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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...Finma has argued that without writing down the AT1s, nationalising Credit Suisse would have been the only alternative....
...Buying Vizio would give it more ways to sell ads through Vizio’s TV sets and free video streaming service. Walmart’s weak M&A record invites scepticism....
...Put another way, banks have been able to claw back just over half of the $20bn that shifted in favour of private credit firms in 2023. So, have we reached peak private credit?...
...And that tells you somebody — a subprime consumer, somebody who doesn’t have great credit, probably doesn’t have great income — is falling behind on their car loan....
...At Walmart, advertising is already a multibillion-dollar-a-year business....
...Private credit alpha Unhedged went through a period last summer during which we obsessed over what expected returns for private credit might be, and where those returns come from....
...JPMorgan’s emphasis below: How big really is the private credit asset class? Naturally the answer to this question depends upon your definition of what constitutes ‘private credit’....
...In its complaint, the FTC argued — as expected — that the tie-up would lead to higher prices, plus lower product quality and services for consumers....
...These should offer extra returns for holding complexity or illiquidity without adding credit risk....
...and food delivery service DoorDash, highlighting allegations about inadequate treatment of workers, especially those without permanent contracts, including “gig workers”....
...Private credit deals, in addition to generating interest income, also charge management fees to limited partners....
...To stretch the initial analogy further, a few like JPMorgan or Goldman Sachs could claim to be the Walmarts of the industry, but like most bricks-and-mortar retailers, most investment banks trading desks...
...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....
...The group, which is one of the world’s biggest insurers and offers broader financial services including banking, reported operating profits down a fifth at Rmb118bn ($16bn) last year, in results released...
...that the departures would “create a range of issues” for Barings and attaching a term sheet offering to buy the credit business....
...Here’s a fun prediction: The privacy of private credit markets could be eroded by their own success....
...Data published by the Financial Ombudsman Service, an independent public body, on Friday showed that 5,660 complaints about credit cards were lodged from October to December last year, a 76 per cent increase...
...In September credit card spending slowed a bit, subprime consumer delinquencies were rising and a few consumer-facing companies began to warn of weakening demand....
...Less than a year after UBS’s rescue of Credit Suisse, just a handful of Credit Suisse senior managers remain at the enlarged Swiss bank, including former chief executive Ulrich Körner....
...Negotiations between highly indebted IT services company Atos and its lenders are hanging in the balance after one of its biggest creditors, Crédit Agricole, signalled it wanted to walk away....
...Now the problem is customer complaints about its subprime credit card business, via the Financial Ombudsman Service....
...A post mortem by the Financial Stability Board found Swiss authorities would have been capable of shutting down Credit Suisse....
...Conversely, the two companies that saw big headline emissions reductions, Target and Walmart, both relied heavily on trading activities — buying power purchase agreements and renewable energy credits — to...
...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....
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