MCLEAN, Va.— A bigger buffer against loan losses weighed on Capital One Financial Corp.' s third-quarter earnings. The McLean, Virginia- based company said Thursday that it had profit of $1.08 billion, or $1.86 per share. Analysts expected $5.54 billion, according to Zacks Investment Research.» Read More
NEW YORK, July 25- A former middle manager at Citigroup's Banamex unit in Mexico denied he was involved in abetting a corporate loan fraud involving oil pipeline maintenance company Oceanografia.
Despite dire predictions that China faced a slew of defaults, few mainland borrowers have welshed amid various stripes of government intervention.
MEXICO CITY/ NEW YORK, July 21- Preliminary findings of a probe by Citigroup's Mexican unit, Banamex, into how it lost more than $500 million in a corporate loan fraud differ markedly from the results of a separate investigation by the Mexican banking regulator.
NEW YORK, July 18- Citigroup Inc has about $280 million in loans tied to commodities in two Chinese ports which are at the center of a probe into possible fraud, a senior executive said on Friday, becoming the first U.S. bank to disclose its potential exposure.
The eruption of conflict earlier this year over Ukraine's borders and subsequent economic sanctions against Russia has caused a sharp drop-off in corporate debt issuance from Eastern Europe, including Russia, and massive capital flight from that country.
LIMA, July 17- Brazilian construction firm Odebrecht plans to build a $5 billion natural gas pipeline in Peru by 2018, more than a year before a deadline, and it is now in financing talks with global banks, an executive with the firm said Thursday.
LONDON, July 17- The chief executive of corporate finance firm Perella Weinberg is to join the board of peer-to-peer loan company Funding Circle, in a major coup for the small business lender as it builds up its U.S. presence.
LISBON, July 16- Portugal Telecom has agreed to revise terms of a merger with Brazil's Oi to reflect a lower valuation of the Portuguese company after a holding company of the troubled Espirito Santo family failed to repay a $1 billion loan.
SAO PAULO, July 15- Itaú Unibanco SA borrowed a combined $480 million from a U.S. government-run lender and Wells Fargo& Co, as Latin America's largest bank by market value is increasingly using loan markets to finance clients in Brazil, its home turf.
Rising Asia corporate debt levels may make investors nervous after missed debt payments by a Portugal conglomerate spurred renewed default fears.
LONDON, July 10- European shares edged lower on Thursday, led by Nordic shares after disappointing updates by Norwegian bank DNB and Swedish construction firm Skanska. Norway's largest bank posted lower than expected second-quarter results, partly due to higher loan losses, while Skanska said its Latin American operations showed continued losses.
Emerging market bonds have been hot this year, erasing price falls following last year's "taper tantrum," but some say the rally may be getting old.
July 8- American Apparel Inc has contested a claim made by lender Lion Capital that it has defaulted on a $9.9 million loan, according to a company filing on Tuesday. Lion Capital, a British investment firm, said it had the right to recall the loan when American Apparel's management changed.
July 8- Struggling retailer American Apparel Inc said it received a notice of default from Lion Capital, one of its lenders, following its failure to repay a $10 million loan. Lion Capital had asked American Apparel last month to repay the loan four years early after the retailer ousted its founder and CEO Dov Charney on June 18.
Shadow banking gets tagged as a China risk, but it may be rising globally as low interest rates spur yield chasing and tougher rules constrain banks.
American Apparel is in talks with Standard General to secure funding and replace its board except for two co-chairmen, according to the WSJ.
NEW YORK, July 6- American Apparel Inc is in talks with Standard General, the New York- based hedge fund that controls 43 percent of the company's stock, to secure funding that would let the retailer pay off a $10 million loan and replace its board except for two co-chairmen, the Wall Street Journal reported on Sunday.
SHANGHAI, July 2- A Chinese bank is suing a local government-controlled property investment firm over a bad loan, in a rare public display of a deepening rift between lenders and borrowers in China's murky $3 trillion local debt market.
DOHA, July 1- Saudi Arabian Mining Co has signed a $5 billion financing deal with commercial banks and a state-owned investment fund to back its $7.5 billion phosphate production project in the kingdom, it said in a statement on Tuesday.
Puerto Rico public corporation debt slumped after a new law that allows agencies to restructure their debts sparked fears of an imminent default.