Goldman Sachs’ Solomon plays down private credit fears Markets Top Wall Street executives have downplayed the likelihood of a private credit downturn sparking a wider economic crisis, despite a string of major lenders setting aside billions of dollars to manage potential defaults on their balance sheets. Goldman Sachs boss David Solomon dismissed the growing chorus of voices warning that tremors in the private credit [...]
Another US lender tumbles as credit jitters accelerate Markets Another mid-sized lender filed for bankruptcy in the US, highlighting the growing strain in American credit markets which Andrew Bailey has likened to the subprime crisis that foreshadowed the Great Financial Crisis (GFC). Primalend, a Texan provider of subprime financing to car dealerships, said in a filing on Wednesday that it had collapsed after months [...]
Andrew Bailey: Regulation is not hampering growth Economics Bank of England governor Andrew Bailey has warned of the dangers associated with paring back financial regulation, in a speech in which he also denied that the abundance of red tape foisted on the financial sector after the Great Financial Crash had impeded economic activity. Addressing the Klass Knot Farewell Symposium, Bailey, who was recently [...]
Lord Mayor: ‘Schizophrenic’ City needs more positivity October 2, 2025 The City of London is suffering from a bout of “extraordinary schizophrenia” that has left it devoid of confidence at a time when other markets still view it as one of the world’s eminent financial centres, the Lord Mayor has said. In one of the last speeches he will make in post before his term [...]