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Weakest BDCs’ Bonds Risk Downgrade to Junk Within Six Months
More private credit funds are at risk of losing the investment-grade ratings on their debt as they continue to face elevated redemption requests, according to research published by Bank of America Corp. Three of the largest private business development companies are...
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Ukraine Says It Hit Nitrogen Nutrient Plant in Russia’s Tolyatti
Ukraine said it hit a nitrogen fertilizer plant in Russia overnight while Kremlin’s forces targeted several Ukrainian regions, including a deadly strike in Dnipropetrovsk, as the war shows no signs of slowing down. UAVs struck the KuibyshevAzot facility in Tolyatti,...
The Iran War Is Reshaping Global Aviation
Lufthansa, BA, Delta face a challenge to capitalize on the upheaval For years, airlines in the US and Europe have gawked at the rise of Middle East carriers funneling ever more passengers through their gleaming hubs in Dubai and Doha at competitive prices with the...
Anthropic Surges Past OpenAI in Private Markets as SpaceX IPO Looms
Anthropic shares now trade more actively than OpenAI on secondary markets, per Rainmaker Securities president Glen Anderson in exclusive comments to TechCrunch The secondary market for private shares is experiencing unprecedented activity, signaling major investor...
It May Take a Year to Restore Abu Dhabi Aluminum Output, EGA Says
The Middle East’s biggest aluminum producer said it may take as long as a year to restore full output at its Abu Dhabi plant, following an Iranian attack a week ago. Emirates Global Aluminium said the Al Taweelah smelter went into emergency shutdown, after suffering...
Blue Owl Reels as Investors Who Fueled Its Growth Now Want Out
The top-line numbers from Blue Owl Capital Inc.’s funds were unambiguous and, by just about any measure, ugly. Investors sought to cash in more than 20% of shares from its flagship $36 billion private credit fund. Its smaller, tech-focused vehicle saw redemption...
First Prediction Market Note Offers Nvidia Bets With Less Risk
Investors who like the binary bets on Kalshi and Polymarket but without the all-or-nothing risk are being offered an unlikely new asset: a bond-like note tied to prediction market outcomes. London-based Marex Group Plc created and sold the first instance of this new...
Private Credit’s CLO Machine Ramps Up in Push to Raise More Cash
Faced with a wave of redemptions and market turmoil, the private credit industry is leaning into a classic Wall Street maneuver: securitization. Private credit firms are issuing collateralized loan obligations at a near record pace, despite unease over a potential...
Private Credit’s Implosion
President Donald Trump’s speech last night about Iran did little to change the current market dynamic. That will change in time. But the real challenge to market indexes goes beyond rising oil prices. In the background, the festering pool of bad private credit deals...
Singapore Reports First Domestic Spread of Mutated Mpox Strain
Singapore said a mutated monkeypox strain has spread locally for the first time, marking a new emergence of the potentially deadly virus in Asia while it continues to spread through Africa. Two men aged 30 and 34 are in stable condition after “likely being infected...
OpenAI Is Falling Out of Favor With Secondary Buyers
OpenAI shares have fallen out of favor on the secondary market — in some cases becoming almost impossible to unload — as investors pivot quickly to Anthropic, its biggest competitor. Even as OpenAI raced in recent months to raise tens of billions of dollars, Next...
