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...They can also charge different prices to consumers based on which credit card they use. Credit card holders accustomed to fancy perks are in for a rude awakening....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...By September 2023, Weightman began assembling a private credit team, said Corinthia....
...The launch is also a fresh stimulus for the nascent carbon credit market. The Intercontinental Exchange, Nasdaq and other exchanges have all launched products for carbon credit trading....
...“As a concept, credit-backed gilt repo is really exactly the same as having credit-backed swaps,” said Simeon Willis, chief investment officer at consultancy XPS Pensions....
...The lack of deals and an avalanche of money that has poured into credit markets is beginning to relieve headaches across the private equity world....
...And there are few hotter fads in finance today than private credit. What artificial intelligence is to tech, private credit is to Wall Street....
...That trend holds more broadly, reports Bloomberg: Blackstone Inc. recently sought a $250 million loan at a rate of around 4.75 percentage points over the US benchmark to finance its planned purchase of...
...Last week, it became the first to take advantage of a feature of the so-called “Section 45x” programme which allows it to sell the credit for immediate proceeds....
...rule that could cap the amount of late fees credit cards can charge consumers....
...“A very strong labour market means, all else equal, strong consumer credit,” Barnum said....
...🔥 🔥 🔥 While we can understand credit managers finding themselves making the best of a bad situation in a distressed exchange refinancing, buying these things off-the-shelf is not for the faint-hearted...
...A new owner solves the problem of the junk credit rating instantly and, Kelly believes, the mark-to-market losses on the loan portfolio are unlikely to be so large as to make a sale impossible....
...In December, for the first time, a proposed loan secured against the small shops’ payments was given a preliminary “A” grade credit rating....
...Interchange fees are levied by Visa and Mastercard on behalf of lenders for debit or credit card payments carried out through their network....
...In 2008, Blackstone acquired GSO Capital, a credit manager with $10bn in assets managed. Today, Blackstone has $300bn in credit assets, even as most of the original GSO brass have long departed....
...But they will not stop a real credit cycle from eroding the high returns that private credit has enjoyed in recent years....
...At Credit Suisse, Ogunlesi forged the connections that later helped GIP succeed....
...The statement followed a downgrade from rating agency Moody’s on Tuesday, which cut the bank’s overall credit rating to junk....
...From Bloomberg overnight: Citi Is in Talks to Start New Private Credit Strategy by Early 2024 Citigroup Inc. is in discussions to start a new direct-lending strategy by early January, the latest in a series...
...Less than a year after Credit Suisse finally succumbed following a decade of crises, Switzerland has a new scandal-hit lender....
...It cites examples of Kassan using the fund to pay for an apartment for his personal driver, and allowing his wife to have a company credit card “so she could shop for extravagant luxury goods”....
...Bond yields have “come down enough from their peak that we see demand [from companies and households] for credit going forward”....
...Indigo is one of several companies that have sprung up to help farmers make money selling soil carbon credits on the voluntary markets....
...You, a rube like Alphaville, may have noticed the looming economic downturn and think it’s a bad time to be lending to fast-growing but asset-lite Vapourware Inc owned by investment firms FaceRip Street...
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