Hints and tips:
...After San Francisco-based First Republic suffered a $100bn deposit run, the Federal Deposit Insurance Corporation solicited bids from multiple banks before selling most of the assets to JPMorgan, the largest...
...Right into the 1960s and 1970s, resistance to state rescues still ran deep, whether the supplicant was a major bank, a major corporation or New York City....
...Uninsured depositors were protected in the financial crisis, and they were protected in the S&L crisis after the failure of Continental Illinois in 1984....
...It has “exposed and worsened inequalities, but it’s also an opportunity to change the narrative of capitalism, and redefine the purpose of a corporation”, he adds....
...Other measures could come into play in New York, Oregon, Washington state, New Jersey and Illinois....
...That is a sum equal to about 20 per cent of the overall stock market value of the S&P 500 benchmark of US blue-chip companies....
...Somehow that text has been reread into a right for corporations to spend unlimited money on elections....
...In early 2015, Caesars filed for Chapter 11 protection in Illinois, where it had casinos....
...Since the market hit its post-crisis bottom in March 2009, passive, low-cost equity fund investors have thrived while hedge fund returns have underperformed the S&P 500 by 51 percentage points....
...The market operator Nasdaq has now launched energy contracts that clear at the Options Clearing Corporation, a utility shared by several exchanges....
...Caesars’ total debt of more than $25bn is the legacy of the near $30bn buyout of the Las Vegas casino group, then known as Harrah’s Entertainment....
...HINT: Large depositors and some bondholders got bailed out by the Federal Deposit Insurance Corporation. Continental Illinois 24....
...Those deposits are unlikely to be significant to 888’s revenues until 2015....
...P 500 up +1.36% at 1,675 Bovespa up +2.51% at 46,626 Asia Nikkei 225 up +0.23% at 14,506 Topix up +0.60% at 1,202 Hang Seng down -0.75% at 21,277 Shanghai Composite down -1.62% at 2,039 MSCI Asia ex-Japan...
...As he puts it, the S&P 500 is on its way to becoming the “S&P1” – and note that the price of the S&P has increased 480 per cent since 1990, while its market value has increased 700 per cent, thanks to takeovers...
...But for the 12 months to June 30, TPG VI returned 29 per cent, outperforming the S&P 500....
...“I would argue that the US is an incredibly fragmented market,” says Charlie McNairy, chief executive of International Farming Corporation, an investment manager....
...(Financial Times) OVERNIGHT MARKETS: DOWN Asian markets Nikkei 225 down -21.61 (-0.17%) at 12,327 Topix down -1.48 (-0.14%) at 1,039 Hang Seng down -29.44 (-0.13%) at 23,061 US markets S&P 500 up +5.04...
...Along with First Data, Caesars Entertainment (formerly Harrah’s) and Energy Future Holdings (TXU), Realogy ran into trouble when the economy sputtered....
...Illinois is debating a revised gaming bill....
...(Financial Times) OVERNIGHT MARKETS: LOWER Asian markets Nikkei 225 down -29.13 (-0.33%) at 8,829 Topix down -4.20 (-0.55%) at 754.40 Hang Seng down -74.96 (-0.39%) at 19,321 US markets S&P 500 down -...
...-0.02 (0.00%) at 1,341 DJIA down -48.59 (-0.38%) at 12,605 European markets Eurofirst 300 unchanged 0.00 (0.00%) at 1,039 FTSE100 up +0.41 (+0.01%) at 5,664 CAC 40 down -18.16 (-0.57%) at 3,157 Dax up...
...VF Corporation shares slid 4.4 per cent to $159.46 after reporting lower-than-expected revenues....
...Hong Kong’s Hang Seng index rose 0.6 per cent to 19,039.15 while China’s Shanghai Composite index gained 1.1 per cent to 2,373.31....
...Illinois Tool Works climbed 3.2 per cent to $50.96, after the company said over the weekend it would allow Relational Investors, an activist investment firm, to appoint a board member....
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