Hints and tips:
...Ro Khanna, a Democratic congressman from California, on Sunday encouraged the FDIC to work with private-sector institutions to come up with a solution for First Republic....
...“Don’t be fooled,” he says, “Prop 30 . . . was devised by a single corporation to funnel state income taxes to benefit their company . . ....
...Within three days, the Federal Deposit Insurance Corporation and state regulators in California and New York took control of Silicon Valley Bank and Signature Bank and guaranteed all their deposits, beyond...
...SVB was taken over by the Federal Deposit Insurance Corporation on March 10 after it announced a $1.8bn loss on sales of securities, sparking a share price collapse and a deposit run....
...Florida governor Ron DeSantis signed a sweeping anti-ESG bill that bans the state from issuing green or ESG bonds....
...The selling spread to the bond market as well, with yields on benchmark Treasury bonds reaching three-month highs....
...The reorganised WPG is structured as a limited liability company, which typically offers fewer fiduciary protections to minority shareholders than a traditional corporation....
...coupon similar to a bond as long as losses or gains are within a certain threshold....
...A $2.3bn mutual fund sought offers on more than $1bn of mortgage bonds on Sunday after losing more than 30 per cent of its value last week....
...local investment banks such as China International Capital Corporation and Citic Securities find it harder to compete....
...Once the deal is complete, the Chinese-Taiwanese consortium will own a 49.8 per cent stake, and eventually a 65 per cent stake when the bonds are converted into equity....
...The pair were granted bail on a $1m bond each but were ordered detained at their homes with GPS monitoring. They did not enter a plea and are due back in court in New York next week....
...But about $40bn of the capital raised by SoftBank was in the form of “preferred equity”, which gives a bond-like fixed return at a rate of 7 per cent per year....
...In the decade since the deal JPMorgan’s profits from WaMu, which gave the group a network of branches in states from Florida to California, have been “many times more” than the cost of the deal and its fines...
...Kevin Zwick, head of the non-profit Housing Trust Silicon Valley, has raised $20m so far from local companies via a bond issue to back low-income housing development....
...We are not going to bail out those bondholders.”...
...Anne Simpson, a leading governance expert at the California pension fund Calpers, dubs this “a banana republic approach” to corporate governance....
...As Ms Clarke puts it: “Plainly people want something different from equities and bonds — bonds are expensive, and equities are not cheap.”...
...Last week Altice, the French cable giant, was forced to lower the size of a bond offering to finance its takeover of Cablevision....
...loans and bonds....
...In addition, I had the good fortune of realising that some bonds will not be broken and will endure for years to come....
...in San Ramon, California....
...However, the insurance market experienced turmoil in 2008 when the US government was forced to bail out AIG in a $182bn rescue deal....
...(FT) Food for thought California dreamin’ What’s the allure of Silicon Valley for Wall Streeters?...
...Ideally, they will be headquartered in the US, where the headline corporation tax rate is 35 per cent, meaning a buyer from a lower-tax jurisdiction can achieve big savings on completing a deal....
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