TAKEOVER FIRM HOPES FOR $877 MILLION FROM IPO TPG Capital, a buyout specialist formerly named Texas Pacific Group, is hoping to collect as much as $877 million from an initial public stock offering that would value the firm as highly as $9 billion, the Financial Times reported. TPG hopes to sell 28.3 million shares at...
Tag: jan 11 2022
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SPOTLIGHT: TURKEY IN CRISIS
TURKEY’S INFLATION RATE ZOOMS PAST 36 PERCENT IN DECEMBER Inflation in Turkey soared to 36.1 percent last month, the most in the 19 years that strongman president Recep Erdogan has ruled and enforced his notion that low interest rates counter consumer price increases. Inflation was running at 37 percent in September 2002, two months before...
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SPOTLIGHT: INFLATION GALLOPS ON
INFLATION ENDANGERS EU RECOVERY, ANALYSTS WARN Europe’s economic recovery will be in danger if inflation continues to destroy consumers’ buying power and the European Central Bank (ECB) is forced to hike interest rates sooner than planned, according to 38 economists polled by the Financial Times. Inflation poses a “significant risk” to the 19-member Eurozone’s economic...
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DEUTSCHE BANK BANKSTER FINED AGAIN!
Germany’s bank regulating agency has fined Deutsche Bank, Germany’s richest bank, €8.7 million, equivalent to about $7.7 million, for failing to implement safeguards to prevent interest rate rigging. The bank had failed to adopt “effective preventive systems, controls, and policies” that would keep employees from colluding with counterparts at other institutions to set rates artificially,...
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MORE MEGA-BANK MONKEY BUSINESS
“Fish gotta swim, birds gotta fly.” And financial institutions, evidently, gotta manipulate, to their own advantage, the markets in which they trade, apparently unencumbered by ethics and undeterred by fines (when caught!) in the millions of dollars (but actually amounting to little more than a slap on the wrist), and probationary agreements which they frequently...
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ECB TO KEEP MONEY JUNKIES HIGH
The European Central Bank (ECB) will continue its €4.6-trillion bond-buying economic stimulus programs well into 2023, according to 75 percent of 32 economists polled by the Financial Times. The remainder of those polled expected the bank to curb stimulus programs this year, in part because the ECB already has said net new purchases in its...
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RESTAURANTS HUNGRY FOR GOV’T DOUGH
The U.S. Congress is considering a fresh plan to channel billions of stimulus dollars to the restaurant industry, including a bipartisan $68-billion proposal drafted last month. Legislators are determining “how much is needed,” according to Maryland senator Ben Cardin, who co-wrote the proposal with colleague Roger Wickler from Missouri. In May 2021, the Biden administration...
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HOME PRICES WILL RISE 14 PERCENT THIS YEAR, ZILLOW SAYS
Home prices will increase by 14 percent this year through November, online real estate brokerage Zillow predicted. Prices in Charlotte and Raleigh, N.C., San Antonio, Tex., and Jacksonville and Tampa, Fla., will rise the most; Tampa leads the surge with prices forecast to grow by 25 percent, Zillow said. Home prices will climb in southern...
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RENTS ON THE RISE
After asking rents shot up almost 20 percent last year, and will shot up an additional 7 percent in 2022, according to Realtor.com. Nationally, apartment occupancy was 97.1 percent in December, continuing a relentless demand for flats that has enabled landlords to raise rents dramatically over the last year, as we reported in “Rents Soaring:...
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TRADE DEFICIT USA: “WE’RE #1”
Loosening supply lines and U.S. consumers’ unrelenting demand for goods pushed November’s trade deficit in merchandise to $99 billion as holiday shopping intensified, especially for cell phones, clothing, and toys, The Wall Street Journal reported. The month’s overall deficit in goods and services combined was $80.2 billion. Manufacturers exported less, due to kinked shipping lines...