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...Gordon is one of the leaders of its North American PE unit, while Marshall is co-head of its European buyout business....
...Merchants are currently able to charge an extra fee for consumers who use American Express cards, but Visa and Mastercard have blocked sellers from doing so for their users....
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...Capital One Financial, which is buying rival Discover Financial Services, is up 50 per cent. Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...Americans have gorged on billions of dollars of credit card debt over the past three years....
...Capital for the loans would come from overseas credit funds and local banks, Arora said....
...Barings, a subsidiary of US life insurer MassMutual, filed on Monday for a temporary restraining order and preliminary injunction against Corinthia Global Management in a North Carolina court....
...Many passengers only fly once a year and thus may not understand how services once included in a traditional airfare now cost extra, or how to navigate an airline’s website to find more pricing information...
...At some point, American politicians will have to grasp this nettle....
...The ascendance of private credit into mainstream finance has reached its logical endpoint: a courthouse in Mecklenburg County, North Carolina....
...The biggest US banks believe American consumers have weathered the Federal Reserve’s cycle of interest rate rises in good shape, but a new poll shows Joe Biden is getting no credit ahead of November’s election...
...Full-service banks such as JPMorgan are built for scale — ie getting as many deals through the door as possible — so there’s only so much impact any one individual can make. That’s intentional....
...Discover is a combined credit card payment network and card-issuing bank. It ranks fourth as a network behind the titans Visa, Mastercard and American Express....
...Another factor driving the growth of ETFs is the active ETF boom, said Bryan Armour, director of passive strategies research for North America at Morningstar Research Services....
...“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....
...American Express trades at six times book value while Capital One is below 1.5 times. Credit card plumbing is arcane but very lucrative....
...“You say you are between a rock and a hard place but you have chosen sides; you have chosen the Saudi side, not the American side.”...
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...American Express Global Business Travel has agreed to buy rival CWT for $570mn in a bet on the continued recovery of business travel....
...Normal service will resume on Monday April 8. ‘What sense is being a billionaire if you’re not a bully?’...
...The legislative dodge undercuts the law’s intent to bolster North American EV manufacturing while upholding its climate change goals by giving consumers more choices to go electric....
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
Americans account for 14% of users but their revenue contribution will be higher
...My wife and I relied on our credit card insurance policies when travelling to the Middle East and North Africa to visit our family....
...What returns to expect from private credit Should M&A return, it could well energise an already frenetic corner of finance: private credit....
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