“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
Contagion from Liquidity Crunch at Junk-Bond Funds to Trigger “Material Second Round Effects”: EU Securities Regulator
The costs of dodging negative interest rates.More
These Incidents Raise New Questions about the Security and Operability of the Banking System in Mexico
For now, it’s deny, deny, deny.More
Bank of Mexico Raises Alarm About Mexico’s Economy
“Particularly worrisome” is that this slowdown “has taken place in a context where the US economy is growing above potential.”More
Nick Corbishley 