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...The letter from the bondholders’ advisers — law firm Akin Gump and investment bank Jefferies — cites “press reports” that they said raised the prospect of a “material impairment” of the debt that they hold...
...The group’s loan-to-value ratio has already crept up above its target of 50 per cent in recent years, according to company documents, as the value of its holdings has been hit by higher interest rates and...
...By contrast, Chinese mutual funds purchased much less during the period — Rmb78bn — while larger Chinese banks sold Rmb220bn of their holdings of the bonds....
...According to a company filing, Norway’s central bank’s investment branch is interested in purchasing shares for up to $100mn at the IPO price....
...It also previously took aim at Greencore’s rival Premier Foods....
...BUY: Premier Foods (PFD) The company will cut more prices in the fourth quarter after its total market share gains rose by more than 1.2 per cent, writes Christopher Akers....
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...Highlights Shohei Ohtani’s former interpreter was charged with bank fraud by the US Department of Justice, which accused him of wiring more than $16mn from the Los Angeles Dodgers baseball star’s bank account...
...Jefferies has advised on many of Fertitta’s deals, while he and Handler have raised four special purpose acquisition companies together under the name Landcadia Holdings....
...Other suggestions include a different rule book for competition policy, one which considers European companies as competing on a global scale....
...Net profits for bank and broker Nomura surged almost 670 per cent from a year earlier in its latest quarter, as Tokyo stocks eclipsed their 1980s bubble-era high and Japanese companies raced to raise funds...
...Analysts believe that if last year’s pace of reductions is continued, the state holding could hit the low 20s by year-end — likely fuelling calls for an end to a cap on executive pay that it still faces,...
...Former Postbank shareholders have spent 14 years claiming that Deutsche Bank paid too low a price for their holdings....
...BlackRock has 10 per cent or more of the shares in 38 bank holding companies that are supervised by the US Federal Reserve or the Office of the Comptroller of the Currency but which own FDIC-supervised banks...
...He was found guilty of corruption in 2018, sentenced to 10 years in prison and disqualified from holding public office....
...He criticised Irish banks’ later unsustainable lending....
...Speaking at the lender’s annual general meeting in Basel on Wednesday, Kelleher argued that holding additional capital would put Swiss banks at a disadvantage to US and Asian competitors....
...Historically, these large banks have been called on to bail out struggling companies during times of distress, such as through buying stakes in troubled local banks and offering more bailout loans to developers...
...The net bank debt to adjusted cash profits leverage ratio improved from 0.7 times last July to 0.4 times. A manageable debt position supports the company’s hopes for a share buyback programme....
...In 2022, the bank also advised on the £2.5bn sale of Premier League team Chelsea....
...JPMorgan Chase has named Eric Menell and Gian Piero Sammartano to new roles as heads of the bank’s sports investment banking coverage....
...a mainland Chinese real estate company....
...Prosecutors are probing whether Benko and Signa misled the bank regarding the company’s financial health. The loan was collateralised with shares in Signa Group entities....
...Preliminary estimates suggest that banks covered under the proposals could face an increase of 16 to 20 per cent in required capital holdings....
...But the initial public offering market in London has remained subdued in recent months, with many private companies holding off on listing plans until more favourable market conditions return....
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