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Credit Corporate Debt

  • DALIAN, China, June 9- Exiled billionaire businessman Guo Wengui instructed his employees to fraudulently obtain hundreds of millions of dollars in loans, senior employees of his real estate company told a court in China's northeastern Liaoning province. Appearing in the Dalian Xigang People's Court on Friday, the three staff from Guo's Beijing Pangu...

  • DALIAN, China, June 9- Exiled billionaire businessman Guo Wengui instructed his employees to fraudulently obtain hundreds of millions of dollars in loans, senior employees of his real estate company told a court in China's northeastern Liaoning province. Appearing in the Dalian Xigang People's Court on Friday, the three staff from Guo's Beijing Pangu...

  • June 8- Universal Entertainment Corp, a Japanese maker of slot machines, said on Thursday it was investigating what it suspects was an improper transfer of funds by Kazuo Okada, its founder and chairman, to a company he controls. The statement says that all but HK $5 million of the loan was subsequently transferred to Okada Holdings Limited, a company controlled by...

  • June 8- Universal Entertainment Corp, a Japanese maker of slot machines, said on Thursday it was investigating what it suspects was an improper transfer of funds by Kazuo Okada, its founder and chairman, to a company he controls. The statement says that all but HK $5 million of the loan was subsequently transferred to Okada Holdings Limited, a company controlled by...

  • TORONTO, June 8- Canada's main stock index eked out a small rise in morning trade on Thursday, helped by gains for some of the country's biggest banks but weighed down by losses for gold miners. ECN Capital Corp gained 3.3 percent to C $3.77 after the commercial financing company said it would buy U.S.-based Service Finance Holdings LLC for C $410 million in cash.

  • June 8- Canadian commercial financing company ECN Capital Corp said on Thursday it would buy U.S.-based Service Finance Holdings LLC for C $410 million in cash. ECN Capital offers financial services to rail and commercial aviation markets, while privately held Service Finance Holdings lends for home improvement projects in the United States.

  • DETROIT, June 7- Silicon Valley's latest mobility startup, a short-term vehicle leasing company called Canvas, is backed by old-school muscle: Ford Motor Credit Co, the dealer and consumer financing arm of U.S. automaker Ford Motor Co. From its San Francisco base, Canvas started offering variable-term leases with flexible payment options to Bay area customers...

  • WASHINGTON, June 6- The U.S. Education Department has left thousands of student-loan borrowers who were defrauded by Corinthian Colleges Inc in limbo by prolonging a process created by the Obama administration that was supposed to speedily cancel their debts, according to 20 state attorneys general and regulators. In the final months that President Barack...

  • ATHENS, June 6- Greek banks made progress in their fight to cut their exposure to doubtful and non-performing loans in the first quarter, data from the country's central bank showed on Tuesday. But corporate, mortgages and consumer lending that has turned bad during years of crisis still accounts for slightly more than half of the banking sector's overall loan...

  • *Some banks dial down business dealing with Qatar. The comments on Twitter-- Trump's first about the rift between Qatar and major Arab nations over alleged support of Iran and Islamist groups-- came as the leader of Kuwait was to meet in Saudi Arabia to try to mediate the dispute. Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed relations with Qatar...

  • BUENOS AIRES, May 31- Argentine soy exporter Renova received a $410 million loan to build a new grains port and boost capacity at its 20,000- tonne-per-day processing plant by 50 percent, the International Finance Corporation said in a statement on Wednesday. Renova, a joint venture between agroindustrial companies Vicentin and Oleaginosa Moreno Hermanos--...

  • The ethics of owning Venezuelan debt

    Diego Ferro, Greylock Capital Management co-CIO, discusses the backlash against Goldman Sachs for their purchase of Venezuelan bonds.

  • Goldman Sachs investing in a dictatorship?

    Nomi Prins, Demos senior fellow and former Goldman Sachs managing director, and Steve Hanke, Cato Institute senior fellow and former advisor to former Venezuelan president Caldera, discuss Goldman Sachs' controversial purchase of Venezuela's state-owned oil company bonds as the country's economy falters.

  • A protester gestures in front of police during an opposition march in Caracas, Venezuela, on Wednesday, May 11, 2016.

    CNBVC's Wilfred Frost reports the blowback for Goldman Sachs after buying $865 million of corporate debt in Venezuela's state-owned oil company.

  • CARACAS, May 30- Goldman Sachs Group Inc has confirmed it bought Venezuelan bonds after being excoriated by the country's opposition for financing the embattled government of President Nicolas Maduro, who is facing sustained protests. The president of the opposition-led Congress accused the bank of financing "dictatorship" after the Wall Street Journal...

  • MUMBAI, May 29- Indian mobile carrier Reliance Communications' shares and bonds resumed their slide on Monday as concerns over its heavy debt load were reignited after a fourth-quarter loss that sent the company to its first full-year loss. Banking sources told Reuters that the company is running behind on some loan repayments, though Reliance-- backed by...

  • MOSCOW, May 26- Russia's biggest bank Sberbank will provide no new financing for indebted food and retail company Agrokor until the lender has reached an understanding with the Croatian government, Sberbank's chief executive said on Friday. Sberbank CEO German Gref said cooperation with the Croatian government had so far been "not simple."

  • A decline in loan demand could signal weakness in the economy but regulators will not know for sure until later in the year, said Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation. James Chessen of the American Bankers Association said industry had expected President Donald Trump might use the tax code to stoke investment but those...

  • Chinese flag

    Moody’s has downgraded China rating to A1 from Aa3, with a stable outlook.

  • Westinghouse, a unit of Japan's Toshiba Corp, filed for bankruptcy in March following billions of dollars in cost overruns at two nuclear power plants it designed and is constructing in Georgia and South Carolina. An attorney for Westinghouse said in U.S. bankruptcy court in New York that cash from the loan would allow the company to complete its business plan...