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...Last year, it closed its flagship Asia V buyout fund after raising $7.1bn, eclipsing its targets....
...Finma has argued that without writing down the AT1s, nationalising Credit Suisse would have been the only alternative....
...“Every week for the last 18 months, bankers and consultants have been saying credit, credit, credit.” But Sinding is clear what he wants....
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...By contrast, Zopa — which has 1mn customers — has focused on savings accounts and offering credit cards, car finance and personal loans....
...As I plonked my company-issued headphones over my ears, I couldn’t imagine abstracting my mind to any plain other than my desk....
...Some insurance and pension companies have significantly expanded their investments in private credit and other illiquid investments....
...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....
...These should offer extra returns for holding complexity or illiquidity without adding credit risk....
...German tuning company Klassen has been modifying both the Mercedes-Benz V-Class and Sprinter vans for more than two decades....
...Traditional private equity firms in the past five years have however raised mega private credit funds that can go head-to-head with the bank-originated syndicated loans extended to companies of in effect...
...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....
...An investigation by the FT found that the Austrian bank had posted 2,400 job advertisements in Russia since December, with some 1,500 for sales management and customer service roles....
...Here’s a fun prediction: The privacy of private credit markets could be eroded by their own success....
...Now the problem is customer complaints about its subprime credit card business, via the Financial Ombudsman Service....
...US plans for shutting down a global bank call for removing top management, wiping out the shareholders and imposing losses on creditors of its holding company....
...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....
...This structure helps circumvent US regulations when globally significant banks, such as Crédit Agricole, own fund management companies. One can see the attraction for Amundi....
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
..., and will work to connect buyers and sellers of carbon removal services....
...The bank is specifically focusing on private credit as one of its major engines of growth....
...Last week, it announced it had made a new loan to executive networking company World 50 and while filings show it was already a lender to the company, a person close to Barings described it as a “net new...
...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...
...Ermotti’s award comes as the bank’s bonus pool shrank 14 per cent compared with the combined pool at UBS and Credit Suisse in 2022....
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