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...Rohit Chopra, director of the Consumer Financial Protection Bureau, warned about the effects of large deals on competition and financial stability....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...In 2021, he hired three former Goldman partners — Paul Russo, Scott Rofey and Jeffrey Verschleiser — to lead the risk management of the firm’s equity, macro and rates, and credit divisions respectively....
...Last year, it acquired a footprint in credit investments by purchasing Iron Park....
...H&F has invested in business services companies such as advertising agencies, advisory firms and insurance brokerages for decades....
...The merger would reduce the ranks of the top 10 US credit card companies, leaving fewer options for consumers....
...Speciality finance lending looks a promising new seam for private credit companies to mine....
...Last week, it announced it had made a new loan to executive networking company World 50 and while filings show it was already a lender to the company, a person close to Barings described it as a “net new...
...The deal allowed Credit Suisse to cut its holdings of such assets from $75bn to $20bn. Apollo rebranded the business as Atlas....
...Smaller, standalone credit card companies such as Bread Financial look most vulnerable, suggests S&P Global. Subprime borrowers account for about 43 per cent of Bread’s balances last year....
...“This supermarket megamerger comes as American consumers have seen the cost of groceries rise steadily over the past few years,” noted Henry Liu, director of the FTC’s bureau of competition....
...China’s Ant Group is bidding against Citadel Securities for Credit Suisse’s Chinese securities unit, a move that will test Beijing’s appetite for letting the Jack Ma-founded company expand again after a...
...Yet the London-listed company is well placed to deliver growth. Experian is the world’s largest credit bureau, with the heft to expand into adjacent markets....
...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....
...Friday interview: Armen Panossian Credit markets are booming. Investor demand for public corporate credit seems insatiable and private credit is the asset class of the moment....
...Private credit funds stepped into the gap, writing multibillion-dollar loans to companies including Norwegian online classifieds company Adevinta and software maker New Relic, and providing money at a time...
...Still, buyers’ remorse often sets in when the credit card bill arrives....
...It has expanded into areas such as invoice financing and credit cards, and acquired a business that connects customers with professional contractors....
...A Chinese company has made a rival bid, a person with knowledge of the matter said....
...As the name suggests, this is a “business development company”, a weird but fascinating and uniquely American construct....
...This is roughly comparable to average default rates observed in companies that receive a B credit rating from S&P (3.4 per cent) and a B3 from Moody’s (4 per cent)....
...But for those in Miami for JPMorgan Chase’s annual credit conference this week, nothing was more enticing than a panel discussion on liability management exercises....
...Moody’s has cut New York Community Bancorp’s credit rating to junk, citing “high governance risks” and the potential for commercial real estate losses to create “confidence sensitivity”....
...Speaking at an event at Stanford University, he claimed credit for recognising years ago how significant AI would be for all of Google’s products....
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