Blog

More than $10 billion is waiting to pounce on the ailing real-estate sector, and an $80 million mortgage sale for a trendy Brooklyn hotel could be the first in a wave of hospitality distress

//
Categories
Benefit Street Partners is attempting to selling $80 million of distressed debt it holds against the Williamsburg Hotel in Brooklyn. The sales effort is one of the first signs that lenders of souring hotel property debt could seek to part with troubled loans, handing them off, potentially at a discount, to opportunistic buyers.  Hotel occupancy...
Read More →

UK banks have approved over 1.2 million mortgage payment holidays

//
Categories
This story was delivered to Business Insider Intelligence Banking Briefing subscribers earlier this morning. To get this story plus others to your inbox each day, hours before they’re published on Business Insider, click here. Stay up-to-date with our latest coverage on the impacts of coronavirus on technology, marketing, and the digital economy here. UK banks...
Read More →

Goldman Sachs unpacks a ticking time bomb in the market’s junkiest debt due to the coronavirus — and explains why even the Fed will be unable to avoid it

//
Categories
The amount of high-yield debt that is coming due within two years is at its highest in over a decade, according to Goldman Sachs data. Many of these companies are not sufficiently creditworthy for the Fed to include them in its coronavirus stimulus plan. They will account for much of the jump in credit defaults...
Read More →

‘They’re not calling Warren’: Berkshire Hathaway’s Charlie Munger says ‘frozen’ bosses aren’t seeking Buffett bailouts

//
Categories
Warren Buffett’s Berkshire Hathaway spent billions on corporate bailouts during the financial crisis, but it isn’t fielding many calls for help this time around. “Everybody’s just frozen,” Charlie Munger, Buffett’s longtime partner, told The Wall Street Journal this week. “The phone is not ringing off the hook.” “Take the airlines,” Munger said. “They don’t know...
Read More →

Muse, Ebury, and Salary Finance launch initiatives to help customers affected by the coronavirus

//
Categories
This story was delivered to Business Insider Intelligence Fintech Briefing subscribers earlier this morning. To get this story plus others to your inbox each day, hours before they’re published on Business Insider, click here. Stay up-to-date with our latest coverage on the impacts of coronavirus on technology, marketing, and the digital economy here. Three UK-...
Read More →

IMF warns ‘Great Lockdown’ global recession will be worst economic meltdown since Great Depression

//
Categories
The coronavirus outbreak will drive a “Great Lockdown” poised to be the worst recession in nearly a century, the International Monetary Fund estimated on Tuesday. Global gross domestic product will shrink by 3% in 2020 before recovering by 5.8% in 2021, according to the agency’s base case. A pandemic lasting through 2020 would eliminate most...
Read More →

‘Look at the deal that Warren Buffett did’: Mark Cuban said US officials should channel the investor in Boeing bailout talks

//
Categories
Billionaire Mark Cuban called on US officials to channel one of America’s best-known dealmakers ahead of potential bailout talks with Boeing this weekend. “We’ll use what Warren Buffett did with Bank of America, when he gave them $5 billion and asked for warrants, and he made $12 billion off the warrants,” the “Shark Tank” star ...
Read More →

The Fed has temporarily lifted Wells Fargo’s asset cap

//
Categories
This story was delivered to Business Insider Intelligence Banking Briefing subscribers earlier this morning. To get this story plus others to your inbox each day, hours before they’re published on Business Insider, click here. Stay up-to-date with our latest coverage on the impacts of coronavirus on technology, marketing, and the digital economy here. The US...
Read More →