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SUBPRIME CUSTOMERS
ChatGPT maker OpenAI shifts its focus to business users amid Anthropic pressureOpenAI is prioritising business AI tools to boost revenue. The company is launching a new model for professional work. This strategic shift...- ChatGPT maker OpenAI shifts its focus to business users amid Anthropic pressureOpenAI says it will introduce a new artificial intelligence model for "high-value professional work" as the company faces heightened compet...
- US unsecured loan balances hit record high on demand from subprime customersUnsecured loans in the US saw a significant jump last year, reaching a record $276 billion. This growth was fueled by subprime borrowers an...
- Affordable housing in India is not sub-primeThere are fundamental differences, both in the economic situation and the customer segment that constituted “sub-prime” in the US and the s...
- Swiss trust in UBS eroding: reportOnly 35% of people said they still trusted UBS
- 2 brokers accused of $1 bn subprime fraudA former Wall Street broker pleaded not guilty on Wednesday to charges he and a colleague duped investors into purchasing more than $1 bill...
- World Bank to build on renovated home loansThe World Bank is funding development of new financial instruments for providing home finance to the unorganised sector in the country in t...
- Citigroup says shutting branches in JapanCitigroup, reeling from the subprime mortgage crisis, said on Friday it was closing down its remaining consumer lending outlets in Japan.
- Citi shuts Doxford, CitiFinancial branches in UKGlobal banking giant Citigroup is closing down its Doxford call centre and CitiFinancial branches which could result in the loss of about 7...
- MNC financiers' arms may lose ratings supportAgainst the backdrop of the subprime crisis and credit crunch in overseas markets, Crisil is taking a closer look at ratings assigned to In...
- Dollar steady in Asia as subprime jitters abateThe dollar held steady in subdued Asian trade, propped up by hopes of an easing of the US subprime loan crisis.
- Merrill Lynch to write down $5 bnThe bulk of the losses will come from marking down the value of complex instruments known as collateralised debt obligations and from decli...
- Citigroup warns of 60% earnings dropThe announcement from Citigroup came as the Swiss bank UBS AG said it will post a loss of up to $690 million in the third quarter partly du...
- Credit Suisse to cut 150 jobs due to subprime crisisAn estimated 50,000 job cuts have come into effect so far this year in the mortgage industry.
- 'Wipro to open more centers in China'Wipro is looking to open additional development centres in China as it ramps up operations there to cater to the growing customers' require...
- Indian economy seen escaping subprime falloutIndia should escape major fallout from the US subprime credit turmoil thanks to its largely insulated economy but the country's outsourcing...
- Need for caution in retail lending: AssochamRetail lending has increased by over 30% between March 2006 and March 2007, underscoring a need for caution, revealed an Assocham study.
- Subprime crisis may not affect Indian IT firms: CitigroupIndian IT firms are unlikely to be hit by the US subprime lending crisis as their exposure to clients in the mortgage sector is limited, sa...
- Banks stay alert against personal loan defaultsEven as the world markets face the fallout of indiscriminate lending in the US subprime market, banks in India are keeping a close watch on...
- Think small, act big: MNC banks rework strategyFar from the world of private banking, wealth management and exotic financial products sold by high-street multinational banks, big names l...
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