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...Other investment outfits inside Brookfield’s credit group include European credit manager LCM Partners, a stake in music royalty group Primary Wave, and a technology-focused lender called Pinegrove, in which...
...It’s also more than an entire Volkswagen, or Stellantis, or Ferrari....
...But it is department stores, rather than lenders, that may have most to lose as the credit cycle sours. The biggest of these — Macy’s, Nordstrom and Kohl’s — do not own their credit card portfolios....
...But what if BYD, mostly known for its affordable EVs, wants not only to cut into Tesla’s market share, but to challenge the world’s two biggest automakers, Toyota and Volkswagen?...
...They can also charge different prices to consumers based on which credit card they use. Credit card holders accustomed to fancy perks are in for a rude awakening....
...Volkswagen reported a 154 per cent year-on-year increase in its BEV order book in Europe in the first quarter....
...The retail segment of Inchcape, which has partnerships with brands such as Audi, BMW, Volkswagen and Toyota, contributed to 18 per cent of its total revenue in 2023....
...The move by Fitch, which maintained the country’s A plus credit rating, follows a similar outlook downgrade from rival Moody’s Ratings in December....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...Job moves Credit Suisse’s final chief executive Ulrich Körner is set to leave UBS in the coming weeks....
...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....
...By September 2023, Weightman began assembling a private credit team, said Corinthia....
...And in recent years, the securitisation market has become a welcoming home to deals backed by everything from music rights to software companies’ private credit loans....
...Likewise, the technology can offer personalised financial advice to Credit Karma users and help generate marketing content for customers at MailChimp....
...If the plans had been shelved or pared back in ambition, Tesla — which once aimed to grow to the size of Toyota and Volkswagen combined by 2030 — would for now remain a more modest manufacturer than expected...
...The launch is also a fresh stimulus for the nascent carbon credit market. The Intercontinental Exchange, Nasdaq and other exchanges have all launched products for carbon credit trading....
...Volkswagen this week announced that it may adopt Tesla’s North American Charging Standard. The German car company’s move matters....
...The figures, which are worse than expected, demonstrate the scale of the challenge facing Aston’s incoming chief executive, Adrian Hallmark, who has been poached from Volkswagen’s Bentley and will start...
...As evidence that foreign carmakers are realising the advantages, he points to Volkswagen’s $700mn tie-up with Chinese rival Xpeng last year....
...Rivals Ford, BMW and Volkswagen do not come close to that eye-watering multiple....
...“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....
...He Xiaopeng, chief executive of Xpeng, said the Volkswagen-backed company would add 4,000 staff and invest Rmb3.5bn ($486mn) in autonomous driving and artificial intelligence technologies....
...Then came a private credit fund....
...Tax credits on electric car purchases in the US just became much harder to score....
...Those close to the group give credit to Myhren, who reports directly to chief executive Tim Cook: Apple has topped Interbrand’s Best Global Brands every year since Myhren joined in 2016 and has won 105 Cannes...
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