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...Last month UBS agreed to sell an additional $8bn of loans to Atlas SP as part of a renegotiation of the deal that also scrapped an associated investment management arrangement....
...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...Finma has argued that without writing down the AT1s, nationalising Credit Suisse would have been the only alternative....
...The increase was due to the requirement for US-listed companies to pay auditors to check their internal controls under Sarbanes-Oxley rules and one-off costs associated with changing from international to...
...Primark will expand its click and collect service across the UK but Weston reiterated that the economics of home delivery still did not make sense given its low prices and the costs associated with it....
...Put another way, banks have been able to claw back just over half of the $20bn that shifted in favour of private credit firms in 2023. So, have we reached peak private credit?...
...Technology Group engaged WithumSmith+Brown to check its financial statements shortly after the company was founded in 2021, but by the end of the year the accounting firm had decided it did not want to be associated...
...Private credit alpha Unhedged went through a period last summer during which we obsessed over what expected returns for private credit might be, and where those returns come from....
...JPMorgan’s emphasis below: How big really is the private credit asset class? Naturally the answer to this question depends upon your definition of what constitutes ‘private credit’....
...These should offer extra returns for holding complexity or illiquidity without adding credit risk....
...The Associated Press news agency said it had initially published the photo, issued by the couple’s official residence at Kensington Palace, but later retracted the image....
...That included loans associated with some marquee buyouts including Elliott Management’s takeover of technology business Citrix, Elon Musk’s purchase of social media company Twitter and Apollo’s acquisition...
...Private credit deals, in addition to generating interest income, also charge management fees to limited partners....
...But inflation itself has been a boon to credit metrics. US debt service ratios are at their strongest for more than 40 years....
...Capital One Financial, which is buying rival Discover Financial Services, is up 50 per cent. Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...Here’s a fun prediction: The privacy of private credit markets could be eroded by their own success....
...The group, which is one of the world’s biggest insurers and offers broader financial services including banking, reported operating profits down a fifth at Rmb118bn ($16bn) last year, in results released...
...that the departures would “create a range of issues” for Barings and attaching a term sheet offering to buy the credit business....
...Data published by the Financial Ombudsman Service, an independent public body, on Friday showed that 5,660 complaints about credit cards were lodged from October to December last year, a 76 per cent increase...
...One of Street’s main campaign promises is to treble the amount of social housebuilding across the region, a policy more commonly associated with Labour....
...Negotiations between highly indebted IT services company Atos and its lenders are hanging in the balance after one of its biggest creditors, Crédit Agricole, signalled it wanted to walk away....
...Less than a year after UBS’s rescue of Credit Suisse, just a handful of Credit Suisse senior managers remain at the enlarged Swiss bank, including former chief executive Ulrich Körner....
...Now the problem is customer complaints about its subprime credit card business, via the Financial Ombudsman Service....
...A post mortem by the Financial Stability Board found Swiss authorities would have been capable of shutting down Credit Suisse....
...Credit: Associated Press, WCPO-9 Mentioned in this podcast: Donald Trump-backed US Senate candidate clinches Republican nomination in Ohio Sign up for the FT’s Swamp Notes newsletter here Swamp Notes...
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