The market for new preferred shares in the US is reopening after a near half-year freeze, raising hopes that this crucial source of capital — especially for the nation’s major lenders — is returning to normal. Money manager Apollo Global Management Inc. is offering $250 million of preferredsBloomberg Terminal on Wednesday, following Goldman Sachs Group … Read more
Country Garden Holdings Co., once China’s biggest real estate developer, is edging toward a default. The distressed builder suspended trading in nearly a dozen onshore bonds Monday, paving the way for debt negotiations and a possible restructuring. Investment bank CICC International Capital Corp. has been engaged to explore optionsBloomberg Terminal for the company, including extending … Read more
August 13, 2023 at 12:00 AM EDT I am old — I turn 60 next year. So I don’t believe in Santa Claus. I don’t believe in the Tooth Fairy. And I am pretty darned skeptical about Jay Powell’s “soft landing,” too. I’ve seen enough Fed chairs over the years to know that managing monetary … Read more
Walt Disney Co., Apple Inc., Amazon.com Inc. and YouTube have expressed interest in streaming local NBA games, potentially taking over rights now held by a broadcaster in bankruptcy, people familiar with the matter said. The media and tech giants are open to acquiring local rights held by Diamond Sports Group, but only if they can … Read more
The economy is getting a boost from Bidenomics and a bulging federal budget deficit, simultaneously fueling hopes the US will avoid a recession while fanning fears it will be stuck with too much debt and too-high inflation. A trio of legislation championed by President Joe Biden – stepped-up infrastructure spending, increased investment in a green … Read more
US employers continued to add workers at a steady, yet more moderate pace, suggesting the economy has scope to avoid a recession despite higher interest rates. The economy in the euro area eked out modest growth in the second quarter, while the Bank of England raised rates and indicated borrowing conditions may remain tight for … Read more
JPMorgan Scraps Recession Call in Latest Sign of Rising Optimism Bloomberg Source link
Supportive: The Bloomberg Close, Asia Edition Bloomberg Source link
All the chatter of late is about the US avoiding a recession altogether. On the surface that seems like a positive outcome. But when you consider the implications of a ‘no landing’ scenario, it becomes less appealing because of the risk that a decent recovery turns into an overheated economy and market. It’s a recipe … Read more
NatWest Group Plc got all the bad publicity last week after a political storm over its dealings with a provocative client led its chief executive officer to resign. But UK rival Barclays Plc was a bigger loser in the stock market and is still among the lowest valued major banks in Europe. Barclays’s second-quarter results … Read more