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...Castlelake has taken advantage of recent market turmoil to expand its credit portfolio beyond aircraft leases, buying up billions of dollars of consumer instalment loans from fintech group Upstart....
...Its new fund — known as Strategic Investment Partners V — plans to buy risky debt, including junior loans and convertible bonds, as well as preferred stock....
...Under the settlement, merchants are not required to pass on the savings from lower fees to consumers. They can also charge different prices to consumers based on which credit card they use....
...It will also allow merchants to charge different prices to consumers based on which credit card they use....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...“A very strong labour market means, all else equal, strong consumer credit,” Barnum said....
...Its own streaming service, Max, is not earning enough yet to offset the decline in traditional TV, and its number of “direct to consumer” subscribers in the US and Canada fell in the second half of last...
...Thus, while banks face liquidity pressure in a variety of asset-based finance areas backed by both consumer and non-consumer collateral, the fundamentals of the assets themselves are actually quite solid...
...Alvarez & Marsal director Liam Evans said the proposal was “positive news” for consumers who travel and for businesses....
...Goldman said in February it would explore “strategic alternatives” for its consumer platform, including credit cards....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...Chang’s and business technology provider Computer Services Inc....
...All five of Citi’s core businesses — corporate lending; credit cards and US consumer banking; transaction services; buying and selling stocks and bonds; and private banking — posted rising sales....
...Mortier said a weaker jobs market would sap consumer demand, putting pressure on corporate margins as companies lowered prices to compete for market share. “The US consumer is exhausted,” he said....
...According to researcher Giuliano Bologna at Compass Point Research and Trading, Inc: In the third quarter of 2023, only six us banks had non-mortgage consumer loans (personal, student, etc), measured at...
...A version of this article was first published on November 1 by Nikkei Asia. ©2023 Nikkei Inc....
...Spending on the bank’s credit cards helped raise revenue in its consumer banking division by 12 per cent, while corporate spending helped push up revenue in Citi’s treasury services division, which manages...
...Names, dates of birth, phone numbers, addresses and some credit card details of UK consumers were all accessed by the hackers in 2017, in an attack that the FCA on Friday called “entirely preventable”....
...He spent almost three decades at consumer goods group Unilever and will help source and execute deals....
...I’ve been pretty out there about my view that the US economy is much more resilient than people give it credit for. We have a 70 per cent service-sector economy....
...Consumers will end up paying one way or the other. Then there is the issue of network security. Routing debit transactions is different to credit card transactions....
...Shoppers from Wednesday will be able to buy products and services from businesses using credit and debit cards, WhatsApp Pay and India’s public digital payments network UPI, the company said....
...The returns on offer in private credit were “unprecedented”, Zelter added....
...Parkin said the company would only use “reduction credits from very high quality projects”....
...“Retail spending has been down all year, restaurant spending, travel, services, leisure,” she told CNBC....
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