China Lenders Rush to Sell Riskiest Debt to Catch Low Yields
Overall, issuance of capital bonds, including high-yielding subordinated debt, rose 23% to a record 638.7 billion yuan ($88.95 billion) in the second quarter, according to data compiled by Bloomberg. The average coupon on Tier-2 bonds fell to 2.35% and to 2.31% on perpetual debt, both the lowest since records began in 2009.
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- Yahoo
Strategy Earned $10B in Q2 on Back of Bitcoin Price Gain
Strategy (MSTR), the largest corporate holder of bitcoin (BTC), posted second-quarter operating earnings of $14 billion or $32.60 per share, and net income of $10 billion. The massive profit came as the price of bitcoin rose roughly 30% during the thre-month period. "Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," said CFOM Andrew Kang. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60." Strategy, led by Executive Chairman Michael Saylor, continued executing its aggressive bitcoin accumulation plan, fueled by cash generated from the sale of its common and preferred stock issuances, bringing its stack to 628,791 bitcoin by the end of July. The company lifted its full-year bitcoin yield target to 30% and expects full-year operating income of $34 billion and net income of $24 billion, based on an expected year-end bitcoin price of $150,000. MSTR is up modestly in after hours trading to $408.25 and higher by 34% year-to-date.
Yahoo
41 minutes ago
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Hidden reality behind 'horrendous' prices at Aussie airports revealed: 'Comes at a cost'
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"I got a burrito and a flat white for $28, and it was terrible," he said. "A 600ml water is $7.50. Just because you can charge more, doesn't mean you should." The revelation sparked fury among other travellers, with many calling out Aussie airports for unfairly imposing higher prices. "You're trapped there. It's horrendous," one person wrote. "How is price gouging okay at the airport but not anywhere else?" added another. Other travellers have similarly been forced to do a double-take when they found out how much simple items would woman said she was charged $35 at Perth Airport for two separate purchases: $11 for a small coffee and bottle of water $24 for two rice paper rolls and a packet of chips If she had bought her meal outside the airport, she would've paid $5.45 for the first purchase, and about $16.05 for the second. Meanwhile, another traveller shared their outrage at being charged $10 for a single slice of banana bread at Melbourne Airport. Mortimer told Yahoo Finance it's easy to blame businesses for being greedy, but outlined the not-so-obvious costs businesses have to contend with to operate at an airport. Airport workers cost much more to onboard The QUT professor said staffing can be a huge cost to cafes, restaurants, and luxury designer brands inside an airport. Airports operate from early morning until late night, seven days a week. This means staff need to be rostered, including on weekends and public holidays. Comparatively, a cafe on the outside might open at 6am and close at 3pm, while a restaurant might open at 5pm and close at midnight. Airports can also be sent into disarray if there's a flight delay or cancellation. As a result, most airport businesses have to have enough staff on at all times to account for these instances. But there is another major consideration. "Imagine having a cafe inside a shopping centre. You can hire people all the time. They can park pretty easily to turn up at work. 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Yahoo
41 minutes ago
- Yahoo
Oil Falls Below $70 as Sentiment Sours
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