Latest news with #LehmanBrothers
Business Upturn
6 days ago
- Business
- Business Upturn
US Capital Global Names Michael J. Levas Partner to Co-Lead New York Office and Drive Expansion into Italy and Greece
San Francisco, California, USA, May 29, 2025 (GLOBE NEWSWIRE) — US Capital Global, a full-service global private financial group headquartered in San Francisco, is pleased to announce the promotion of Michael J. Levas to Partner. Based in Boston, Mr. Levas will co-lead the group's Northeastern U.S. investment banking operations while driving strategic business development across Italy and Greece. With a distinguished career spanning over 30 years at top-tier Wall Street institutions—including Lehman Brothers, S.G. Cowen, UBS PaineWebber, Bear Stearns, and Advest—as well as as founder of The Olympian Group, Asclepius Life Sciences Fund, and Asclepius Ventures, Mr. Levas brings deep industry experience and a global perspective to his new role. 'I'm honored to take on this new role at US Capital Global at this exciting time of growth,' said Mr. Levas. 'With a strong base in Boston and increasing interest from European markets, particularly Italy and Greece, we are uniquely positioned to bridge capital and investment opportunities between the U.S. and the Mediterranean region.' In his expanded role, Mr. Levas will lead the group's regional strategy for client engagement and capital formation, with a focus on serving institutional clients, family offices, and private investors across both continents. 'Michael brings a rare combination of U.S. market expertise and European connectivity,' said Charles Towle, COO and Managing Partner at US Capital Global. 'His leadership will not only reinforce our East Coast presence but also drive the firm's expansion into high-opportunity markets in Southern Europe. Michael's dynamic approach and cultural fluency are already proving to be key assets.' 'I'm delighted to have Michael join me in co-leading our East Coast operations,' said Mitchell R. Cohen, Esq., Partner and Senior Vice President at US Capital Global. 'His extensive experience, integrity, and global perspective are invaluable as we continue to deliver innovative, client-focused financial solutions across Boston, Philadelphia, and beyond.' Mr. Levas is a frequent conference speaker and guest lecturer, having presented at leading universities and financial forums throughout North America, Europe, Asia, and Latin America. His commentary has appeared in Business Week , Bloomberg , Nasdaq , Dow Jones Newswires , NPR , and Smart Money , among other media outlets. About US Capital Global Founded in 1998, US Capital Global offers a range of advanced financial solutions, including debt, equity, and investment products customized for middle-market enterprises and investors. The firm oversees direct investment funds while delivering comprehensive wealth management and investment banking services, encompassing M&A strategies and capital raising expertise. Among the notable entities within the consortium are US Capital Global Investment Management LLC, US Capital Global Wealth Management LLC, and US Capital Global Securities LLC, an SEC-registered broker-dealer and member of FINRA. To learn more, visit To learn more about US Capital Global, email Jeffrey Sweeney, Chairman and CEO, at [email protected]. Attachment US Capital Global to Drive Expansion into Italy and Greece Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
The Star
28-05-2025
- Business
- The Star
Only a dollar slump can fix US trade deficit
IF the United States is to significantly reduce or, whisper it, eliminate its trade deficit, the dollar will probably have to weaken a lot. How much is unclear, though, as history shows large dollar declines are rare and have unpredictable consequences for trade. Reducing the US trade deficit is the key goal of President Donald Trump's economic agenda because he believes it reflects decades of other countries 'ripping off' America to the tune of hundreds of billions of dollars annually. Stephen Miran, chair of the Council of Economic Advisers, published a paper in November titled 'A User's Guide to Restructuring the Global Trading System' in which he argued that the dollar is 'persistently over-valued' from a trade perspective. 'Sweeping tariffs and a shift away from strong dollar policy' could fundamentally reshape the global trade and financial systems. If a weaker exchange rate is the Trump administration's goal, it is on the right track, with the greenback down nearly 10% this year on the back of growing concerns over Washington's fiscal trajectory and policy credibility as well as the end of 'US exceptionalism' and the 'safe haven' status of Treasuries. But it is good to remember that a 15% fall in the dollar during Trump's first term had no impact on the trade deficit, which remained between 2.5% and 3% of gross domestic product (GDP) until the pandemic. Making a dent in the US deficit will therefore require a much bigger move. The weight of history Reducing the trade deficit will be a challenge, eliminating it without a recession, a historic feat. The United States has run a persistent deficit for the past half-century, as insatiable consumer demand has sucked in goods from around the world and voracious appetite for US assets from overseas has kept capital flowing stateside. The only exception was in the third quarter of 1980, when the US posted a slender trade surplus of 0.2% of GDP, and trade with the rest of the world almost briefly balanced in 1982 and 1991-92. But these periods all coincided with – or were the result of – sharp slowdowns in US economic activity that ultimately ended in recession. As growth shrank, import demand slumped and the trade gap narrowed. The dollar only played a significant role in one of them. In 1987, the trade gap was a then-record 3.1% of GDP. But it had almost disappeared by the early 1990s, largely because of the dollar's 50% devaluation from 1985-87, its biggest-ever depreciation. That three-year decline was accelerated by the Plaza Accord in September 1985, a coordinated response between the world's economic powers to weaken the dollar following its parabolic rise in the first half of the 1980s. But that does not mean large depreciations always coincide with reductions in the trade deficit. The dollar's second-largest decline was a 40% fall between 2002 and mid-2008, just before Lehman Brothers collapsed. But the US trade deficit actually widened throughout most of that period, peaking at a record 6% of GDP in 2005. While it had shrunk by more than three percentage points by 2009, that was due more to plunging imports during the Great Recession than the exchange rate. These two episodes of deep, protracted dollar depreciation stand out because over the past 50 years, the dollar index has only had two other declines exceeding 20%, in 1977-78 and the early 1990s, and a few other slides of 15% to 20%. None of these had any discernible impact on the US trade balance. Deficit to 'vanish'? The US administration is correct that the dollar is historically strong today by several broad measures. Given that President Trump and Treasury Secretary Scott Bessent seem intent on rebalancing global trade, pressure on the greenback looks unlikely to lift any time soon. But how much would the dollar have to fall to whittle away the yawning trade deficit, which last year totalled US$918bil, or 3.1% of GDP? Hedge fund manager Andreas Steno Larsen reckons a 20% to 25% depreciation over the next two years would see the deficit 'vanish'. Deutsche Bank's Peter Hooper thinks a 20% to 30% depreciation could be enough to 'eventually' narrow the deficit by about 3% of GDP. 'This means that a significant reversal of the roughly 40% appreciation of the dollar in real (price-adjusted) terms against a broad set of currencies since 2010 could be sufficient to get the current deficit back to a zero balance,' Hooper wrote last week. History suggests this may be challenging without a severe economic slowdown. But that's a risk the administration seems prepared to accept. — Reuters Jamie McGeever is a columnist for Reuters. The views expressed here are the writer's own.
22-05-2025
- Business
Norinchukin Bank Posts Record Net Loss of 1.8 T. Yen
News from Japan Economy May 22, 2025 17:17 (JST) Tokyo, May 22 (Jiji Press)--Japan's Norinchukin Bank on Thursday reported a record consolidated net loss of 1,807.8 billion yen in fiscal 2024, citing hefty losses on foreign bond investments. The red ink far exceeded the previous record of 572.1 billion yen marked in the year that ended in March 2009, when financial markets were plunged into turmoil following the 2008 collapse of U.S. investment bank Lehman Brothers. Norinchukin Bank, the central banking body for agricultural, forestry and fisheries cooperatives across Japan, saw its latent losses on bonds balloon amid rising interest rates. This resulted in the massive net loss. The lender, however, expects to return to the black in the current year to March 2026, anticipating a net profit of around 30 billion to 70 billion yen. END [Copyright The Jiji Press, Ltd.] Jiji Press
Yahoo
17-05-2025
- Business
- Yahoo
Grant Cardone Made 2 Mistakes That Curbed His Wealth Building — Find Out How To Avoid Them
Grant Cardone is a successful businessman and financial influencer known for his bold real estate investing strategies. His stated approach often involves taking risks and pushing the boundaries of conventional business wisdom. Be Aware: Up Next: When writing about his real estate business in the '90s, Cardone pinpointed two specific strategies he now considers to have been missteps. Here's what they were and how you can apply the knowledge to your own business. The first mistake Cardone says he made was being too cautious in his expansion. He believes that he held back, and that pushing his business to expand at an accelerated rate would have led him to greater growth. There are advantages to quick, large-scale business growth. Expanding allows companies to capture significant market share while outpacing competitors, potentially securing a dominant position in the industry. Companies with larger growth can better capitalize on emerging markets and leverage their size to achieve better negotiation terms with suppliers and partners. Consider This: Aggressive growth through debt can lead to big returns in the real estate market, but it also comes with the risk of losing everything during a market crash. This approach can be risky, as seen in the collapse of Lehman Brothers, which was heavily leveraged and ultimately unable to sustain its debt load during the financial crisis. In real estate, leveraging means buying homes on credit by using borrowed funds to cover a portion of the property's purchase price, typically through mortgages or other loans. Overleveraging happens when the level of debt taken on is disproportionate to the investor's ability to pay it back through the income generated by the property or other financial means. For example, if an investor is using income from one property to pay mortgages on another, he can lose both if he is no longer able to rent out units and does not have enough income to cover loan payments. If the property's rental income is insufficient to cover the mortgage payments, taxes, maintenance and other operational costs, the investor faces a cash flow shortfall. This situation can become unsustainable, especially if multiple properties are involved. If the loans are tied to variable interest rates, there's a risk that rising rates will increase the debt service costs unexpectedly. This can make monthly payments suddenly unaffordable. Cardone says that his goals were often too realistic, which he believes capped his potential for achieving greater success. He argues that investors and businesses should set goals that are 10 times higher than what they think they can achieve. This is the premise of his popular '10X Rule.' Setting high targets can indeed be a catalyst for innovation and lead to significant business breakthroughs. According to the MIT Sloan Management Review, ambitious goals can push businesses to rethink their strategies and operations, leading to inventive solutions and substantial advancements in their field. Leaders who set high aspirations may be able to inspire their teams to greater efforts and achievement, fostering an environment where creativity and performance thrive. Cardone's real estate strategy encourages aspiring entrepreneurs and investors to venture beyond their comfort zones, suggesting that significant rewards often require taking risks. If you're looking to emulate Cardone's success, it's important to develop a good understanding of market dynamics and how to avoid risks and pitfalls. Make sure to keep a keen eye on your financials and have plans in place for potential downturns. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 8 Common Mistakes Retirees Make With Their Social Security Checks 5 Little-Known Ways to Make Summer Travel More Affordable These Cars May Seem Expensive, but They Rarely Need Repairs This article originally appeared on Grant Cardone Made 2 Mistakes That Curbed His Wealth Building — Find Out How To Avoid Them
India.com
15-05-2025
- Business
- India.com
Mukesh Ambani to gain Rs 100000000000 if he sells stock of..., profit will be...
Mukesh Ambani (File) New Delhi: Mukesh Ambani, India's richest man, is likely to make a massive Rs 10,000 crore profit on a Rs 500 crore investment. According to the reports, the investment was made at the height of the 2008 global financial crisis. In what stands as one of the most profitable stock market moves in recent times, Reliance Industries' investment in Asian Paints has surged to an impressive Rs 10,500 crore without counting dividends. In 2008, amid the global financial crisis and the collapse of Lehman Brothers that left markets in turmoil, Reliance Industries Limited acquired a 4.9 percent stake in Asian Paints through its investment arm, Ojasvi Trading. Today, for Reliance, that move is bearing fruit in the kind of numbers even private equity dreams are made of. According to an Economic Times report, RIL has revived plans to sell its entire 4.9% stake in Asian Paints, nearly two decades after buying in. The timing of this move is just as compelling as the investment itself. Over the last three years, the shares of Asian Paints have shed 25 percent, making it one of the worst-performing blue-chip stocks in that period. Its once-impregnable fortress is now under siege — notably from Birla Opus Paints, a new entrant backed by the Aditya Birla Group. Asian Paints' market share has fallen from 59% to 52% in FY25, according to Elara Securities. 'We strongly believe that as a brand we need to take calibrated action to ensure that we tackle the competition in a more sustainable way,' Asian Paints CEO Amit Syngle told investors recently. However, challenges persist. The company has reported subdued revenue growth for four consecutive quarters, attributing it to weak urban demand and an early Diwali. More worrisome is the pressure on margins—despite a decline in raw material costs, rising rebates and intensified competition have led to a year-on-year contraction in gross margins.
