NEW YORK, Sept 20- New York's attorney general on Thursday sued 10 companies and two executives over their alleged roles in a scam to induce thousands of struggling borrowers into buying student loan debt relief services that they could have received for free. The defendants include Debt Resolve Inc, a Hawthorne, New York- based company that owns some of the other...
NEW YORK, Sept 20- New York's attorney general on Thursday filed a lawsuit accusing several companies of misleading thousands of borrowers into buying student loan debt-relief services that they could have received for free. Barbara Underwood, the attorney general, filed the lawsuit against Debt Resolve Inc, Hutton Ventures LLC and other defendants in a New...
MOSCOW, Sept 17- Baikal Mining Company, operator of Russia's biggest untapped copper deposit Udokan, plans to raise $1.25 billion in project financing from a Russian bank by the start of 2019, its chairman, Valery Kazikayev told Reuters. When Kazikayev was receiving a PhD in Economics from the Moscow Mining Institute in 1976, one of the ideas being researched by...
By Polina Devitt and Diana Asonova. MOSCOW, Sept 17- Baikal Mining Company, operator of Russia's biggest untapped copper deposit Udokan, plans to raise $1.25 billion in project financing from a Russian bank by the start of 2019, its chairman, Valery Kazikayev told Reuters. When Kazikayev was receiving a PhD in Economics from the Moscow Mining Institute in 1976,...
DALLAS— A Texas company has secured a $300 million loan for a proposed high-speed rail project from Dallas to Houston. Texas Central Partners will use the funds from Japanese sources to move forward with permitting, design and engineering, The Dallas Morning News reported. The train would make a 90- minute trip from Dallas to Houston, with one stop near Texas A&M...
Ten years on from the crash of Lehman Brothers that heralded the Great Recession, market watchers are looking for clues as to where the root of the next crisis might lie. Some are pointing to a metric that's now at a record high — risky borrowers' debt-to-cash ratios.
S&P Global Ratings said it had cut by one notch the long-term issuer credit ratings of seven Chinese local government financing vehicles from Chongqing and Tianjin municipalities, and Jiangsu and Hunan provinces, that had issued bonds offshore. Also on Wednesday, Moody's Investors Service said it had downgraded five Chinese non-financial corporate and...
TOKYO, Sept 12- Japan's struggling Pioneer Corp on Wednesday said it had secured up to 60 billion yen in funding from Hong Kong- based fund manager Baring Private Equity Asia. The consumer electronics maker said in a statement it would issue around 50 billion to 60 billion yen worth of stock to BPEA by the end of December. It will receive 25 billion yen in a bridge loan...
TOKYO, Sept 12- Japan's struggling Pioneer Corp on Wednesday said it had secured up to 60 billion yen in funding from Hong Kong- based fund manager Baring Private Equity Asia. The consumer electronics maker said in a statement it would issue around 50 billion to 60 billion yen worth of stock to BPEA by the end of December. It will receive 25 billion yen in a bridge loan...
SHANGHAI/ BEIJING, Aug 30- Industrial and Commercial Bank of China, the world's largest commercial bank, joined its peers in reporting higher first-half profit and a steady bad loan ratio, but flagged trade tensions as a risk to economy. ICBC, like other big state-owned lenders, has been seeing a rebound in business with its diverse revenue sources and strong...
Berlin- based Mitte told Reuters it has raised $10.6 million in a financing round led by Danone Manifesto Ventures, a New-York- based fund set up in 2016 to invest in companies responding to changing consumer tastes for food and drink produced in ways that protect the environment. Backing a company that could lead some consumers to ditch bottled mineral water...
BEIJING, Aug 28- Agricultural Bank of China Ltd and Bank of China Ltd, the country's third- and fourth-largest lenders, reported higher profits for the first half of the year as margins improved and bad loan ratios held steady. The stronger earnings come at a time when China is actively pumping funds into the banking system and rolling out support measures for...
BEIJING, Aug 28- Bank of China Ltd, the country's fourth-biggest lender by assets, posted a 5 percent rise in first-half net profit on Tuesday, supported by widening interest margins and a steady bad loan ratio. Profit was 109.1 billion yuan in the six months ended June 30, up from 103.7 billion yuan a year ago. The first-half figure implies a net profit of 60.1 billion...
The research paper, by the asset management unit of Brazil's largest private lender Itaú Unibanco Holding SA, found that corporate borrowing through bonds and other debt securities will need to grow by between 2 and 4.8 times the current level by 2022 to meet companies' financing needs as banks are compelled to cut outstanding loans. As a result, Brazil's...
The research paper, by the asset management unit of Brazil's largest private lender Itaú Unibanco Holding SA, found that corporate borrowing through bonds and other debt securities will need to grow by between 2 and 4.8 times the current level by 2022 to meet companies' financing needs as banks are compelled to cut outstanding loans. As a result, Brazil's...
HONG KONG, Aug 22- Zai Lab Ltd is planning a Hong Kong float after its Nasdaq debut last year, in what would be the second U.S.-listed Chinese biotech firm to return to the city following an implementation of new listing rules, sources said. Zai Lab is in talks with advisers for a share sale plan in Hong Kong, which is seeking to establish itself as a financing hub for...
A number of companies have recently announced a new benefit: student loan assistance.
That enforcement trend, according to four experts, could benefit Tesla as the company faces an SEC investigation of CEO Elon Musk's Aug. 7 tweet about "secured" financing for a private buyout of the company. I expect Tesla to pay zero, said Georgetown law professor Urska Velikonja, who is engaged in an ongoing analysis of SEC enforcement trends against companies...
Aug 13- Elon Musk on Monday explained what he meant by tweeting "funding secured" to take Tesla Inc private: he is confident a deal can be done but has not yet finalized a plan. What exactly Musk had intended by saying secured has emerged as a potential legal and regulatory minefield for the Silicon Valley billionaire after his unorthodox disclosure on Twitter last...
Aug 13- Elon Musk on Monday explained what he meant by tweeting "funding secured" to take Tesla Inc private: he is confident a deal can be done but has not yet finalized a plan. What exactly Musk had intended by saying secured has emerged as a potential legal and regulatory minefield for the Silicon Valley billionaire after his unorthodox disclosure on Twitter last...
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