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Banking, Economy

“ECB’s €500 Billion Payoff Puts Italian Banks in the Firing Line”

“The European Central Bank is about to test the resilience of the continent’s banking industry by making lenders repay about half a trillion euros in cheap pandemic-era loans — in one go… As €476.8 billion of TLTRO loans come due… Continue Reading…

Business

“Bed Bath & Beyond defaults on credit line, warns it can’t pay down debts”

“Bed Bath & Beyond said Thursday it doesn’t have enough cash to pay down its debts and it has defaulted on its credit line with JPMorgan, warning once again of a potential bankruptcy. Shares of Bed Bath plunged Thursday afternoon,… Continue Reading…

Banking, Economy

“Wall Street bankers and traders are in line for the biggest bonus increases since 2009”

“ Wall Street is set to see the biggest bonus increases since the Great Recession after a busy and profitable 2021, according to a report from pay consultancy Johnson Associates. Overall bonuses for investment banking underwriters are forecast to jump… Continue Reading…

Economy

“Hundreds camp out in Oklahoma unemployment lines”

“Even though the unemployment rate dropped to 6.6% in June, the backlog has created unprecedented delays. Oklahoma had approved 235,000 of about 590,000 filed claims by June 21 – a total $2.4 billion payout, far more than in previous years.… Continue Reading…

Economy

Sales Up: “No Line to Board Private Jets, but There Is a Line to Buy Them”

“Mr. Papariella’s clients often look to buy used jets, some decades old, that still perform at a high level but cost less up front, he said. A Gulfstream G4 from 2002 might cost $3 million — far better than $60… Continue Reading…