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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...
...Finma has argued that without writing down the AT1s, nationalising Credit Suisse would have been the only alternative....
...JPMorgan’s emphasis below: How big really is the private credit asset class? Naturally the answer to this question depends upon your definition of what constitutes ‘private credit’....
...Put another way, banks have been able to claw back just over half of the $20bn that shifted in favour of private credit firms in 2023. So, have we reached peak private credit?...
...Private credit alpha Unhedged went through a period last summer during which we obsessed over what expected returns for private credit might be, and where those returns come from....
...Last Friday’s non-farm payrolls for March came in at 303,000 — almost 100k stronger than expected....
...These should offer extra returns for holding complexity or illiquidity without adding credit risk....
...Private credit deals, in addition to generating interest income, also charge management fees to limited partners....
...Investment trusts typically play an important role in the sector, often buying up assets from large developers such as Ørsted or others who can then use the cash to develop new farms....
...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....
...The olive groves and vineyards on our small farm have given rise to our own olive oil and wine brand, Agricola Due Leoni....
...The group, which is one of the world’s biggest insurers and offers broader financial services including banking, reported operating profits down a fifth at Rmb118bn ($16bn) last year, in results released...
...that the departures would “create a range of issues” for Barings and attaching a term sheet offering to buy the credit business....
...Here’s a fun prediction: The privacy of private credit markets could be eroded by their own success....
...Data published by the Financial Ombudsman Service, an independent public body, on Friday showed that 5,660 complaints about credit cards were lodged from October to December last year, a 76 per cent increase...
...EY can do itself a service by dropping its carbon negative boast as part of a far more rigorous climate strategy....
...Negotiations between highly indebted IT services company Atos and its lenders are hanging in the balance after one of its biggest creditors, Crédit Agricole, signalled it wanted to walk away....
...“Inflation has been cooling, but our data shows pay is heating up in both goods and services,” said ADP chief economist Nela Richardson....
...Less than a year after UBS’s rescue of Credit Suisse, just a handful of Credit Suisse senior managers remain at the enlarged Swiss bank, including former chief executive Ulrich Körner....
...Now the problem is customer complaints about its subprime credit card business, via the Financial Ombudsman Service....
...You want me to farm efficiently, greener and for less money? If you’re going to treat me as a business, I will farm like a business.”...
...A post mortem by the Financial Stability Board found Swiss authorities would have been capable of shutting down Credit Suisse....
...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....
...In 2016 it invested in credit investment firm Owl Rock Capital. Now known as Blue Owl Capital, it is among the most prominent lenders in credit markets....
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