Hints and tips:
Related Special Reports
...These debts include mortgages and loans for cars, rental equipment and yachts....
...The business, however, does have a deal with GM’s financial arm that would allow it to borrow up to $4.3bn to buy self-driving cars from GM or for other expenses....
...Cruise later halted its driverless car operations across the country, and GM said it would cut spending on the unit by “hundreds of millions of dollars”....
...The GM unit scored an important breakthrough in early August when California’s public utilities commission granted it and Waymo, Alphabet’s autonomous car company, the right to run full-scale driverless...
...This week GM’s Cruise announced that it would pause all manned and unmanned robotaxi trips....
Company says it needs to ‘rebuild public trust’ and will assess its processes and systems
...GM halted the division’s work and regulators are investigating the case....
...The New York-based securitised products business packaged debts, such as mortgages and loans for yachts, before selling them on as securities....
...Blackstone Mortgage Trust said in an emailed statement: “This report is highly misleading and represents a fundamental misunderstanding of our senior secured lending business.”...
Lossmaking VinFast’s market capitalisation tops $85bn following New York debut
...In the US, Cruise has been racing against Tesla and Waymo, part of Alphabet, to develop robotaxi services, and parent GM has set an ambitious revenue target of $1bn by 2025....
...They have cut lending rates, mortgage rates, business taxes, stock-trading fees and even admission costs at tourist sites; extended EV subsidies; relaxed regulations; intervened in forex markets; and extended...
...In the UK, new data showed mortgage approvals fell more than expected in September, highlighting the continued effect of high interest rates ahead of Thursday’s Bank of England rate-setting meeting....
...For instance, here’s an extract from a filing by Manhattan Bridge Capital, a small Nasdaq-listed mortgage Reit: No Adverse Material Change....
...“Vietnamese EV maker worth more than Ford or GM after US listing,” headlined MainFT. Bloomberg said that the spectacular first-day pop “added $39bn to the net worth of the chairman Pham Nhat Vuong.”...
...McBride praises her “great instincts and engaged leadership”, her aptitude for site selection and conversion, and her skill at recruiting top talent (while hotel GMs who’ve found her management style to...
...That is despite the fact the company is only expecting to produce some 50,000 cars this year — a tiny number compared with the 5.9mn vehicles GM sold last year....
...GM-owned Cruise and Amazon-owned Zoox are both based there, while Alphabet-owned Waymo has been testing there for years....
...KKR’s recent agreement to buy up to €40bn of consumer loans originated by PayPal is one among various efforts by the firm to break into “asset-based” finance — fixed-income products such as mortgages, car...
...There were signs of stabilisation in the UK property market as mortgage approvals rose more than expected in October to a three-month high....
...In those transactions, a pool of assets — such as mortgages, credit card receivables or auto loans — are packaged together, with the interest payments funding new slices of debt that are sold on to investors...
...The new policy covers apps offering personal, payday and peer-to-peer loans, but not mortgages, car loans or credit cards....
...OK, so there was a liquidity problem with SVB and something about mortgage-backed-securities, and fundamental timing mismatches of liabilities....
...Mortgage issuance is going to be down when you double rates. Same thing with auto lending. The one shoe that hasn’t dropped yet are cap rates and debt yields on commercial real estate....
...Meanwhile, industry leaders Cruise, owned by GM, and Alphabet’s Waymo were last valued at $30bn and continue to expand efforts in multiple cities....
International Edition