan in the region to coordinate the humanitarian response as fighting rocks the country, USAID head Samantha Power said on Sunday. In a statement, Power said the Disaster Assistance Response Team will operate out of Kenya for the initial phase, adding that the experts are working with the international community and partners to identify priority needs and safely deliver humanitarian assistance. "The United States is mobilizing to ramp up assistance to the people of Sudan ensnared between the warring factions," Power said. "Fighting between the Sudanese Armed Forces and the Rapid Support Forces in Sudan has claimed hundreds of lives, injured thousands, and yet again dashed the democratic aspirations of the Sudanese people. "All of this suffering compounds an already dire situation – one-third of Sudan’s population, nearly 16 million people, already needed humanitarian assistance to meet basic human needs before this outbreak of violence."

☆ Lachlan Murdoch drops defamation suit against Australian outlet Crikey in wake of massive Dominion settlement
▼ + stars: | 2023-04-20 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

We won.”The legal dispute centers on a 2022 Crikey story that carried the headline, “Trump is a confirmed unhinged traitor. And Murdoch is his unindicted co-conspirator.”After the article was published, Murdoch demanded the story be removed and the outlet apologize. Murdoch followed through on the dare, filing a lawsuit against Crikey publisher Private Media. Crikey and Private Media said throughout the legal process that they would defend themselves and were confident in their case. Not only would he have been ensnared in another high-profile defamation case, his camp would have had to make effectively the opposite arguments it has made in the United States in regard to defamation law.

☆ Credit Suisse lodges $440 mln London claim against SoftBank
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows the logo of Credit Suisse on a building near the Hallenstadion where Credit Suisse Annual General Meeting took place, two weeks after being bought by rival UBS in a government-brokered rescue, in Zurich, Switzerland, April 4, 2023. REUTERS/Pierre AlbouyLONDON, April 19 (Reuters) - Credit Suisse (CSGN.S) has lodged a $440 million claim against Japan's SoftBank Group Corp (9984.T) in London as it presses ahead with formal proceedings in a dispute borne from the failure of Greensill Capital, a finance firm. A SoftBank spokesperson accused Credit Suisse of trying to shift blame for its own poor investment decisions and said the case was entirely without merit. "Credit Suisse continues to prioritize maximising recovery for investors in the supply chain finance funds," a spokesperson for the Swiss lender said. Credit Suisse is the biggest name to date to become ensnared in market turbulence unleashed by the collapse of U.S. lenders Silicon Valley Bank and Signature Bank.

☆ US SEC sees DeFi platforms as exchanges, seeks more public feedback
▼ + stars: | 2023-04-14 | by ( Chris Prentice | ) www.reuters.com time to read: +3 min

[1/2] U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler testifies before a House Financial Services and General Government Subcommittee hearing on President Biden's budget request for the Securities and Exchange Commission, on Capitol Hill in Washington, U.S., March 29, 2023. The SEC voted 3-2 to take additional comments from the public after crypto firms criticized the plan as vague and aimed at roping in decentralized finance (DeFi) platforms. Some DeFi platforms may fall under the proposed definition, but others may already be considered exchanges by the existing one, SEC officials said this week. "Make no mistake: many crypto trading platforms already come under the current definition of an exchange," SEC Chair Gary Gensler said in prepared remarks published on Friday. Most crypto trading platforms meet that definition, regardless of whether they call themselves decentralized, Gensler said.

☆ George Santos has a possible challenger, as ex-Democratic Rep. Tom Suozzi considers a run for his old seat
▼ + stars: | 2023-04-13 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Rep. Tom Suozzi, D-N.Y., left, and George Santos, (R-NY) conducts a news conference to advocate for inclusion of the state and local tax (SALT) deduction in the Build Back Better Act reconciliation bill, outside the U.S. Capitol on Wednesday, December 8, 2021. (Photo By Tom Williams/CQ-Roll Call, Inc via Getty Images)Former Democratic Rep. Tom Suozzi of New York is telling political leaders and wealthy donors that he is considering running for his old seat held by embattled Republican Rep. George Santos, according to people with direct knowledge of the matter. Suozzi defeated Santos during his last run for Congress in 2020. He has name recognition and is a prolific fundraiser, which could make him a frontrunner in a Democratic primary for Santos' seat. Democratic businessman Robert Zimmerman, who lost to Santos in 2022, has not ruled out running again for the seat.

☆ China is waging a war on its financial industry. Some high-profile bankers are ensnared
▼ + stars: | 2023-04-05 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Last Friday, authorities opened a similar probe into Liu Liange, former chairman of state-owned Bank of China, the country’s fourth largest lender. And in January, Wang Bin, who headed state-owned China Life Insurance from 2018 to early 2022, was charged by national prosecutors with taking bribes and hiding overseas savings. They include financial giants such as China Investment Corp, the nation’s sovereign wealth fund, China Development Bank, which provides financing for key government projects, and Agricultural Bank of China, another large state-controlled lender. “The current financial crackdown is a new wave of Xi Jinping’s anti-corruption campaign against the financial sector for consolidation of his power,” said Chongyi Feng, an associate professor in China Studies at the University of Technology Sydney. But the deepening crackdown on the vast financial sector could rattle investors.

☆ Office Doom Loop: Landlords Face a Reckoning As Companies Move to Fancy Offices
▼ + stars: | 2023-03-30 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +14 min

The Gas Company Tower in downtown Los Angeles has a sterling pedigree, but even that can't save it from the doom loop facing many older office towers. A huge swath of America's office market is vulnerable to these twin threats of being under-equipped with amenities and underwater financially. This behavioral shift has deeply cut into demand for office space. The amount of sublease space nationally more than doubled from 118.5 million square feet at the end of 2019 to 242.8 million square feet at the end of 2022, Colliers stated. Lenders are often reluctant, he said, to seize office buildings because of the costs and expertise required to operate the properties.

☆ Australia regulator seeks risk reports from banks on startups, crypto -report
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, March 22 (Reuters) - Australia's prudential regulator has started asking the country's banks to declare their exposure to startups and crypto-focused ventures following the collapse of Silicon Valley Bank, according to the Australian Financial Review (AFR). The APRA declined to comment on the report but referred to its statement last week that it would intensify supervision of the local banking industry and seek more information on any potential impact from Silicon Valley Bank's collapse. ANZ Group Holdings (ANZ.AX) declined to comment, while Commonwealth Bank of Australia (CBA.AX), Westpac Banking Corp (WBC.AX) and National Australia Bank (NAB.AX) did not immediately respond to requests seeking comment. Treasurer Jim Chalmers last week said Australia was in a good position to withstand some of the market volatility because the country's banks were well capitalised, well regulated and had strong liquidity. Reporting by Renju Jose in Sydney; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ UBS to take over Credit Suisse, assume up to 5 billion Swiss francs in losses
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +4 min

BERN, March 19 (Reuters) - UBS (UBSG.S) agreed to buy rival Swiss bank Credit Suisse (CSGN.S) for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs ($5.4 billion) in losses, in a shotgun merger engineered by Swiss authorities to avoid more market-shaking turmoil in global banking. The deal includes 100 billion Swiss francs ($108 billion) in liquidity assistance for UBS and Credit Suisse from the Swiss central bank. In that eventuality, UBS would assume the first 5 billion francs, the federal government the next 9 billion francs, and UBS would assume any further losses, the government said. Credit Suisse Additional Tier 1 shares with a nominal value of around 16 billion francs ($17.2 billion) will be written down completely after the Swiss government provided support for UBS' takeover of Credit Suisse, FINMA said. Reuters Graphics Reuters GraphicsThe Swiss government said that it was also giving UBS a guarantee of 9 billion Swiss francs "assume potential losses" from assets as part of the transaction.

☆ Switzerland puts up 260 billion francs for Credit Suisse rescue, documents show
▼ + stars: | 2023-03-20 | by ( John Revill | ) www.reuters.com time to read: +3 min

The total of 259 billion francs of support is equivalent to a third of Switzerland's entire economic output, which stood at 771 billion francs last year. Credit Suisse said last Wednesday it would take 50 billion francs from the scheme, which provides funding secured against collateral such as mortgages and securities. On top of this, the Swiss National Bank offered the combined bank an emergency liquidity loan of up to 100 billion Swiss francs. UBS and Credit Suisse were both in a group of the 30 global systemically important banks watched closely by regulators. A failure by Credit Suisse failure would ripple throughout the entire financial system, the Swiss government said late on Sunday.

☆ UBS to take over Credit Suisse, assume up to 5 bln Swiss francs in losses
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +4 min

The deal includes 100 billion Swiss francs ($108 billion) in liquidity assistance for UBS and Credit Suisse from the Swiss central bank. In that eventuality, UBS would assume the first 5 billion francs, the federal government the next 9 billion francs, and UBS would assume any further losses, the government said. Credit Suisse Additional Tier 1 shares with a nominal value of around 16 billion francs ($17.2 billion) will be written down completely after the Swiss government provided support for UBS' takeover of Credit Suisse, FINMA said. Authorities had been scrambling to rescue Credit Suisse, among the world's largest wealth managers, before financial markets reopened on Monday. Reuters Graphics Reuters GraphicsThe Swiss government said that it was also giving UBS a guarantee of 9 billion Swiss francs "assume potential losses" from assets as part of the transaction.

☆ UBS mulls takeover of Credit Suisse with possible Swiss government guarantees
▼ + stars: | 2023-03-18 | by ( John O'Donnell | ) www.reuters.com time to read: +3 min

The people said that UBS was coming under pressure from the Swiss authorities to carry out a takeover. UBS, Credit Suisse, and Switzerland's financial regulator FINMA declined to comment when approached by Reuters. Regulators have urged Credit Suisse Group to pursue a deal with Swiss rival UBS as the troubled bank began a make-or-break weekend after some rivals grew cautious in their dealings with it. The turmoil at Credit Suisse has put another dent in the Swiss reputation for financial stability on which UBS depends. Any tie-up would be one of the biggest since the global financial crisis.

☆ UBS reportedly seeks $6 billion in government guarantees for Credit Suisse takeover
▼ + stars: | 2023-03-18 | by ( ) www.cnbc.com time to read: +2 min

The $6 billion in government guarantees UBS is seeking would cover the cost of winding down parts of Credit Suisse and potential litigation charges, two people told Reuters. One of the sources cautioned that the talks to resolve the crisis of confidence in Credit Suisse are encountering significant obstacles, and 10,000 jobs may have to be cut if the two banks combine. Credit Suisse, UBS and the Swiss government declined to comment. U.S. President Joe Biden's administration moved to backstop consumer deposits while the Swiss central bank lent billions to Credit Suisse to stabilize its shaky balance sheet. UBS was under pressure from the Swiss authorities to carry out a takeover of its local rival to get the crisis under control, two people with knowledge of the matter said.

Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over the weekend to assess strategic scenarios for the bank, people with knowledge of the matter said on Friday. Swiss regulators are encouraging UBS and Credit Suisse to merge but neither bank wanted to do so, one source said. The boards of UBS and Credit Suisse were expected to separately meet over the weekend, the Financial Times said,Credit Suisse shares jumped 9% in after-market trading following the FT report. Credit Suisse and UBS declined to comment. Efforts to shore up Credit Suisse come as policymakers including the European Central Bank and U.S. President Joe Biden sought to reassure investors and depositors the global banking system is safe.

A source with knowledge of the matter said that Swiss regulators are encouraging UBS and Credit Suisse to merge, but that both banks do not want to do so. Credit Suisse shares jumped 9% in after-market trading following the FT report. Credit Suisse and UBS declined to comment on the report. "Credit Suisse is a very special case," said Frédérique Carrier, head of investment strategy at RBC Wealth Management. The supervisors were told deposits were stable across the euro zone and exposure to Credit Suisse was immaterial, a source familiar with the meeting's content told Reuters.

☆ UBS in talks to acquire Credit Suisse -FT
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +2 min

[1/2] A logo is seen on the headquarters of Swiss bank UBS on Paradeplatz in Zurich, Switzerland March 16, 2023. REUTERS/Denis BalibouseMarch 17 (Reuters) - Banking giant UBS (UBSG.S) is in discussions to take over all or parts of Credit Suisse (CSGN.S), with the boards of Switzerland's two biggest lenders set to meet separately over the weekend, the Financial Times reported on Friday. On Friday evening, Swiss regulators informed their counterparts in the United States and United Kingdom that the merger of the two banks was their "Plan A" to salvage the confidence in Credit Suisse, the report added. Credit Suisse and UBS declined to comment on the report. Bloomberg reported on Thursday that UBS Group AG and Credit Suisse were opposed to a forced merger, with UBS preferring to focus on its own wealth-centric strategy and reluctant to take on risks related to its smaller rival.

Credit Suisse declined to comment on the banks' actions. MARKET TROUBLES LINGERBanking stocks globally have been battered since Silicon Valley Bank collapsed, raising questions about other weaknesses in the wider financial system. A view of the Park Avenue location of the First Republic Bank, in New York City, U.S., March 10, 2023. The supervisors were told deposits were stable across the euro zone and exposure to Credit Suisse was immaterial, a source familiar with the meeting's content told Reuters. "Japan's financial system remains stable as a whole," Kishida told a news briefing.

☆ Morning Bid: Shock and awe - or mayday?
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanMarkets are struggling with whether to be relieved by the sheer scale of Thursday's U.S. bank rescue or be terrified by it. But there was little confidence the rising financial stress would dissipate quickly from here. The discount window jump crashed through a prior record of $112 billion during the banking collapse of 2008. What's more, 75 basis points of Fed rate cuts are still priced between a peak of 5% in May to yearend. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

The package came less than a day after Swiss bank Credit Suisse (CSGN.S) clinched an emergency central bank loan of up to $54 billion to shore up its liquidity. Analysts say authorities appear eager to quickly deal with systemic risks, but worry the potential for a banking crisis is far from over. "Yellen was clear overnight that all bank deposits were protected, but the bank might not be there," he said. Within days, the market turmoil had ensnared Credit Suisse, forcing it to borrow from Switzerland's central bank. Credit Suisse shares closed 19% higher on Thursday, recovering some of their 25% fall on Wednesday.

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