Consumer Credit Rose by $18.14 Billion in February; January Revised to Show Smaller Jump Than Previously Expected
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Andrew Sheng, Chief Advisor at China Banking Regulatory Commission discusses the state of China's banking sector, saying the industry continues to grow despite the nation's shadow banking practices.
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HOUSTON-- Crest Financial Ltd., the largest minority shareholder of Clearwire Corp., is offering the wireless operator $240 million in debt financing, which would free it up to consider options beyond a takeover offer from Sprint Nextel Corp..
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NEW YORK-- Ares Capital Corp. said Wednesday that it priced a public offering of approximately 16.7 million shares of its common stock, but did not disclose the price. Shares of Ares Capital fell 62 cents, or 3.4 percent, to $17.41 in afternoon trading. The stock has traded between $14.60 and $18.67 over the past year.
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With the price surging more than 50% in just a few days, even Bitcoin supporters acknowledge that the digital currency is unofficially in bubble territory.
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NEW YORK-- Tableau Software Inc. late Tuesday made public its filing for an initial public offering of stock that could raise up to $150 million. The Seattle- based software company said in its Securities and Exchange Commission filing that the exact number of shares to be sold and their estimated price range have yet to be determined.
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*Corn seed and trait sales jump more than 16 pct. April 3- Monsanto Co, the world's largest seed company, raised its full-year profit forecast on Wednesday after reporting a better-than-expected second quarter driven by strength in its global corn and herbicide businesses.
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HAMPSTEAD, Md.-- JoS. A. Bank Clothiers Inc. said Wednesday its fiscal fourth-quarter net income dropped 36 percent, hurt by lackluster demand throughout the quarter, but still managed to beat Wall Street predictions.
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Mindspeed Technologies Inc. said that it now expects product revenue between about $35.1 million and $35.5 million. Looking ahead, Mindspeed predicts third-quarter product revenue will be about flat when compared with the second quarter. Mindspeed is set to report second-quarter financial results on April 30.
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SAN FRANCISCO, April 3- EBay Inc's payments business, PayPal, already lends money to online shoppers, but it is now starting to finance the merchants who sell on the company's online marketplaces. PayPal has already tested a financing program for eBay sellers in the UK and it plans similar tests in the United States this year, a company spokesman said on Tuesday.
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"Am I a great investor? Not yet," Pimco's Bill Gross writes in an essay titled "Man in the Mirror." The real test of greatness will be adapting to a new era once the epoch of credit expansion comes to a close.
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At car dealers across the United States, loans to subprime borrowers are surging — up 18 percent in 2012 from a year earlier, to 6.6 million borrowers. And it's the Federal Reserve that's made it all possible.
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NEW YORK-- Shares of Global Payments Inc. fell Wednesday after the electronic payments processor reported lower-than-expected fiscal third-quarter results. THE SPARK: For the quarter ended Feb. 28, Global Payments said its net income rose nearly 4 percent to $67.9 million, or 87 cents per share.
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NEW YORK-- ConAgra Foods reported a third-quarter profit that fell shy of Wall Street expectations as the maker of Chef Boyardee and Hebrew National hot dogs booked charges related to its acquisition of Ralcorp and struggled to grow sales for its existing brands.
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*Amazon launched merchant lending business last year. SAN FRANCISCO, April 3- EBay Inc's payments business, PayPal, already lends money to online shoppers, but it is now starting to finance the merchants who sell on the company's online marketplaces.
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NEW YORK-- Taminco Acquisition Corp. is looking to raise up to $300 million from an initial public offering of common stock, $50 million more than it previously expected.
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LOS ANGELES, April 2- Tesla Motors Inc on Tuesday said it was partnering with Wells Fargo& Co and U.S. Bank on a financing product that it says will make its pricey electric sedan accessible to more people. The vehicle's price starts at $62,400 after a $7,500 federal tax credit.
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NEW YORK-- G-III Apparel Group Ltd.' s fiscal fourth-quarter profit jumped 62 percent as the company sold more clothing. It has fashion licenses for brands including Calvin Klein, Sean Jean and Kenneth Cole, as well as licenses with professional sports teams and colleges. G-III said that it earned $8.1 million, or 40 cents per share, for the period that ended Jan. 31.
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DETROIT-- Electric car maker Tesla Motors Inc. says it has joined with two banks to finance a 10 percent down payment on its new Model S sedan. US Bank and Wells Fargo will make loans for the down payment, which eventually would be covered by a $7,500 federal tax credit for electric car buyers.
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If you’re a bull the Fed has been mixing a cocktail that’s blown your socks off. But is the party almost over?
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ATLANTA-- Electronic payments processor Global Payments Inc. said Tuesday that its fiscal third quarter earnings rose nearly 4 percent on higher revenue, but the results still missed Wall Street estimates.