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...are set to take control of the company when the almost year-long bankruptcy process wraps up in July and are planning to install a fresh management team to oversee a turnround as it struggles with a slow recovery...
...They function as a place for depositors to safely store their cash and obtain other financial services beyond loans....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...On a conference call with analysts in January, Gray said Breit had “weathered the storm” in real estate markets, but he warned that Blackstone did not expect to see a “V-sharped recovery” in property values...
...“We would acknowledge that this is not going to be some sort of a V-shaped recovery. There are going to be plenty of troubled deals in the market,” added Gray....
...They send it to us because we provide a service, we provide better prices, right? The marketplace has created this unbelievable ecosystem, and it will continue to do it in asset classes around....
...The recovery in global corporate bond and loan markets began after the Federal Reserve signalled it sees a path to cutting interest rates later this year....
...Spending on digital services is particularly buoyant in financial services, experts say, due in part to rising interest rates boosting margins for banks — creating surplus cash for them to spend on IT....
...Greater user choice may sound fine in theory, they argue, but it will challenge fundamental aspects of how services work....
...Laying claim to them would be fraught with legal and political complexity, and the chances of significant recoveries for offshore creditors from the mainland look slim....
...The holding company has some assets in Hong Kong, such as an electric vehicle company and a property services company, that can now be taken over, although they also in turn hold assets in the mainland....
...Equity returns without equity risk is a violation of the laws of financial gravity, which come for all asset classes eventually....
...Most analysts are expecting a return to growth of about 6 per cent in the current fiscal year as services become the main driver of growth and the iPhone 15 sparks a recovery in handset sales....
...Large US asset managers are pinning their hopes on a broad-based recovery in equity markets to lift their businesses after suffering billions of dollars of outflows....
...Alibaba’s restructuring plan was initially met with investor enthusiasm, which faded with growing pessimism about China’s economic recovery....
...India’s traditional IT service providers, such as Infosys and TCS, have made the country a software services exporting powerhouse....
...Revenues from the group’s Aladdin risk management system and other technology services rose 8 per cent year on year to $359mn, above analysts’ expectations....
...I think a lot of people were anticipating a V-shaped recovery . . . People are now waking up the realisation that volatility is going to be normal going forward.”...
...*Ignites Asia is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at ignitesasia.com....
...Amid New Orleans festivities, rainmakers wonder if the party is over for Delaware Delaware, Inc. may be the enterprise now under the most intense activist threat....
...A version of this article was first published by Nikkei Asia on August 21. ©2023 Nikkei Inc. All rights reserved....
...the cost of its use of ecosystem services....
...Denbury, a relatively small oil producer, has built up significant expertise in the “enhanced oil recovery” method of extraction, in which it uses its CO₂ pipelines to pump the greenhouse gas into ageing...
...Both companies have also benefited from expectations of a wider recovery in the memory sector later this year....
...Despite the broad recovery in AT1s, some are warning of a two-tier market in which Swiss debt continues to be seen as highly risky given its regulator’s impromptu decision-making....
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