AGP Executive Report
Last update: 5 hours agoRates and Inflation: US inflation rose 0.4% in October, above forecasts, strengthening expectations of a December Fed rate hike and raising the possibility of a larger move. India Investment: Blackstone will invest $535 million for about 16% of IIFL Finance, helping lift its capital adequacy ratio to roughly 30% and fund secured lending growth. Italy’s Banking Shake-up: Crédit Agricole proposed merging its Italian unit with Banco BPM to create the country’s third-largest bank; the deal needs shareholder and regulatory approval. Credit Risk: JPMorgan is weighing a sale of nearly $2 billion in Qualtrics debt at about 85 cents on the dollar, as lenders face investor concerns about software firms and AI disruption. Digital Finance: Coinbase received full OCC approval for a national trust company, while PNC expanded a service that converts corporate clients’ USDC payments into dollars for deposit in existing accounts. Energy Finance: Deutsche Bank and Rabobank are backing €835 million in financing to expand battery storage projects in Germany.
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