In funds with a liquidity mismatch, the First-Mover Advantage is huge, as Woodford’s investors found out. More
The Crisis in Catalonia and What I Saw in Our Neighborhood in Barcelona
As separatist region is rocked by violence, businesses sound alarm.More
JPMorgan, BofA, Citi, Barclays, Deutsche Bank, BBVA, Santander Accused of Rigging Government Bond Auctions in Mexico. Bank of Mexico Implicated
Collusion and “absolute monopoly practices”More
Just Weeks After the Collapse of Thomas Cook, Spain Launches First Bailout of its Huge Tourism Industry
“An unforeseen crisis.” Other headwinds intensify too. More
GM, Ford, BMW, VW, Honda Shift More Production to Mexico. Auto Imports Surge Despite Decline in US Sales
But Mexican exports to other countries plunge, tripped up by global auto slowdown. More
Low & Negative Interest Rates Get Broadsided by the BIS
They undermine banks. To dodge the fallout, banks chase yield, buying stuff like CLOs, instead of lending. When loans go bad, banks may “evergreen” them. More
Metro Bank Teeters after Bond Sale Fails. Shares Collapsed 95%
Hedge-fund manager Steven Cohen and Michael Bloomberg are among those ruing the day they bought the crushed shares of the UK bank touted as a “bargain.” More
Thomas Cook Collapses, up to 600,000 Travelers Stranded in Hotel & Airline Chaos, Triggers “Biggest Peacetime Repatriation in UK History”
Rescue deal fell through at the last moment. China’s Fosun and other shareholders are toast. Creditors get to fight over the debris.More
“Hidden Debt Loophole” Becomes Popular with Australian Corporations
Situation already so bad that hiding debt becomes a priority?More
Who’ll Rescue Thomas Cook, the Collapsing Vacation-Travel-Airline Giant with 21,000 Employees?
Shareholders are already toast. Would China’s Fosun conglomerate follow the time-honored principle of throwing good money after bad?More
Nick Corbishley 