Almost two years after Greensill Capital collapsed, Citigroup is pitching supply chain finance schemes as a tool for tackling rising inflation and interest rates.
once worked for the US bank
“In an increasing interest rate and inflationary environment, the differential between the cost of investment grade and non-investment grade finance is becoming significantly wider, putting pressure on smaller suppliers,” the report says. Fitch last week slashed the former investment grade credit ratings of Brazilian retailer Americanas to junk status after the companyFitch said the disclosure reflected “several years of material weakness in the quality of the company’s financial statements, as well as the lack of transparency in its financial reporting, as reverse factoring information has not been adequately disclosed in its financial statement notes.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China reports almost 60,000 COVID-related deaths since end of zero-COVIDChina has revealed approximately 60,000 people have died in hospital with COVID-19 since Beijing dismantled its zero-COVID policy in early December. China previously held one of the lowest COVID fatality rates in the word, recording just over 5,000 deaths since the beginning of the pandemic in 2020. The increase was documented from December 8 through January 12, however, figures remain inconsistent with authorities also only reporting five or fewer deaths a day over the past month. The World Health Organisation has repeatedly criticised China for under-reporting deaths from COVID.
Read more »
Romanian police seize luxury cars from Andrew Tate’s property in capitalRomanian police have seized several luxury cars belonging to influencer Andrew Tate. The vehicles were removed from his property in Romania's capital after Mr Tate's appeal to end his detention was rejected last week. Mr Tate and his brother are in custody in Romania detained on human trafficking and rape charges. The controversial influencer is known for his extensive collection of cars, which instigated his feud with activist Greta Thunberg on the topic of his carbon footprint.
Read more »
Indebted REITs unlikely to have to raise emergency capitalDebt is an issue for property companies, but it’s not extreme. And there are some major differences from the big GFC downturn.
Read more »
How fast-moving floods took a deadly toll on California’s capital: ‘No one expected it’Storms took five lives in Sacramento county, where a year of heatwave and drought was followed by record rain
Read more »
Bain Capital to seek advice on Virgin IPOVirgin Australia owner Bain Capital says it will shortly seek advice on an initial public offering for the relaunched airline.
Read more »
Banks ready pitches for Virgin Australia IPOBain Capital’s making the most of a quiet time for equity capital markets teams, inviting pitches for a role on Virgin Australia’s mooted initial public offering.
Read more »