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...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...
...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...
...The Italian team was sold to private equity group RedBird Capital Partners for €1.2bn, the highest price paid for a club outside the English Premier League....
...grows its own overseas presence to offer services to those looking to expand....
...Thames Water — which supplies 16mn people in London and the surrounding area, or about a quarter of the population of England and Wales — has suffered a sharp drop in its bond prices after its parent company...
...When the bill comes due, Capital One Financial will need to show it has the funds....
...In debt financing, default rates are a guiding metric for investors, measuring how often a financial obligation is unmet....
...The parent transfers $100mn of capital to firm A to backstop risky new positions....
...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....
...Last year capital expenditure spending totalled $28.1bn....
...UBS chair Colm Kelleher has said the bank is “seriously concerned” about proposed new Swiss financial rules that would significantly increase its capital requirements....
...The deal underscores how large private capital groups such as Blackstone that face fewer restrictions than banks are stepping into mainstream debt markets to help alleviate capital pressures on large lenders...
...In 2017, Kotak Mahindra launched its digital banking service called 881, which now accounts for about 95 per cent of its personal loans by volume....
...“Save for LCF’s parent company, London Financial Group Limited, none of LCF’s borrowers were connected with or controlled by LCF.”...
FDIC board postpones votes on rival proposals that have alarmed the fund management industry
...Reenan will be global co-head of private capital and Bushner will serve as head of US private capital. They were both previously at Latham & Watkins....
...An OCC spokesperson said the agency had “not received a filing from Capital One regarding Discover Financial Services”....
...Macquarie put in place a so-called “whole-business securitisation”, where the utility’s cash flows service different tiers of debt....
...The New York-based firm raised a $12.7bn fund in 2021 and has built stakes in TikTok parent company ByteDance, fast-fashion company Shein and payments company Stripe....
...Porticoes Capital will seek to take over banks closed by the Federal Deposit Insurance Corporation, the US regulator, according to an official filing....
...The package of 22 recommendations, which will be submitted for discussion in the Swiss parliament, includes bolstering the powers of Finma, the financial regulator, as well as tightening capital requirements...
...*Ignites Europe is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at igniteseurope.com....
...McKernan told the Financial Times he wants to monitor compliance with those “passivity letters” by asset managers....
...The backlog is four times larger by value than it was during the global financial crisis. Not all these unsold companies will be duds....
...Even so, I imagine that plenty of those who keep the shares aloft until then would remain glad to have been of service....
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