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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!...
...materials and in restaurants.Even so, BofA concludes that a recent set of weak credit and debit card data mean their forecasts may be too optimistic....
...manufacturer, with the debut of its first electric vehicle....
...The bank said much of the jump in loan losses was tied to credit cards and commercial real estate. The bank said it took losses on 16 different office loans in the quarter....
...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....
...Analysts at Bank of America think late fees represent between 14 per cent and 30 per cent of the companies’ credit card revenue....
...The US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...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 climate theme at the meetings in Washington’s Foggy Bottom is the focus of today’s first item....
...Workers at a Volkswagen plant in Chattanooga, Tennessee voted to form a union on Friday, the first victory in the United Auto Workers’ campaign to build on last year’s strike against the Detroit Three by...
...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....
...“Clean” automotive margins (which exclude regulatory credits and leasing income) were down from 29.7 per cent in the first quarter of 2022, to 18.3 per cent in the first quarter of 2023, and again to 15.6...
...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....
...But non-banks still hold the most CRE debt, it seems, along with a large share of mortgages, corporate loans and auto loans....
...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...
...At first glance, that looks scary; 40 per cent is a big number. But in reality investors should celebrate....
...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....
...(zoomable version) Fund managers have also turned net positive on corporate profit growth for the first time in over a year....
...Besides credit card debts, Blackstone has picked up home improvement loans, auto loans and loans financing rooftop solar power....
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
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