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...To get the merger approved, Capital One is making a case that there is little overlap between the two banks’ credit card businesses....
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...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...In 2021, he hired three former Goldman partners — Paul Russo, Scott Rofey and Jeffrey Verschleiser — to lead the risk management of the firm’s equity, macro and rates, and credit divisions respectively....
...Integrated care boards, in charge of buying care for their local populations, have been given a July deadline to calculate the investment needed to drive productivity....
...There will also be an undisclosed amount of debt financing provided by a group of private lenders including Blackstone Credit, HPS Investment Partners and Blue Owl Capital....
...Last year, it acquired a footprint in credit investments by purchasing Iron Park....
...that the departures would “create a range of issues” for Barings and attaching a term sheet offering to buy the credit business....
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...The vast majority of people still don’t care. To borrow a phrase from the crypto bros, as long as number go up, why should anyone care? And look, it’s a free country....
...It expects gross margin excluding regulatory credits could hit just 14.6 per cent, which would be a 2.6 percentage point deterioration from the previous quarter....
...Who Cares? Does it really matter if cogs in the billionaire factory are a bit jammed? I mean, sure, private equity dudes care, but should the rest of us?...
...UBS put the business up for sale after taking control of Credit Suisse when it collapsed last year. It already has a securities unit in mainland China and cannot hold two licences....
...Friday interview: Armen Panossian Credit markets are booming. Investor demand for public corporate credit seems insatiable and private credit is the asset class of the moment....
...UBS put the unit, which includes investment banking and brokerage services, up for sale after taking control of Credit Suisse when it collapsed last year....
...“Everyone is losing sight of the fact that this market is too big for just private credit or banks.” Additional reporting by Sun Yu...
...obliviousness offered by private BDCs and other nontraded private credit vehicles....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...The merger would reduce the ranks of the top 10 US credit card companies, leaving fewer options for consumers....
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...(Talking Points Memo) — Do we care why mice get fat? (Settled Science)...
...It has expanded into areas such as invoice financing and credit cards, and acquired a business that connects customers with professional contractors....
...Moody’s has cut New York Community Bancorp’s credit rating to junk, citing “high governance risks” and the potential for commercial real estate losses to create “confidence sensitivity”....
...Edward Finley of Arrow Wealth Advisory LLC pointed out that from a certain point of view, the question “does private credit, as an asset class, generate excess return” is a sort of category mistake: An...
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