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...His first target was Mexican fintech Credijusto in August 2021, but co-sponsor Pimco scuppered the deal, believing the target was overvalued....
...The bank also bought most of failed US lender First Republic last year....
...— Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
...manufacturer, with the debut of its first electric vehicle....
...It has emphasised its technology prowess in building a digital-first bank. While it has a credit card loan book of $137bn, it also has issued a significant volume of auto and commercial loans....
...Negative equity — when the amount of debt owed exceeds the vehicle’s worth — is becoming more commonplace, according to credit report group TransUnion and market researcher JD Power....
...The world’s biggest tech show is also a major auto expo, with South Korea’s Kia and Hyundai, Honda of Japan and Mercedes-Benz of Germany all taking part along with numerous suppliers....
...The watchdog said its probe would include deals made between 2007 — when the Financial Ombudsman Service first started overseeing consumer credit — and 2021, leading experts to increase estimates of the...
...At the age of 12, playing Grand Theft Auto: Vice City, I experienced the electric thrill of total freedom....
...But non-banks still hold the most CRE debt, it seems, along with a large share of mortgages, corporate loans and auto loans....
...It has previously said it does not believe the right of first refusal applies in this instance, and it will pull the plug on the deal if an arbitration decision does not go in its favour....
...Mexico is not the only beneficiary of China’s move to export goods that could end up later in the US to a third country first....
...Chevron, the second-biggest US oil company, has been “engaged in discussions” with Exxon and Cnooc — joint owners of the Stabroek Block project — “regarding a right of first refusal provision in the joint...
...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....
...At first glance, that looks scary; 40 per cent is a big number. But in reality investors should celebrate....
...Besides credit card debts, Blackstone has picked up home improvement loans, auto loans and loans financing rooftop solar power....
...(zoomable version) Fund managers have also turned net positive on corporate profit growth for the first time in over a year....
...The top US energy supermajor said on Wednesday that it had filed a case in the International Chamber of Commerce in Paris to assert its right of first refusal over Hess’s stake in the so-called Stabroek...
...Markets have also been pricing in fewer interest rate cuts on both sides of the Atlantic, with the European Central Bank more likely to cut first....
...The first point to make is that the increase in industry concentration over the past 20 years, as measured by assets, has been remarkable....
...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....
...For all banks, shadow bank financing now makes up more than 6 per cent of all loans, putting it just above auto loans at 5 per cent, and just below credit cards, which crossed $1tn for the first time just...
...Now that there are these other sources of credit, from non-bank lenders to private credit, is the fact that banks are losing market share to other credit providers bad news for the American economy?...
...A version of this article was first published by Nikkei Asia on February 7. ©2024 Nikkei Inc. All rights reserved....
...Since the collapse of several large US regional lenders last March, Blackstone has been buying assets from banks and managing them on behalf of its credit and insurance clients....
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