Hints and tips:
Related Special Reports
...Munich Re’s main insurance business Ergo provided about €700mn in loans, while Germany’s fourth largest insurance group R+V lent €500mn, more than half of which is not collateralised, according to the documents...
...Rocket Company, owner of Quicken Loans, the country’s largest non-bank mortgage lender, is up 66 per cent since November....
...For 40 years, a 12th-century walrus-ivory carving on loan to the V&A in London has captured the imagination of museum visitors....
...The result has been record low loss rates on loans by the banks. They have been warning that these savings have been steadily dropping and loan losses rising....
...That compares to the $22.3bn and the $28bn made by Quicken Loans owner Rocket Company and UWM, the parent company of United Wholesale Mortgage. Zillow’s loan business is also unprofitable....
...I will not let it become bogged down in fights that fail to recognise the big picture, and what’s at stake,” judge Jones added....
...News round-up Chinese shadow bank Zhongzhi faces $36bn shortfall after ‘management ran wild’ (FT) British tech tycoon Lawrence Jones guilty of rape and sexual assault (FT) Hipgnosis seeks new auditor...
...(The dirty secret of being rich is that you pay less for loans than normal people. It also means someone actually picks up the phone when you call the bank.)...
...It brilliantly illustrates, by counterexample, the decentralised genius required to build a mass-market product; perhaps my nascent Museum of the Economy could arrange a loan from the V&A....
...This sumptuous show will feature rare loans as well as original items of clothing alongside the relevant work of art....
...Under the bankruptcy plan approved by Jones, senior lenders to Revlon will receive 82 per cent of its new equity and the junior lenders the rest....
...Repackaging loans isn’t new....
...Non-banks fund their loans with borrowings, not cheaper deposits. They then sell on the loans, eventually to bondholders, often retaining responsibility for collecting payment....
...US regional banks, brokers and wealth managers are under pressure after the collapse of Silicon Valley Bank last month sparked concerns about unrealised losses in their securities and loan portfolios and...
...China is ‘barrier’ to ending Zambian debt crisis, says Janet Yellen The US Treasury secretary called on China to agree to a rapid restructuring of loans to Zambia, saying Beijing was a “barrier” to ending...
...The bank, founded in 2020, has granted more than £1bn in loans to SMEs....
...Rocket Companies, which owns Quicken Loans, the US’s largest non-bank mortgage lender, has more than halved to $21bn in market value over the past 12 months....
...Non-bank mortgage lenders such as Rocket Companies, which owns Quicken Loans, and UWM, the parent company of United Wholesale Mortgage, have shed more than a third of their value....
...The next highest-ranked loan, the subject of the Citi mishap, has a face value of $900mn. Holders of $400mn of the loan returned their payments to Citi and now consider themselves Revlon creditors....
...Job moves Nick Jones, the founder of private members’ club Soho House, has decided to step back from his role as chief executive after revealing he has been diagnosed with prostate cancer....
...A version of this article was first published by Nikkei Asia on February 14 2023. ©2023 Nikkei Inc. All rights reserved....
...And the cause is the knotty subject of returning works of art that have been on international loan....
...It is not just lower loan volumes. Non-bank lenders generally sell the loans they make to bondholders....
...Let us know what you think at imani.moise@ft.com and sid.v@ft.com. A programming note: FintechFT will take a one-week break in observance of the Easter holiday. The next issue will be April 25....
...What’s missing is an integrated smartphone mount to aid with viewing the app, but you could add one yourself or wait for the V, which will include one....
International Edition