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...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...
...Other investment outfits inside Brookfield’s credit group include European credit manager LCM Partners, a stake in music royalty group Primary Wave, and a technology-focused lender called Pinegrove, in which...
...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 small banks as merchants gained the ability to steer customers to preferred credit cards....
...The finance ministry said China’s debt was under control, while hidden debt — local government’s off-balance sheet liabilities — was also declining....
...Redstone in 2020 inherited control of the entertainment conglomerate that her late father, Sumner Redstone, built over the past century....
...Regulators require that weaknesses in those controls are prominently flagged to investors....
...Instead, only about 5,600 patients had been approved for treatment by early April, according to a registry by the Centers for Medicare & Medicaid Services shared with the Financial Times....
...By September 2023, Weightman began assembling a private credit team, said Corinthia....
...It represents a major increase in power for Hassabis, who joined Google when it bought his start-up in 2014, and who now controls much of its AI development and product output....
...Kitao and SBI want to take control of the lender....
...Worse still, TikTok is a programmable fentanyl whose effects are under the control of the CCP....
...Full-service banks such as JPMorgan are built for scale — ie getting as many deals through the door as possible — so there’s only so much impact any one individual can make. That’s intentional....
...Ant’s bid for Credit Suisse Securities (China) Ltd, which includes investment banking and brokerage services in mainland China, could complicate UBS’s plans to dispose of its stake in the unit....
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...“As a concept, credit-backed gilt repo is really exactly the same as having credit-backed swaps,” said Simeon Willis, chief investment officer at consultancy XPS Pensions....
...“CVR Energy is a cash cow,” said Nick Moglia, a credit analyst with CreditSights....
...DBRS’s report also contains this wonderful description of Sotheby’s Financial Services’ collection strategy if any deadbeat art collectors fall behind on their payments: SFS employs a strategy for collections...
...Further reading— Private debt is out of control (FTAV)— The private credit ‘golden moment’ (FTAV)...
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...Deficits are “out of control and the real story is that there’s no mechanism for bringing them under control”, said Jim Cielinski, global head of fixed income at Janus Henderson....
...UBS put the unit, which includes investment banking and brokerage services, up for sale after taking control of Credit Suisse when it collapsed last year....
...“For sophisticated investors seeking more direct involvement and control over their investments, direct private credit deals present an enticing opportunity.”...
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
...Private credit stalwarts including Apollo, Oaktree, Angelo Gordon and a handful of others can then seize control, moving from creditors to owners....
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