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...Instagram’s monthly active users reached 1.47bn, with a rise of 13mn in the final quarter of 2023, according to Sensor Tower....
...Canary Wharf still has to tackle a November maturity on £564mn in loans tied to 1-5 Bank Street, an office tower home to SocGen and EBRD....
...The Wharf’s large office towers have fallen out of favour with some tenants since the Covid-19 pandemic. However, other big tenants have stayed put....
...But while the cancellation marks an admission of that failure, it comes with no attempt at reform. Progressives own the ivory tower, and 2024 should see a conservative assault on it....
..., for defaulting on a $235mn mezzanine loan....
...All the while, the tower was starved of investment. Burton Resnick, another developer, bought it in 1989 for $77mn, and — with a $50mn loan from Citicorp — began renovations. But it was a disaster....
...the deal: DBRS’s pre-sale report includes several handy pie charts breaking down the type of artwork backing these loans: The vast majority of the artwork backing the loans is also held in storage facilities...
...The Treasury did not specify the terms of this particular loan....
...At $170bn, its market valuation towers over that of Goldman Sachs, Morgan Stanley and Citigroup. Intuit is best known for its small-business accounting and DIY tax-filing software....
...The focus of EU regulators is on Apple’s control of its App Store, which netted the company some $27bn in commission fees in 2023 alone, according to Sensor Tower estimates....
...Affordability varies between states, too: Louisiana, Mississippi and Oklahoma all had credit-card-debt-to-median-income ratios of more than 10 per cent compared with the least stretched states of New Hampshire...
...Bank of America, Barclays, Citigroup, Jump Trading, JPMorgan Chase, Morgan Stanley, Tower Research Capital and Wells Fargo are also investing in FMX....
...The $500mn in funding earmarked for an SSAB commercial-scale steel plant using hydrogen in Mississippi is one of 33 deals by a new agency set up under the Department of Energy, as part of the Biden administration...
...JPMorgan paid a rate of 2.85 per cent, up from 1.85 per cent in the prior-year period. Higher funding costs can be offset by stronger loan growth. But high rates can also stymie demand for loans....
...It concluded that, in becoming a party to the loans, LLC5 had a main purpose of obtaining a tax advantage....
...*Sadly, CR didn’t specify which loan this was. And borrowers (annoyingly) can be stingy about loan doc access....
...On Wednesday, Ted Miller of Boots Capital Management sued Elliott and the board of Crown Castle, the cell phone tower operator, over a December settlement the company struck with Paul Singer’s firm....
...The trouble is, Croker has a cash-flow problem, having blown a fortune on a skyscraper that looms over the city, the symbolism as hard to miss as the tower itself....
...It’s more that leveraged buyouts don’t work so well when the cost of debt doubles. From 2020 to 2022, debt-to-EBITDA multiples on new LBO loans averaged between 6.9x and 7.1x....
...and 40 Wall Street in loan applications....
...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...
...Lender Silverstein Capital Partners initiated foreclosure procedures against Stern’s company, JDS Development Group, for defaulting on a $235mn mezzanine loan. What next for the polarising tower?...
...- including for the Willis Tower - can be extended with no performance test....
...Those towers rebounded quickly after the crisis passed, and then soared in value....
...We at Alphaville Towers are suckers for investment firms talk about good vintages....
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