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  • Freddie Mac to hand $3.9 bln to U.S. Treasury Tuesday, 4 Aug 2015 | 10:12 AM ET

    WASHINGTON, Aug 4- Government-controlled mortgage finance firm Freddie Mac on Tuesday said big gains in its loan guarantee business and its investment portfolio will allow it to cut a check to the U.S. Freddie Mac reported a second-quarter profit of $4.2 billion, sharply up from $524 million in the first quarter. Under the terms of their rescue, Freddie Mac and...

  • SINGAPORE, Aug 3- Noble Group Ltd, Asia's biggest commodity trader, said it has been approached by a number of parties about potential financing and investment options and refuted rumours that it would not be able to fund a $735 million bond redemption due this week. Singapore- listed Noble has been grappling with waning investor confidence this year after being...

  • MOSCOW, July 30- Sberbank CIB, the investment-banking arm of top Russian bank Sberbank, said on Thursday it had organized a syndicated loan for Belarussian potash producer Belaruskali. Sberbank CIB said in a statement the loan was for 550 million euros, for five years and secured by a guarantee from the Belarussian government. It said the credit facility was...

  • The House of Representatives on Monday unanimously approved the Small Business Administration loan program in a bill the Senate had already passed. But the Senate took lightning-fast action to raise the SBA lending limit in less than a day, marking a stark contrast with Congress' protracted battle over another federal loan guarantee agency, the U.S....

  • LONDON, July 28- Cerberus, the private equity firm named after the mythical three-headed dog guarding the gates of Hades, is leading a charge by U.S. investors who are snapping up European loans at knockdown prices. New York- based Cerberus Capital Management has bought more than 27 billion euros of European loans in the last 2-1/ 2 years, acting along with rivals...

  • General Motors decided to replace Ally with its current in-house financing arm, General Motors Financial Co Inc, for subsidized leases on Buick, GMC and Cadillac vehicles, beginning February. The company reported a net income of $182 million, a loss of $2.22 on a per share basis, compared with a year-ago profit of $323 million, or 54 cents per share.

  • SHANGHAI, July 27- The China Securities Financial Corporation returned some of the funds it borrowed from commercial banks intended to stabilise the stock market ahead of schedule, three people in the banking industry with direct knowledge told Reuters. The news comes after Chinese markets posted their worst performance since 2007 on Monday, as investors...

  • WASHINGTON, July 23- The U.S. Small Business Administration said it reached the $18.75 billion cap for its main loan guarantee program on Thursday, forcing it to halt the funding of new loans with more than two months left in the fiscal year. U.S. Senate Small Business Committee Chairman David Vitter, a Republican, told SBA Administrator Maria Contreras-Sweet in a...

  • WASHINGTON, July 23- The U.S. Small Business Administration said it reached the $18.75 billion cap for its main loan guarantee program on Thursday, forcing it to halt the funding of new loans with more than two months to go in the current fiscal year. SBA spokesman Miguel Ayala said the capacity for fiscal 2015 was exceeded by stronger-than-anticipated demand...

  • MUMBAI, July 23- With only a tiny share of the world's fastest-growing major smartphone market, Apple Inc is stepping up its push into India, with a first targeted TV advertising campaign, expanded retail network and promotional financing schemes. For years, India has been a low priority for Apple as spending power is weaker than in China, where the company's...

  • India banks get creative to collect $49B in bad debts Thursday, 23 Jul 2015 | 12:26 AM ET
    India's Reserve Bank Governor Raghuram Rajan (L) speaks with India's Finance Minister Palaniappam Chidanbarum during the opening session of the the G20 Finance Ministers and Central Bank Governors round table meeting on February 22, 2014 in Sydney, Australia.

    Under pressure to cut a $49 billion bad-debt mountain, India's state-owned banks are reversing years of lax recovery efforts with creative collection tactics.

  • WASHINGTON, July 22- The banking arm of Discover Financial Services agreed to pay $18.5 million in consumer refunds and penalties on Wednesday to settle allegations of illegal practices tied to its student loan servicing business, a U.S. regulator said. The Consumer Financial Protection Bureau said that Discover Bank overstated the minimum amounts due on...

  • Executives from both JPMorgan Chase& Co. and Wells Fargo& Co. told investors last week, when posting earnings, that they were increasingly concerned about loans to oil and gas companies. Texas bank Comerica Inc on Friday set aside about three times as much money to cover bad loans as analysts had expected, sending the regional bank's shares lower by more than 6...

  • HONG KONG/ BEIJING, July 20- A plan to raise 100 billion yuan via short-term bills by China Securities Finance Corp, the state-backed institution that provides margin financing and liquidity to the market, has been delayed, four sources familiar with the matter told Reuters on Monday. Reuters could not reach China Securities Finance Corp for comment.

  • A&P, which was founded in 1859 by George Huntington Hartford and George Gilman, began operations as the Great American Tea Co. Its first store, on Vesey Street in Manhattan, sold coffee, tea and spices at low prices, according to its website. The grocer has received debtor-in-possession financing of $100 million from Fortress Credit Corp, court documents show.

  • *China's corporate debt 160 pct of GDP, twice U.S. level. HONG KONG, July 19- Beijing may have averted a crisis in its stock markets with heavy-handed intervention, but the world's biggest corporate debt pile- $16.1 trillion and rising- is a much greater threat to its slowing economy and will not be so easily managed. Corporate China's debts, at 160 percent of GDP, are...

  • HONG KONG/ BEIJING, July 17- China's central bank will inject $48 billion into the country's biggest policy lender, China Development Bank Corp, two sources with direct knowledge of the matter told Reuters on Friday, as China steps up reforms at its policy banks to fight an economic slowdown. Set up in 1994, CDB is responsible for financing China's large...

  • SAO PAULO, July 16- The auction on Friday of a concession to build and operate an estimated 7 billion reais power transmission line in Brazil is not expected to attract many participants, due to limited financing for Brazilian companies, according to consultants and company officials. "It is a lot of money, and since financing in Brazil these days is really scarce,...

  • The bank had been ready to increase Emergency Liquidity Assistance after Athens approved the bailout deal but it first needs to ensure that Greece has the temporary financing to repay a 3.5 billion euro plus interest payment due to the ECB on Monday. Uncertainty over Greece, the longer term viability of the currency block and persistent suggestions from...

  • But it wants first to ensure that temporary financing for the Greek budget is in place and Greece is able to repay a big debt to the ECB on July 20. An emergency funding boost would have helped to restore confidence after Greece was nearly forced from the euro-- a debate that challenged ECB President Mario Draghi's pledge that the currency was irreversible.