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At the Milken Institute’s Global Conference this week, a little-known risky financial tool became the subject of a hot debate among Wall Street titans. Many private equity firms have quietly begun mortgaging their investment funds, piling leverage upon leverage. In other words, they’re taking out loans against the businesses they’ve already taken out loans to buy. At a time when dealmakers are desperate to raise new cash after the boom of the pandemic era, this mechanism — known as a net asset value loan — is allowing them to do it overnight. firms are using the tool as they set out to raise their next funds, especially those confronting a hurdle during a slow period for dealmaking: They have yet to return cash to the limited partners they tapped for their last round.

Organizations: Milken Institute’s Global Conference, Wall Street titans

☆ Kevin Costner on why he never gave up on his 35-year passion project 'Horizon: An American Saga': 'It's hard to fall out of love. I don't do that.'
▼ + stars: | 2024-02-26 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +4 min

The full-length trailer for Kevin Costner's "Horizon: An American Saga" has been released. AdvertisementWarner Bros. has debuted the first full-length trailer for Kevin Costner's big-budget epic, "Horizon: An American Saga," a multi-film franchise that the actor has been developing on and off for most of his career. AdvertisementThe poster for "Horizon: An American Saga," directed by and starring Kevin Costner. Advertisement"I love women in cinema," he continued after singing the praises of Miller, Malone, and Hunt, who play prominent roles in the films. Asked about what he hopes audiences will take away from the films, Costner said: "I hope that people feel that were taken somewhere.

Persons: Kevin Costner's, —, Costner, Danny Huston, Kevin Costner, Warner, cowritten, Jon Baird, Christine Baumgartner, mortgaging, Sienna Miller, Sam Worthington, Jena Malone, Rich Polk, Mike Marsland, John Shearer, Jamie Campbell Bower, Abbey Lee, Ella Hunt, Luke Wilson, Hayes Costner, Miller, Malone, Hunt Organizations: Service, Warner, Academy, Warner Bros, Paramount, Business, Getty Locations: America, American, California, Jena

☆ One Big Reason Migrants Are Coming in Droves: They Believe They Can Stay
▼ + stars: | 2024-01-31 | by ( Miriam Jordan | ) www.nytimes.com time to read: +1 min

Today, people from around the globe are streaming across the southern border, most of them just as eager to work. But rather than trying to elude U.S. authorities, the overwhelming majority of migrants seek out border agents, sometimes waiting hours or days in makeshift encampments, to surrender. In fact, it is a crucial step toward being able to apply for asylum — now the surest way for migrants to stay in the United States, even if few will ultimately win their cases. We are living in an era of mass migration — fueled by conflict, climate change, poverty and political repression and encouraged by the proliferation of TikTok and YouTube videos chronicling migrants’ journeys to the United States. Migrants from Africa, Asia and South America are mortgaging their family land, selling their cars or borrowing money from loan sharks to embark on long, often treacherous journeys to reach the United States.

Persons: — Organizations: Central, U.S . Border Patrol Locations: Mexico, Central America, U.S, Los Angeles, Atlanta, United States, Africa, Asia, South America

A sale to JetBlue represented a lifeline for Spirit, which faces $1.1 billion in debt maturing next year. But a federal judge in Boston scuttled that plan by ruling Tuesday that JetBlue’s $3.8 billion proposal to buy Spirit violates antitrust law. But Frontier has its own challenges and is in no position to renew merger discussions with Spirit now, Baker said. Like Spirit, JetBlue has not had a profitable year since 2019, before the pandemic. Investors are also trying to gauge what the ruling against the JetBlue-Spirit deal means for Alaska Airlines' pending proposal to buy Hawaiian Airlines.

Persons: Airlines hasn’t, haven’t, William Young's, ”, Helane Becker, Cowen, “, Jamie Baker wasn’t, ” Baker, Baker, Judge Young, Young, Robin Hayes –, Biden, hasn't, Michael Linenberg Organizations: Airlines, JetBlue, Justice Department, Bank of America, Pratt & Whitney, Airbus, Frontier Airlines, –, Investors, Alaska Airlines, Hawaiian Airlines, Deutsche Bank, Spirit, American Airlines Locations: Boston, Miramar , Florida, Alaska

☆ Russia has a 'high tolerance' for losses after losing 100s of aircraft, 1000s of tanks, and more than 300,000 men in Ukraine, NATO chief says
▼ + stars: | 2023-11-30 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Since the invasion, Russia has become "weaker politically, militarily, and economically," he said. But Jens Stoltenberg warned that this doesn't mean Russia will stop. And more than 300,000 casualties," Stoltenberg said. AdvertisementBut Stoltenberg warned against thinking that Russia would stop its invasion as a result of all this, stating that "we must not underestimate Russia." AdvertisementThis could include getting some territory from Ukraine, something Ukraine said it is not willing to accept and that's unlikely to actually stop Russia.

Persons: Jens Stoltenberg, —, Stoltenberg, Vladimir Putin, Putin, Putin's Organizations: Service, NATO, Russia, Ukrainian, Kremlin Locations: Ukraine, Russia, Caucasus, Central Asia, China, Moscow, Beijing, Russian, Ukrainian

Oct 26 (Reuters) - Ford (F.N) autoworkers were set to head back to work after the United Auto Workers (UAW) union reached a tentative labor deal with the company late Wednesday. Ford was the first of Detroit's Big Three car manufacturers to negotiate a settlement to strikes joined by 45,000 workers since mid-September. The UAW will now turn its attention to talks with General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI). The UAW told Ford workers now on strike to return to their jobs during the ratification process. That means production of Ford Super Duty pickups, Ford Bronco and Explorer SUVs and Ranger trucks could restart this week.

Persons: Ford, Harley Shaiken, Shawn Fain, Jim Farley, David Shepardson, Joseph White, Abhirup Roy, David Gaffen, Mark Porter Organizations: United Auto Workers, UAW, General Motors, Chrysler, Ford, University of California, GM, Ford Bronco, Thomson Locations: University of California Berkeley, Washington, Detroit

[1/2] United Auto Workers (UAW) union members picket outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023. Total economic losses from the auto workers' strike have reached $9.3 billon, the Anderson Economic Group said earlier this week. Getting the deal ratified will be up to Fain and UAW leaders, and that is not assured. UAW workers at the company now called Stellantis rejected a proposal endorsed by UAW leaders in 2015. UAW leaders feared that the automakers would cut jobs at combustion engine factories and shift work to non-union joint venture battery plants or overseas suppliers.

Persons: Luke Sharrett, Shawn Fain, Ford, Sam Fiorani, Stellantis, Joe Biden, Fain, Donald Trump, Mrinmay Dey, Peter Henderson, Abhirup Roy, Shailesh Kuber, Sayantani Ghosh, Cynthia Osterman Organizations: United Auto Workers, UAW, REUTERS, Ford, General Motors, Chrysler, Stellantis, GM, AutoForecast Solutions, CNBC, Anderson Economic Group, Detroit, U.S, Republican, Mack, EV, Detroit Three, Toyota, Tesla, Hyundai, Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, Arlington , Texas, Kentucky, Sterling Heights , Michigan, Detroit, Michigan, United States, Bengaluru

☆ UK house prices fall by 5.3% in 12 months to September - Nationwide
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 2 (Reuters) - British house prices in September were 5.3% lower than a year earlier, matching their fall in August which was the biggest annual drop since 2009, figures from mortgage lender Nationwide showed on Monday. In month-on-month terms, prices were unchanged in September after a 0.8% fall in August, Nationwide said. Britain's housing market has slowed as borrowing costs mount, but the fall in house prices so far remains much less marked than their jump of about 25% between the start of the coronavirus pandemic and September last year. The combination of rising wages and lower house prices and mortgage rates would probably improve affordability in the housing market over time although it was set to remain subdued in the interim, he said. Transaction volumes for flats were holding up better than other property types, possibly reflecting how prices for smaller homes did not rise as much during the pandemic, Nationwide said.

Persons: Robert Gardner, William Schomberg, Louise Heavens, Kirsten Donovan Organizations: Nationwide, Bank of England, Thomson

☆ Lauren Boebert missed voting against the debt ceiling bill she hated and can't explain why
▼ + stars: | 2023-06-02 | by ( Jake Swearingen | ) www.businessinsider.com time to read: +3 min

Lauren Boebert missed the vote to raise the debt ceiling after criticizing the deal for weeks. The House passed the bill 314-117, but Boebert failed to appear and vote no as pledged. Yet when the roll was called in the House Wednesday night, Boebert wasn't in the chamber. Rep. Lauren Boebert narrowly missed the vote, running up the steps right as they gaveled. — Juliegrace Brufke (@juliegraceb) June 1, 2023Since missing the house vote, she has not Tweeted about the debt ceiling at all.

Persons: Lauren Boebert, Boebert, —, Kevin McCarthy, Joe Biden, Spencer Soicher, Juliegrace, Adam Frisch, txFyN21ukR — Adam Frisch, Joe Biden's, Biden Organizations: Service, Colorado Republican, Republican, Rep Locations: Colorado

☆ The federal government wastes at least $247 billion in taxpayer money each year. Here's how
▼ + stars: | 2023-04-18 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

Improper payments, which refer to payments that are made incorrectly by the government, cost the U.S. $247 billion in 2022, according to the Government Accountability Office. "In the federal government, everything is 'Go spend more money' and if that doesn't work, it's 'Go spend more money.'" It's the job of the GAO to audit and report any wasteful spending by the federal government. Nevertheless, wasteful spending by the government can have painful consequences to the health of the economy, according to watchdog groups. Watch the video to find out more about why taxes feel so high in the U.S. and why so much taxpayer money gets wasted.

☆ U.K. spy chief warns China’s use of technology threatens global security
▼ + stars: | 2022-10-10 | by ( Dan De Luce | Dan De Luce Is A Reporter For The Nbc News Investigative Unit. | ) www.nbcnews.com time to read: +4 min

Fleming is due to deliver his warning on Tuesday in London at the Royal United Services Institute, a defense and security think tank. According to excerpts from his speech, Fleming will cite several examples of how China seeks leverage from key technologies or tries to rewrite international standards. And there are fears the technology could be used to track individuals,” Fleming will say. Underlying China’s belief in one-party rule and tight state control is “a sense of fear,” Fleming will say. “Far from the inevitable Russian military victory that their propaganda machine spouted, it’s clear that Ukraine’s courageous action on the battlefield and in cyberspace is turning the tide,” the excerpts say.

☆ A Harvard-trained economist shares his top 21 money rules: 'Own your home' and 'try to buy in cash'
▼ + stars: | 2022-01-05 | by ( Laurence J. Kotlikoff | ) www.cnbc.com time to read: +8 min

Having more of your money packed in your home is a way to shelter it from federal and state asset-income taxation. As an economist, here are the top 21 money rules that I live by and teach:For sure, they won't all just stick in your brain. Or it may be someplace with no state income tax, no state estate tax, and no state inheritance tax. Or, in other words, don't put more money into the stock market until your initial bets are safe from losses. Laurence J. Kotlikoff is an economics professor and the author of "Money Magic: An Economist's Secrets to More Money, Less Risk, and a Better Life."

Persons: —, It's, Sam, I've, they'll, you've, Laurence J, Kotlikoff Organizations: Social, Security, Social Security, Harvard University, New York Times, Bloomberg, The Financial Times, Twitter Locations: New Hampshire, Massachusetts

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