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  • July 21- Amazon.com Inc is entering the student loan business in a partnership with Wells Fargo& Co, the companies announced Thursday. That's what they want out of this deal, " John Rasmussen, head of Wells Fargo's Personal Lending Group, said in an interview. Wells Fargo charges between 3.39 percent and 9.03 percent for a variable-rate student loan, and from 5.94...

  • HONG KONG, July 21- Chinese companies will consume nearly two-thirds of new credit raised globally by 2020 as the world's second-largest economy leans on the corporate sector to support growth, said a report from S&P Global published on Thursday. The report highlighted China's opaque and ever-expanding corporate sector and rapidly rising U.S. leveraged...

  • China Corp Debt

    Dagong Chairman Guan Jianzhong recommends that Beijing sets up a transparent credit rating system to guide the economy towards sustainable debt.

  • Global Debt Demand

    S&P Global Ratings' Terry Chan says there are growing concerns about high-yield corporate debt in China and leveraged finance in the U.S.

  • July 20- Credit card issuer American Express Co reported a 37 percent rise in quarterly profit, driven by higher spending by its customers and lower expenses due to a sale of its loan portfolio. Net income attributable to common shareholders rose to $2.02 billion, or $2.10 per share, for the second quarter ended June 30 from $1.47 billion, or $1.42 per share, a year...

  • Business debt is projected to hit $75-trillion by 2020, according to S&P Global Ratings.

  • CARACAS, July 20- Oil services provider Halliburton Co on Wednesday reported a $148 million loss as a result of accepting a promissory note in exchange for unpaid invoices linked to Venezuela operations. Halliburton said in a quarterly earnings report that it exchanged $200 million in trade receivables for a promissory note through a financing agreement...

  • SAO PAULO, July 19- Braskem SA said on Tuesday controlling shareholder Odebrecht Serviços e Participações SA has placed the entire stake it has in the firm as collateral for outstanding bank loans, in a sign of Odebrecht's challenging debt refinancing outlook. No details on the accord between Odebrecht Serviços, a subsidiary of Grupo Odebrecht SA, and...

  • July 18- SolarCity Corp, which received a takeover bid from Elon Musk's Tesla Motors in June, said it has raised $345 million in tax equity and also increased its debt facility by $110 million to $760 million. San Mateo-based Solar City had raised $728 million in financing, partly through tax equity, during the first quarter. SolarCity said on Monday that $70...

  • SEATTLE— Laura Jordan came home from work one day to find herself locked out. "This is criminal trespass and theft, and it should be treated as such," said Sheila O'Sullivan, executive director of the Northwest Consumer Law Center. In a friend-of-the-court-brief, the Federal Home Loan Mortgage Corporation— better known as Freddie Mac— highlighted the importance of...

  • July 15- Silent Circle, a Geneva- based pioneer in securing mobile communications, said on Friday it has raised $50 million in a Series C financing round led by Santander Bank as it looks to reinvent itself as an enterprise-focused business. Silent Circle launched an app for encrypting mobile communications in 2012 and a highly secure device known as the...

  • July 15- Wells Fargo& Co, the No. 1 U.S. bank by market value, reported a 3.5 percent fall in quarterly profit as it set aside more money to cover potential loan losses. The bank, which is also the No. 1 U.S. mortgage lender and a major lender to the energy sector, said its net income applicable to common shareholders fell to $5.17 billion in the quarter ended June 30, from $5.36...

  • Corporate New York skyline

    Fully 100 companies have defaulted on debt so far this year, 50 percent more than for the same period in 2015.

  • July 14- JPMorgan Chase& Co is lending more and keeping a lid on expenses to combat the scourge of low interest rates, allowing management to stick to financial goals for the year. JPMorgan, the largest U.S. bank by assets, beat subdued expectations in reporting a 1 percent slide in second-quarter earnings on Thursday, in the face of historically low rates, volatile...

  • July 14- JPMorgan Chase& Co is lending more and keeping a lid on expenses to combat the scourge of low interest rates, allowing management to stick to financial goals for the year. JPMorgan, the largest U.S. bank by assets, beat subdued expectations in reporting a 1 percent slide in second-quarter earnings on Thursday, in the face of historically low rates, volatile...

  • LONDON, July 13- Major British lenders expect household and business demand for loans to slow after last month's vote to leave the European Union, the Bank of England said on Wednesday, in another sign the economy may be slowing. Based on conversations with lenders after the June 23 vote, the central bank said banks expected businesses large and small to delay new...

  • HONG KONG, July 12- China Vanke Co Ltd said it and partners planned to pay Blackstone Group L.P. and other third parties 12.9 billion yuan to acquire some commercial property firms. The country's largest listed property developer said in a statement it would spend about 3.9 billion yuan on the acquisitions but added that the financing of the deal would not entail...

  • July 7- Uber Technologies Inc. has secured a $1.15 billion leveraged loan, a person familiar with the matter said on Thursday, the latest capital infusion for the well-financed ride-hailing company. The Wall Street Journal first reported the amount of the loan on Thursday. The loan comes a month after the company closed a $3.5 billion funding raise from Saudi...

  • MILAN, July 4- The European Central Bank has written to Italy's Banca Monte dei Paschi di Siena asking for a new three-year business plan that would require it to reduce non-performing loans to an adequate level, daily La Repubblica said on Monday. The bank received the ECB's letter the day before Britain voted to leave the European Union, La Repubblica said.

  • AMSTERDAM, July 1- Rabobank said on Friday it had agreed to sell its Athlon car leasing business to Daimler Financial for 1.1 billion euros. Daimler plans to integrate Athlon, which manages a fleet of 250,000 vehicles in 11 European countries, into its own Daimler Fleet Management. Athlon is part of Rabobank's DLL unit, one of the world's largest vendor financing...