/cloudfront-us-east-2.images.arcpublishing.com/reuters/SZJDRXXH6NOJBFDGSWHHDD3WMQ.jpg "PacWest shares extend recovery on sale of real-estate lending unit")
May 24 (Reuters) – Shares of PacWest Bancorp (PACW.O) climbed 6.4% in premarket trading on Wednesday after the U.S. mid-sized lender agreed to sell its property lending unit in the second asset sale this week to bolster its balance sheet. The stock has nearly tripled in value to close at $7.38 on Tuesday since hitting … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/RUYWPG35TVOOVMXYBDPJFPE4S4.jpg "PacWest shares extend gains on .6 bln real estate loan sale")
May 23 (Reuters) – PacWest Bancorp’s (PACW.O) shares rose nearly 13%, extending gains from the previous session driven mostly by news that the lender would sell $2.6 billion worth of its loan portfolio to bolster its finances. The stock was trading up at $7.06 on Tuesday, helping to lift the shares of other regional lenders … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/TEKYL336DFMYLBFJ3CTM2N4FR4.jpg "Standard Chartered CEO: Credit Suisse sale to UBS was ‘surprising’")
DOHA, May 23 (Reuters) – Standard Chartered CEO Bill Winters on Tuesday said the sale of Credit Suisse (CSGN.S) to UBS (UBSG.S) was “surprising” given the “unusual” terms of the deal, which prioritised shareholders over bondholders. “The conclusion was very surprising to me, in terms of the way that the bank was resolved through this … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/B54IQXHT75O3DM4DS7DXNAS6HI.jpg "PacWest shares jump after .6 bln real estate loan sale")
May 22 (Reuters) – Shares of PacWest Bancorp (PACW.O) jumped on Monday after the troubled regional lender announced that it had agreed to sell $2.6 billion worth of real estate construction loans at a discount in a bid to improve its balance sheet. PacWest’s stock rose nearly 20% on the deal, giving the Los Angeles-based … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/SL6TL5UPHZM67OBSMR6X6QGLSI.jpg "Britain lowers stake in NatWest with .6 bln share sale")
LONDON, May 22 (Reuters) – British state-backed bank NatWest (NWG.L) has agreed to buy 1.3 billion pounds ($1.6 billion) worth of its shares back from the government, as it edges closer towards private ownership 15 years after it was bailed out in the global financial crisis. The deal will reduce the government’s stake in the … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/ZQSOBXUZ4NMRNAGARAAS5GWJK4.jpg "Australia hits buy-now-pay-later sector with consumer credit law")
BNPL providers must carry out background checks before lending Must notify customers when credit limits increase Zip COO: Change would mean “business as usual” SYDNEY, May 22 (Reuters) – Australia said it would regulate buy-now-pay-later services as a consumer credit product under new laws, forcing BNPL providers to carry out background checks before lending in … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/SUSX7O5CCBOHFMQRPO26DGBR5E.jpg "Sen. Warren seeks details on ‘troubling’ sale of First Republic to JPMorgan")
WASHINGTON, May 18 (Reuters) – U.S. Senator Elizabeth Warren is questioning federal bank regulators on their decision to sell First Republic Bank to the nation’s largest bank, JP Morgan Chase. In a letter sent to the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation Wednesday, Warren said the deal was “deeply … [Read more…]
/cloudfront-us-east-2.images.arcpublishing.com/reuters/QARLOYIZDRIABM6THJXPWZ3HXY.jpg "Pet food manufacturer Alphia explores sale – sources")
NEW YORK, May 17 (Reuters) – Alphia is exploring options including a sale that could value the private equity-owned pet food manufacturer at over $1 billion, according to people familiar with the matter. Alphia, which is owned by J.H. Whitney & Co and was formed out of the merger of premium pet food manufacturers C.J. … [Read more…]