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...The bank reported a return on tangible equity — a key measure of bank profitability — of 12.3 per cent, down from 15 per cent last year but ahead of its target of more than 10 per cent for 2024....
...Some banks are unable to quantify their exposure to private equity, the Bank of England has found, in the latest warning that the $8tn industry could threaten the wider financial system....
...Princeton gets burnt by private equity For many years, investing in private equity was a sure way for university endowments to make money....
...The UK’s Coventry Building Society has agreed to buy the Co-operative Bank for £780mn in a deal that would eventually return the private equity-owned lender to mutual ownership....
...higher despite a significant repricing in the expected magnitude of central bank interest rate cuts....
...Asian equities were muted in afternoon trading, with Hong Kong leading gains in the region despite paring back its gains from earlier in the day....
...“Markets have priced out lots of the Federal Reserve rate cuts they’d expected earlier in the year, but they’re still hopeful for the Bank of England and European Central Bank.”...
...banks....
...Barclays has agreed to sell approximately $1.1bn worth of credit card debt to private equity firm Blackstone, as the British bank steps up efforts to move assets off its balance sheet in advance of more...
...Shares of New York Community Bank plunged 40 per cent on Wednesday after a report that the bank was seeking to raise money to shore up its finances through a stock sale....
...“You don’t have nearly as many companies going public because of the growth of private equity,” said David McGrath, chief equity strategist at Oakworth Capital Bank in Alabama....
...Return on tangible equity, an important measure of bank profitability, stood at 8.7 per cent, higher than a year before but below Deutsche’s medium-term target of more than 10 per cent....
...Some banks really do have too much capital....
...Private equity-owned German real estate lender Aareal Bank warned there was “more to come” after one in four of its US office loans went into default last year....
...Equities in Hong Kong and China fell on Tuesday despite the country’s central bank announcing a reduction to the lending rate for mortgages on the mainland....
...“To truly understand how dominant they have been, consider that only 5 per cent of the market — around 25 stocks — has delivered stronger returns on a year-on-year basis,” wrote global equity strategist...
...(Ethan Wu) The UK equity discount, redux Yesterday I wrote about the UK equity discount and whether it really exists....
...UK equity valuation multiples are depressed, and [equity risk premium] for the region is also looking fairly high versus the US. Of course, the derating of UK equities vs....
...London’s FTSE 100 led equity markets higher in Europe, buoyed by strong gains for supermarkets and index heavyweights in the banking sector....
...“But equities are getting crushed.” Microsoft, Alphabet and Meta all report results for the first quarter next week, while Nvidia’s results are due in late May....
...“Surging oil is reviving stagflation fears,” said Emmanuel Cau, head of European equity strategy at Barclays....
...,” the bank said in a statement....
...Returns on equity are in the double digits, trending towards the European average....
...(Bank of England) — Farewell to the BoE’s fan chart (Fathom) — The macroeconomics of mental health (NBER)...
...Asian equities were mixed during early trading on Thursday after China’s central bank announced measures to increase liquidity in the country’s financial system....
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