Credit Corporate Debt

  • Jan 16- Bank of America Corp reported better-than-expected fourth-quarter profit on Wednesday as higher interest income and loan growth eclipsed declines in revenue from investment banking and bond trading. The second-biggest U.S. lender's results were underpinned by four interest rate hikes by the central bank in 2018 and a strong job market that kept...

  • Jan 16- Bank of America Corp reported better-than-expected fourth-quarter profit as higher interest income and loan growth eclipsed declines in revenue from investment banking and bond trading, sending its shares up 3 percent. Total net interest income- the difference between what a lender earns on loans and pays on deposits- rose 7.3 percent to $12.3...

  • Jan 16- Pokemon Go creator Niantic Inc said on Wednesday it had raised $245 million in a new round of financing bringing its valuation to nearly $4 billion. The Series C financing round was led by IVP with additional strategic investments from aXiomatic Gaming, Battery Ventures, Causeway Media Partners, CRV, and Samsung Ventures, the company said.

  • The bank, the first United Arab Emirates lender to report quarterly results, made a net profit of 2.39 billion dirhams in the three months ended Dec. 31, 2018, compared with 2.18 billion dirhams in the year-ago period. Emirates NBD, 55.6 percent owned by state fund Investment Corp., and other banks in the United Arab Emirates benefited from a rise in interest rates...

  • Wells Fargo has struggled to regain its footing since sales abuses came to light in that business more than two years ago, when the bank said employees had opened millions of fake accounts in customers' names without their permission. Wells Fargo is also experiencing cyclical pressure in mortgage lending, which was once its main money-maker, and has...

  • Wells Fargo has struggled to regain its footing since sales abuses came to light in that business more than two years ago, when the bank said employees had opened millions of fake accounts in customers' names without their permission. Wells Fargo is also experiencing cyclical pressure in mortgage lending, which was once its main money-maker, and has...

  • Jan 13- PG&E Corp is in discussions with investment banks about a multibillion-dollar financing package to help navigate bankruptcy proceedings, a sign that Chapter 11 filing preparations are intensifying in the wake of potentially staggering liabilities from deadly wildfires, sources said on Sunday. The California utility owner is in touch with large...

  • SAO PAULO, Jan 11- At BM Multimarcas, a used-car dealer on the outskirts of Sao Paulo, owner Santel de Abreu Bernardo can show you jalopies that most big banks would not touch. But when he needs to seal a deal, Bernardo has a go-to option for financing: the Brazilian unit of Spain's Banco Santander. That business helped power Madrid- based Santander through Brazil's...

  • Season Smart, which agreed to be bought by China's Evergrande Health, will now own 32 percent preference shares, down from a previous 45 percent, according to filings. Faraday said in November it was exploring strategic options, including debt and equity financing, two days after its co-founder Nick Sampson stepped down. The company got into a legal tussle with...

  • Dec 28- Sears Holdings Corp Chairman Eddie Lampert submitted a $4.4 billion takeover bid for the bankrupt U.S. retailer, representing its only chance of escaping liquidation and laying off tens of thousands of workers, a spokesman for the billionaire's hedge fund said on Friday. Lampert's bid is backed in part by $1.3 billion in financing from three different...

  • "If you start in your 20s with a couple of reasonable investments, you can't avoid becoming a millionaire," said author Michael Taylor.

  • HONG KONG, Dec 28- The Hong Kong Monetary Authority said on Friday that it had fined the Hong Kong branch of JPMorgan Chase& Co HK $12.5 million and reprimanded it for breaching anti-money laundering and counter-terrorist financing rules. The HKMA also ordered the Hong Kong unit of the U.S. bank to have an independent external adviser prepare a report into...

  • HONG KONG, Dec 28- The Hong Kong Monetary Authority said on Friday that it had fined the Hong Kong branch of JPMorgan Chase& Co HK $12.5 million and reprimanded it for breaching anti-money laundering and counter-terrorist financing rules. The HKMA also ordered the Hong Kong unit of the U.S. bank to have an independent external adviser prepare a report into...

  • NEW YORK, Dec 19- Square Inc, the payments company led by Twitter Inc chief executive Jack Dorsey, is refiling its application with U.S. state and federal regulators for a bank license, the company said on Wednesday. Square is applying with the Federal Deposit Insurance Corp for a special industrial loan company license, that allows nontraditional financial...

  • Dec 18- Citigroup Inc is shuffling its prime brokerage business, according to an internal memo seen by Reuters, amid reports that the unit could lose millions on a bad loan to an Asian hedge fund. Bloomberg earlier reported that Citi faces a loss of up to $180 million related to risky foreign-exchange bets. The business will be led by Chris Perkins, who also oversees...

  • NYSE New York Stock Exchange traders markets

    It's not all about the trade war. Another big market risk flying under the radar could cripple the bull market, says one strategist.

  • LONDON, Dec 12- An era of extraordinarily easy monetary policy in the euro zone is drawing to a close as the European Central Bank is set to announce formally on Thursday that its massive bond-buying scheme will be terminated at the end of this year. The ECB has spent 2.6 trillion euros over almost four years, buying up mostly government but also corporate debt,...

  • Corporate debt in China is an 'enduring problem': Nomura

    China used deleveraging to address the issue of corporate debt, but it is difficult to do so in an "orderly" way, says Rob Subbaraman of Nomura.

  • Federal Reserve Chairman Janet Yellen speaks during a news conference after a two-day Federal Open Markets Committee (FOMC) policy meeting in Washington, September 20, 2017.

    Former Federal Reserve Chair Janet Yellen is worried about excessive leveraged lending and the high level of corporate debt across Wall Street.

  • Dec 10- Travel software platform Travelport Worldwide Ltd said on Monday it will be taken private by affiliates of buyout firms Siris Capital Group and Elliott Management for $4.4 billion. Travelport's headquarters are expected to remain in the U.K.. The private equity firms have secured committed debt financing for the deal from BofA Merrill Lynch, Deutsche...