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...The event highlighted the US scheme, which has attracted interest from Amazon, Mastercard and Bank of America but is still seeking corporate buyers for its credits....
...Output per hour worked, a standard measure of labour productivity, has grown more than 6 per cent in the US non-farm business sector since 2019, according to official data....
...Even if households often put the cost of living above jobs in their hierarchy of economic concerns, why is Biden not getting much credit for it either?...
...Preqin’s latest estimate based on data to Jun-23, stands at $1.71tn globally, with $1.08tn of that situated in North America. These numbers aren’t the whole story, however....
...Any up-and-coming pop star knows: it is tough to break America. A number of financial institutions have tried to crack the US over the years. Not many have succeeded....
...Factories only employ one-tenth of the whole non-farm business sector, so they need outsized productivity growth to move the aggregate needle....
...It can take years for new renewable energy projects such as wind farms to gain regulatory approval and be connected to the grid....
...What returns to expect from private credit Should M&A return, it could well energise an already frenetic corner of finance: private credit....
...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....
...which is owned by MassMutual, one of America’s biggest life insurers....
...Forecasting a “negative free cash flow over the forthcoming three years”, it warned that there would be a “likely shift in the [government’s] willingness to support the company’s full service of its debt...
...Credit moment The slow, humdrum world of corporate lending is suddenly all the rage, Lex writes. Defamation pit bulls Law firm Clare Locke helped win a $787mn settlement against Fox News....
...The US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...The bank is specifically focusing on private credit as one of its major engines of growth....
...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....
...Phil Lloyd, head of non-bank financial institutions at NatWest Markets, warned clients this week that settling trades directly with buyers, rather than via CLS, “adds credit and operational risk”....
...But Bank of America’s credit strategist Oleg Melentyev has a good idea: While we cannot directly observe valuations and credit loss experience in private credit space, we can look at proxy issuers and make...
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...The bank said much of the jump in loan losses was tied to credit cards and commercial real estate. The bank said it took losses on 16 different office loans in the quarter....
...Nubank has laid out ambitions to be Latin America’s biggest financial services group as the $44bn-valued digital lender is predicted to hit the milestone of $1bn in annual profits....
...services industry has swung to historic lows....
...Farmers in the continent-sized country say they already preserve large tracts of native vegetation and are expected to be significant suppliers of credits....
...Some airlines, selling air miles to credit card providers, have turned points into a bigger money-spinner than the far more volatile business of flying....
...Noteworthy deals include First Solar’s $700mn tax credit transfer to Fiserv, and an Invenergy-led $580mn transfer to Bank of America....
...Alastair Ryan, an analyst at Bank of America, said he expected lots of long-term Credit Suisse clients to go elsewhere....
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