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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...
...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....
...PAG, which invests across Asia including in credit and real estate as well as private equity, had raised roughly $3bn for its planned new fund by the beginning of this year, according to four people with...
...After the Iowa caucus, it is back to court. Trump will this week be the subject of a civil defamation case being heard in Manhattan....
...In all, banks’ share of private lending in the US economy has fallen from 60 per cent in 1970 to 35 per cent last year, according to a new National Bureau of Economic Research paper....
...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....
...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....
...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....
...UBS executives are working to complete the merger of the bank’s legal entities with those of Credit Suisse by the end of May....
...at the Iowa Environmental Council....
...The Iowa-based company is among the largest sellers of retirement annuities, a status that made it the target of a hostile bid made jointly by Apollo Global Management and MassMutual not long after Bhalla...
...Experian is the world’s largest credit bureau, with the heft to expand into adjacent markets....
...The biggest US banks believe American consumers have weathered the Federal Reserve’s cycle of interest rate rises in good shape, but a new poll shows Joe Biden is getting no credit ahead of November’s election...
...Swipe fees — otherwise known as interchange fees — have long been a point of contention between merchants and credit card companies....
...Prized energy business faces upheaval When Berkshire announced the acquisition of MidAmerican Energy in 1999, Buffett hailed the Iowa gas and electric utility as squarely in the conglomerate’s “sweet spot...
...of 2022, “indicating weakening debt service capacity”, according to the Fed’s research....
...After a difficult year of strikes, there is now “a real excitement in the past few weeks that you could feel in the city,” said Christopher Grimes, the FT’s Los Angeles bureau chief....
...Biz2Credit also has a separate partnership with the Saudi credit bureau Simah/Qarar and is also aiming to expand there....
...US airlines generated $6.8bn from them in 2022, the latest data available, according to the Bureau of Transportation Statistics. That is more than double from a decade earlier....
...The company now says profits and cash flow are sufficiently formidable to support debt service and capital expenditure without the need to raise fresh cash....
...It is not just rising base rates that are to blame: credit card companies have increased the margin they add on to a record high, the Consumer Financial Protection Bureau found last month....
...She has since logged complaints with the Better Business Bureau and contacted a lawyer. “They already knew my credit score when I contacted him, so it seemed legitimate,” said Angela....
...Barings is suing a Nomura-backed venture after most of its top private credit team defected to the new firm, in what the fund manager described as one of the “largest corporate raids at an asset manager...
...Then came a private credit fund....
...Many banks, she reckons “are unable to uniquely identify and systematically aggregate or measure their combined credit and counterparty risk exposures to the private equity sector”....
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