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Nearly four months into its $60 billion-a-month Treasury bill-buying program, the Federal Reserve is battling a perception among some investors that its asset purchases are equivalent to the central bank's postcrisis quantitative easing program.According to Polo Rocha, writing for S&P Global Intelligence, those investors' views could cause a communications headache for the Fed in the coming months, when the central bank is expected to begin slowing the pace of its purchases as it builds banking Read Story

Filed Under: Federal Reserve
February 10, 2020 @ 09:10 AM

Wells Fargo & Company announced the appointment of several new business leaders and changes designed to create a flatter line of business organizational structure and provide leaders with clear authority, accountability and responsibility. The new model has five line of business CEOs, each reporting to Wells Fargo CEO Charlie Scharf and represented on the company’s Operating Committee.“The Wells Fargo franchise has extraordinary opportunity and power, and these organizational changes enable us Read Story

February 12, 2020 @ 09:10 AM

American Commercial Lines Inc. announced that it has taken the next step to implement the "pre-packaged" plan to recapitalize the business, significantly reduce the Company's debt under its previously announced Restructuring Support Agreement (the "RSA") and materially increase its liquidity. As expected and as contemplated by the RSA, ACL has voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Read Story

Filed Under: Bankruptcy
February 10, 2020 @ 09:05 AM

Angelo, Gordon & Co., L.P., a $38 billion alternative investment firm focused on credit and real estate investing, announced the final closing of AG Credit Solutions Fund, L.P., with $1.8 billion of equity commitments.The Fund, which is the flagship closed-ended investment vehicle of the firm’s distressed and corporate special situations activities, employs an all-weather investment approach designed to generate attractive risk-adjusted returns in any market environment. The Fund’s investment Read Story

Filed Under: Industry News
February 11, 2020 @ 09:10 AM

In another blow to the retail sector, Kohl's Department Store will lay off up to 250 employees as firm struggles to right itself under rising pressure from online retailers and begins a new sales strategy."This reorganization in our business will empower decision-making, reduce management layers, streamline communications and drive greater efficiency in many areas of our business," said Kohl's Senior Vice President of Communications Jen Johnson said. For more, see the article in USA Today. Read Story

Filed Under: Retail
February 13, 2020 @ 09:11 AM

2020-02-24 09:12