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...The retailer said there were levers it could pull to offset this, such as growing its co-branded credit card business....
...Their high-margin business model remains intact. Visa and Mastercard set interchange rates, which can average between 2-4 per cent of the transaction amount. But they only get a small slice of this....
...But equity and credit investors failed to perceive this difference three years ago. For 15 months, Carvana has been steadily cutting back more than $1bn in annual overhead costs....
...Job moves Credit Suisse’s final chief executive Ulrich Körner is set to leave UBS in the coming weeks....
...Rob Beard, chief legal officer, general counsel and head of global policy at Mastercard, said: “This agreement brings closure to a long-standing dispute by delivering substantial certainty and value to business...
...Barings added that Corinthia, which was founded by former real estate executive Paul Weightman in 2022, continued to contact other employees within its private credit business in the days that followed....
...Likewise, the technology can offer personalised financial advice to Credit Karma users and help generate marketing content for customers at MailChimp....
...For connoisseurs of the unique form of abstract art that adorns modern-day bond prospectuses, here’s the structure diagram: Writing margin loans against paintings is not a particularly new business line...
...That’s more than generous for a business the CEO talks about as a legacy sideline....
...the ripples from the banking crisis in the US last year and the collapse of Credit Suisse....
...Chief among them: the airline’s long-standing credit card deal with American Express....
...Then, GLP-1 anti-obesity drugs hit the market, long-time spokesperson and board member Oprah Winfrey announced her departure, and the company’s credit rating was downgraded....
...One scoop to start: Apollo has sold a stake in the lending business it acquired from Credit Suisse last year shortly before the Swiss bank’s shotgun rescue by UBS, securing a multibillion-dollar investment...
...WW has attractive, long-term debt agreements with no maturities due before 2028, $109mn of cash as of the end of 2023, and an undrawn $61mn revolving credit facility....
...“When you are as large as Apple . . . mediocrity of action creeps into every aspect of your business.”...
...However, advisers warn that it could lead to a concentration of business among the largest LDI managers, as they each negotiate eligible collateral....
...Berkshire also has an $18bn credit line with National Indemnity, allowing it to borrow billions of dollars should Buffett need to move quickly to tap capital....
...Even its highly lucrative credit card business — which according to one analyst estimate accounted for almost half of group operating income in 2022 — is looking wobbly amid rising delinquency and a proposed...
...It was lucrative business, until rates started rising. Suddenly, banks were nursing losses from “hung loans”, stillborn debt stuck on the banks’ balance sheets....
...Gleacher Shacklock, a boutique investment bank, has appointed Anthony Hartley as a partner to build out its healthcare business. He was previously at Citigroup....
...(Before any DD reader emails saying we should credit Apple to Combs or Weschler, we should underscore — we have! — but just the portion our analysis showed they held....
...Midway through May 2023, the group signed a $200mn four-year credit facility with a group of banks....
...Tesla’s business — well, the bit that sells cars rather than hype — has been visibly in trouble for more than a year....
...As our Alphaville colleague Robin Wigglesworth sarcastically noted earlier this week: “In a radical break from their business model of paying fines, lobbying and advising CEOs how to wreck their careers...
...Kassan charged UTA for private jet flights, it said, that were “personal in nature and had no rational business purpose . . . in short, Kassan erased any line between his personal and business expenses”....
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