Wheels Up in Talks With Lenders Amid Cash Crunch
U.S. charter flight company Wheels Up is engaging with lenders over a debt restructuring agreement and other rescue options as it seeks to avoid bankruptcy. The private jet company is in talks with Bain Capital and MSD Capital after missing debt repayments, sources familiar...
U.S. Bank Credit Expands Despite Drop in Lending
Bank credit for U.S. commercial banks edged higher over the past week despite a recent downturn in the volume of commercial and industrial lending, data from the Federal Reserve revealed.
Nationwide bank credit rose to $17.31 trillion in the week ending June 28 on a...
PacWest Bancorp Shares Rise Following Agreement to Sell Lending Unit
Shares in PacWest Bancorp rose by 6.4% during premarket trading on Wednesday following the mid-sized lender's announcement that it would sell its property lending unit later in the week. The company's shares remain 68% lower since the start of the year despite the daily...
U.S. Bank Lending Fell Marginally Following Failure of First Republic Bank
U.S. bank lending fell marginally during the week after the failure of First Republic Bank, data from the Federal Reserve on Friday revealed. The bank, which was acquired by JPMorgan Chase & Co, was the United States' second-largest single bank failure.
Commercial bank lending declined...
U.S. Bank Lending Experiences Record Drop in Late March
The U.S. banks saw a historic drop in lending in the final weeks of March, one not seen in the last 50 years. The slump was likely influenced by the recent banking crisis and fears over the troubling economy.
According to Federal Reserve data, lending...