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...US credit card lender by loans....
...John Doerr, chair of venture capital firm Kleiner Perkins, said last February he would put $10mn into the company....
...The Insolvency Service, an agency sponsored by the business department, said it had launched proceedings to disqualify Greensill from “running or controlling companies” for up to 15 years, the maximum possible...
...The legal proceedings came as the UK’s insolvency service, which is overseen by the business department, wrapped up an investigation into Greensill Capital....
...Now, as the cost of capital goes up worldwide, foreign capital has become more risk averse and has less incentive to go abroad....
...I recently put that question to David Rosenberg, who runs Oaktree’s HY and IG bond business as well as its global credit strategy. Notwithstanding tight spreads, he still likes the trade....
...Over the past decade, capital has steadily flowed into private credit, with a marked pick-up after the pandemic began....
...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....
...In 2016 it invested in credit investment firm Owl Rock Capital. Now known as Blue Owl Capital, it is among the most prominent lenders in credit markets....
...“It’s more that November and December were very strong months in the US, and European credit is playing catch-up this year.”...
...The deal’s ability to win over competition regulators may depend on which business they focus on....
...Together, the banks make up roughly 40 per cent of Atos’s creditors....
...He then moved to Australia, where he became chief executive of wealth manager AMP Capital....
...UBS put the unit, which includes investment banking and brokerage services, up for sale after taking control of Credit Suisse when it collapsed last year....
...And that is one of the really vital things that Capital One is getting through this deal is an at-scale card network that it hopes by bringing its business on to that platform, it can really help grow and...
...A crunch moment for the offset market A couple of years ago that market was booming, with many companies snapping up avoidance-linked carbon credits for a few dollars per tonne or less, and using these...
...The capital return programme was paused when it acquired Credit Suisse. UBS slipped 3 per cent on Tuesday, but has risen almost 50 per cent since the rescue of Credit Suisse....
...These vehicles are called business development corporations, or BDCs....
...So I thought it was a good time to catch up with Armen Panossian, who will become Oaktree’s co-chief executive by March and currently heads up its performing-credit business....
...Unicredit’s deal-hungry chief executive Andrea Orcel might even be encouraged to buy another insurance business....
...Neil Purslow Chief Investment Officer, Therium Capital Management, London WC1, UK...
...Barclays wants to increase its US credit card business, a notoriously difficult and crowded market, as well as its footprint in UK retail following its acquisition of Tesco’s banking business earlier this...
...Mentioned in this podcast: America’s most powerful union leaders have a message for capital Union workers score big pay gains as labour action sweeps US Sign up for the FT’s Swamp Notes newsletter here...
..., to boost defence manufacturing capacity, and to allow innovative start-ups to grow without crossing the Atlantic for funding....
...In other words, private credit is too small and too little leveraged to cause major wider problems. When problems do arise, locked-up capital means that the pain is more contained....
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