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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...
...To get the merger approved, Capital One is making a case that there is little overlap between the two banks’ credit card businesses....
...Within weeks, a US regional banking crisis spurred a panic that ultimately contributed to Credit Suisse’s weekend takeover by UBS....
...In 2021, he hired three former Goldman partners — Paul Russo, Scott Rofey and Jeffrey Verschleiser — to lead the risk management of the firm’s equity, macro and rates, and credit divisions respectively....
...Last year, it acquired a footprint in credit investments by purchasing Iron Park....
...that the departures would “create a range of issues” for Barings and attaching a term sheet offering to buy the credit business....
...UBS put the business up for sale after taking control of Credit Suisse when it collapsed last year. It already has a securities unit in mainland China and cannot hold two licences....
...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....
...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....
...If you look at Howard Marks’s investment philosophy for Oaktree, the first item for us is the primacy of risk control....
...The deal allowed Credit Suisse to cut its holdings of such assets from $75bn to $20bn. Apollo rebranded the business as Atlas....
...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....
...Oil markets are set to become “extremely tight” in the second half of this year, according to hedge fund giant Citadel, as Opec+’s control of the market allows it to keep prices high....
...Skydance is offering to buy Redstone’s National Amusements, which controls 77 per cent of Paramount’s voting stock, and later merge with the two companies....
...Instead, the company needs to somehow demonstrate that its entire “operational culture” (leadership, management structure, quality control processes) has been overhauled, root and branch....
...“Everyone is losing sight of the fact that this market is too big for just private credit or banks.” Additional reporting by Sun Yu...
...Passengers in Wuhan’s robotaxis sit in the back seat behind a perspex screen that blocks any compulsion to try to take back control of the vehicle....
...obliviousness offered by private BDCs and other nontraded private credit vehicles....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...But for those in Miami for JPMorgan Chase’s annual credit conference this week, nothing was more enticing than a panel discussion on liability management exercises....
...The family lost control of the group after failing to repay bad debts of close to £1.2bn last year to Lloyds Banking Group....
...Still, buyers’ remorse often sets in when the credit card bill arrives....
...It will combine the work of public company investor activism with any subsequent control buyouts....
...The two control about half of total digital sales, said eMarketer. Labour monopsony could provide a stronger line of attack for the FTC. There is precedent....
...Silver Lake already controls about 71 per cent of Endeavor’s voting rights....
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