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...Its new fund — known as Strategic Investment Partners V — plans to buy risky debt, including junior loans and convertible bonds, as well as preferred stock....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...Chang’s and business technology provider Computer Services Inc....
...The recovery in global corporate bond and loan markets began after the Federal Reserve signalled it sees a path to cutting interest rates later this year....
...In the pre-2008 world of “reserve scarcity”, the Fed influenced credit conditions by tweaking the (low) supply of reserves in the overnight federal funds market....
...Delinquencies in credit card and commercial real estate loans were on the rise, the FDIC said, and were now at the highest level in almost a decade....
...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...
...Lyft, the ride-hailing company, raised $460mn the week after its financial results prompted a 35 per cent share price rally....
...This is something the UK regulator, the Financial Conduct Authority, is now looking at....
...(In prior statements, officials only cited credit conditions, not financial.)...
...In 2009, Mnuchin led a group of private equity investors that bought IndyMac, a mortgage lender that failed in the 2008 financial crisis, from the Federal Deposit Insurance Corporation....
...Icahn later became a vocal critic of a federal mandate to mix biofuels into petrol supplies or buy credits to make up the shortfall, a stance which attracted controversy when he briefly served as a special...
...And don’t miss Antoine and Brooke’s profile of Ogunlesi, who rose to head investment banking at Credit Suisse before founding GIP in 2006....
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...Citi’s quarterly results were the worst since the end of 2009, when it was still emerging from the financial crisis....
...Those programmes tend to put a bid under bonds, because they favour the use of bonds as collateral against the Fed’s credit,” he said....
...The FT profiles the Nigerian born dealmaker, who before becoming a top executive at Credit Suisse, clerked for Thurgood Marshall....
...That’s what we missed: how the policy response to the regional banking crisis stabilised the banking system, which allowed a pretty sharp V-shaped recovery....
...“The game-changer is a short-term, risk-free rate north of 5 per cent,” said Nate Geraci, president of financial adviser The ETF Store....
...IAG and Tokio Marine are among those being pursued by Greensill creditors, including Credit Suisse, in Australia’s federal court in a test case that will decide whether insurance policies that the collapsed...
...A version of this article was first published by Nikkei Asia on February 27. ©2024 Nikkei Inc. All rights reserved....
...Credit ratings are essential to this, particularly when financial stress is high, as it is now....
...The returns on offer in private credit were “unprecedented”, Zelter added....
...“Fundamentally, the biggest single driver of consumer credit is the labour market.” Additional reporting by Brooke Masters...
...Similarly, the problems at Credit Suisse were also evident well before it collapsed in March....
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