Consumer Credit News
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Banca Monte dei Paschi di Siena SpA, the bailed-out Italian bank embroiled in a fraud probe, reported a smaller first-quarter loss than analysts estimated as revenue exceeded forecasts.
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Banca Monte dei Paschi di Siena, the bailed-out Italian bank embroiled in a fraud probe, will probably report a fourth straight quarterly loss as lending income falls.
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Deborah Bernstein, who worked at Goldman Sachs Group Inc., Pequot Capital Management Inc. and Aquiline Capital Partners LLC in the 15 years since she graduated from Stanford University’s business school, has died. She was 41.
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Growing U.S. consumer borrowing signals the economy is healing and will sustain a rally in global stocks, sending the benchmark Standard & Poor’s 500 Index to fresh records, according to the co-chief investment officer at Deutsche Bank AG’s asset-management unit.
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Provident Financial Plc, the U.K.’s biggest subprime lender, fell in London trading after saying loan arrears are mounting as rising utility bills hurt customers’ finances.
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Consumer borrowing in the U.S. climbed less than projected in March as Americans reduced credit-card purchases for the first time this year.
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Alibaba Group Holding Ltd., China’s largest e-commerce company, had profit that doubled in the three months ended in December after commissions likely increased on surging sales.
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Alibaba Group Holding Ltd. doesn’t want to be the next Facebook Inc. -- at least for its prospective initial public offering. The world’s biggest online retailer is considering a more conservative valuation than what the social-networking company achieved last year, a person familiar with the situation said.
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President Barack Obama nominated Representative Mel Watt to be director of the Federal Housing Finance Agency after months of political pressure from consumer advocates to find a new overseer for Fannie Mae and Freddie Mac.
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U.K. mortgage approvals rose more than forecast in March as an easing of credit conditions helped support the housing market.
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