The U.S. hedge fund manager backing a major newspaper merger



Amid a business presentation heavy on numbers, Steven Shapiro slipped in this tidbit about what made a struggling U.K. bank an attractive investment to a hedge fund that specializes in distressed assets. “And then it emerged that the bank’s chairman, an ordained minister, was caught buying drugs, earning him the nickname the ‘Crystal Methodist’,” Shapiro told…

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Accelerating Auto Loans Leave Canadian Banks At Risk: Moody’s


Canadian banks have been hitting the gas on auto loans, leaving consumers and the financial institutions more vulnerable to risk if the economy takes a sudden turn, according to a new report from Moody’s Investors Service. Growth in auto loans has outpaced that of mortgages, credit cards, and personal lines of credit over the last seven…

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Fannie, Freddie To Accept Lower Down Payment Mortgages


CHICAGO — Fannie Mae and Freddie Mac are close to allowing consumers to buy a home with as little as a 3 percent down payment and still have the mortgages backed by the two agencies. More details are expected to be announced in coming weeks, but the move from a 5 percent down payment could increase…

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