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...of Discover’s Pulse electronic payments network....
...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....
...which is owned by MassMutual, one of America’s biggest life insurers....
...Divecha, head of market development for climate credit risk at S&P, told me yesterday....
...Roughly $10bn of so-called private credit loans have been refinanced in public markets, as borrowers pay down burdensome loans in favour of a cheaper alternative, according to data from Bank of America....
...UBS has agreed to sell $8bn worth of loans to private capital group Apollo as part of a renegotiated deal to hive off a Credit Suisse business that securitised loans for assets such as yachts....
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...from receiving credit....
...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....
...The reality is that many investors these days like the opacity and artisanal marking of truly private credit funds....
...The merger would reduce the ranks of the top 10 US credit card companies, leaving fewer options for consumers....
...Return of Trump The FT writes about how the least divided place in America feels about the inevitability of Trump’s return....
...While it has a credit card loan book of $137bn, it also has issued a significant volume of auto and commercial loans....
...Even if households often put the cost of living above jobs in their hierarchy of economic concerns, why is Biden not getting much credit for it either?...
...It has expanded into areas such as invoice financing and credit cards, and acquired a business that connects customers with professional contractors....
...Preqin’s latest estimate based on data to Jun-23, stands at $1.71tn globally, with $1.08tn of that situated in North America. These numbers aren’t the whole story, however....
...Citi, JPMorgan and Bank of America have all gotten in....
...Still, though, the bank’s new credit rating, two notches below investment-grade, includes the likes of AT&T and Walgreens. It isn’t yet obvious this is a bank failure waiting to happen. Disagree?...
...It turns out that PaLM is a bit of a royalist: Yes, Queen Elizabeth II is alive on January 1st, 2020. She was born on April 21st, 1926, and as of today, she is 93 years old....
...And yet in 2021, the same McKinsey survey showed nearly 60 per cent of industry leaders expected North America to beat China in developing driverless car technology....
...“Last year US credit did outperform — European credit did OK, but not to the same degree,” said Mohit Mittal, chief investment officer of core strategies at Pimco....
...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...
...Speaking at an event at Stanford University, he claimed credit for recognising years ago how significant AI would be for all of Google’s products....
...methane and to eliminate nearly all leaks of the gas by the end of the decade....
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