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Credit Corporate Debt

  • NEW YORK, July 19- After Morgan Stanley's wealth management business reported record quarterly revenue and hit the high end of its profit margin target on Wednesday, analysts wanted to know how sustainable those results are. Rising stock markets, another Federal Reserve interest rate increase and strong loan demand helped the business generate $4.2 billion...

  • *Q2 provisions for credit losses fall 65.3 pct to $17 mln. July 18- Regional bank holding company Comerica Inc reported a better-than expected quarterly profit, helped by higher net interest income and lower expenses. The Dallas- based bank, however, cut its loan growth forecast for the year.

  • *UAE banks reluctant to take part for political reasons. DUBAI/ DOHA July 16- The refinancing of a $1 billion loan by Doha Festival City, a retail and hospitality complex in Qatar, has been indefinitely postponed as a diplomatic crisis deters regional banks from doing new Qatari business, bankers said. But Saudi Arabia, the UAE, Egypt and Bahrain cut diplomatic and...

  • TORONTO, July 14- Canada's fund managers are set to plow more money into shares of cyclical, industrial and technology companies as the Bank of Canada hikes interest rates, and to allocate a greater share of their bond portfolio to short-term corporate debt. The Bank of Canada raised interest raised interest rates on Wednesday for the first time in seven years.

  • Executives at big banks warned in recent weeks that trading revenue for the quarter would be down from a year earlier, when client trading surged around UK's Brexit vote. The bank's net income rose 13.4 percent to $7.03 billion in the second quarter ended June 30. 1/ 8 http://bit.ly/2tQ630n 3/ 8. Excluding a gain from a legal settlement, the company earned $1.71 per...

  • *Ethnic Hungarians in Serbia buy houses, machinery using grants. CANTAVIR, Serbia, July 14- Antal Kracsun was about to convert a barn next to his house into a pigsty to make ends meet, when a Hungarian government grant gave his small welding business in northern Serbia a shot in the arm. More than one million ethnic Hungarians live in neighbouring Serbia, Romania,...

  • The telecoms firm took-out a $1.2 billion loan four years ago from 13 local lenders to refinance an existing debt and expand its mobile network, but it struggled to repay due a currency crisis and recession in Nigeria. Banks involved in the loan deal include: Zenith Bank, GT Bank, First Bank, UBA, Fidelity Bank, Access Bank, Ecobank, FCMB, Stanbic IBTC Bank and Union Bank.

  • The telecoms firm took-out a $1.2 billion loan four years ago from 13 local lenders to refinance an existing debt and expand its mobile network, but it struggled to repay due a currency crisis and recession in Nigeria. Banks involved in the loan deal include: Zenith Bank, GT Bank, First Bank, UBA, Fidelity Bank, Access Bank, Ecobank, FCMB, Stanbic IBTC Bank and Union Bank.

  • *Altice's key European operations in France and Portugal. Altice, a holding company based in the Netherlands, has expanded rapidly through a series of debt-financed buyouts in the United States and Europe. It owns France's second-biggest telecoms firm SFR Group and Portugal's biggest.

  • WILMINGTON, Del., July 12- An attorney for Elliott Management on Wednesday complained to a bankruptcy court judge that the owner of Texas's largest power distribution business did not provide the investment fund with information needed to line up financing for its offer of more than $18 billion to buy the company. Instead, Energy Future Holdings Corp, the...

  • *Firm part of Japan- led consortium for world's No. 2 NAND maker. Toshiba's talks with the Japan government-backed consortium chosen as preferred bidder have stalled due to what sources say are proposals by SK Hynix that its financing be done via convertible bonds- a step that would provide it with a path towards an equity interest. The preferred bidder group...

  • NEW YORK, July 12- Wells Fargo& Co is scaling back and remolding its auto lending business in response to growing stress in the market, as well as a bank-wide push for more centralized risk controls. Wells, which was the No. 2 U.S. provider of auto loans less than a year ago, has already cut quarterly originations by nearly 30 percent over the nine months leading into...

  • The joint venture between CIT Bank, a unit of CIT Group Inc and Allstate, known as CIT Northbridge Credit LLC, will provide revolving and term loans from $15 million to $100 million, the bank said.

  • ABU DHABI, July 10- Abu Dhabi's Etisalat has terminated its management agreement with its Nigerian arm and given the business time to phase out the brand in Nigeria, the chief executive of Etisalat International told Reuters on Monday. Nigerian regulators intervened last week to save Etisalat Nigeria from collapse after talks with its lenders to renegotiate...

  • WASHINGTON, July 6- More than one-third of U.S. states on Thursday sued the U.S. Education Department and Secretary Betsy DeVos over the recent suspension of rules that would have swiftly canceled the student-loan debt of people defrauded by Corinthian Colleges Inc and other for-profit schools. Massachusetts, 17 other states and the District of Columbia said...

  • WASHINGTON, July 6- More than one-third of U.S. states on Thursday sued the U.S. Education Department and Secretary Betsy DeVos over the recent suspension of rules that would have swiftly canceled student-loan debt of people defrauded by Corinthian Colleges Inc and other for-profit schools. Massachusetts, 17 other states and the District of Columbia said in a...

  • WASHINGTON, July 6- More than one-third of U.S. states on Thursday sued the U.S. Education Department and its secretary, Betsy DeVos, over a recent decision to suspend rules intended to speedily cancel student-loan debt of people defrauded by for-profit Corinthian Colleges Inc and others. Massachusetts, 17 other states and the District of Columbia said in a...

  • WASHINGTON, July 6- More than one-third of U.S. states on Thursday sued the U.S. Education Department and its secretary, Betsy DeVos, over a recent decision to suspend rules intended to speedily cancel the student-loan debt of people defrauded by for-profit Corinthian Colleges Inc and other firms, according to the state of Maryland.

  • Jia Yueting, founder and chief executive officer of LeEco speaks at the 2017 Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Tuesday, Jan. 3, 2017.

    Cash-strapped LeEco's CEO Jia Yueting has pledged in an open letter to take full responsibility and repay all debts.

  • LAGOS, July 4- Nigeria's central bank and its telecoms industry regulator have intervened to save the country's fourth largest telecoms firm from collapse after talks with local banks to renegotiate a $1.2 billion loan failed, a regulatory source said on Tuesday. As a result the company has appointed the central bank's deputy governor Joseph Nnanna as...