LendingClub Corp., the largest U.S. peer-to-peer lender, is taking steps to become the one-stop shop for online loans as it plans for an initial public offering. It’s also now valued at almost $3.8 billion.
Brian T. Moynihan, who has compared cleaning up Bank of America Corp.’s mortgage mess to lugging a backpack up a mountain, today posted his fourth quarterly loss since he became chief executive officer.
Brink’s Co. plunged the most in two years after saying it will write down the value of its Venezuelan assets, showing how last month’s 88 percent currency devaluation is squeezing companies with cash in the country.
Endurance Specialty Holdings Ltd., the Bermuda-based provider of property and casualty insurance, announced a $3.2 billion offer to buy Aspen Insurance Holdings Ltd. after the target company turned down its proposal.
Bill Gross and Larry Fink manage a $3 trillion pile of bonds -- an amount almost as big as Germany’s economy. Their firms, Pacific Investment Management Co. and BlackRock Inc., doubled holdings since 2008, outpacing the market’s growth of 50 percent.