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The Latest Breaking News from First Brands

SEC Opens Civil Probe Into Jefferies Over $12B First Brands Collapse

The U.S. Securities and Exchange Commission is investigating Jefferies Financial Group Inc. (NYSE:JEF) over whether the investment bank adequately informed investors about its exposure to First Brands Group, the now-bankrupt car parts supplier whose collapse triggered widespread scrutiny across the private credit sector.

Benzinga

‘Shadow banking’ could lead us into an apocalypse like 2008

Alarm bells are ringing about the private credit market and ‘cockroaches’ in the system — the time to act is now, says Chris Blackhurst

Evening Standard

Big Banks Are Setting the Tone as Earnings Season Kicks Off

Despite risks in private credit, the financials sector is largely insulated as the big banks proved when earnings season kicked off last week.

MarketBeat

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3 Regional Bank Stocks That Crushed Q3 Earnings

Regional banking concerns were making headlines as earnings season began, but Q3 results have calmed the market, especially those from these 3 companies.

MarketBeat

Barclays can afford Tricolor loss but risks remain in the private credit market

Risky lending in an opaque, complex and leveraged part of the financial world is ringing alarm bells

The Guardian - UK

Barclays plays down £20bn exposure to private credit industry

CEO says bank has ‘right controls’ in place despite warnings about industry from IMF and Bank of England

The Guardian - UK

Bank of England chief warns of ‘worrying echoes’ of 2008 financial crisis

Andrew Bailey says a close look is needed at the private credit market after collapse of two big US firms

The Guardian - UK

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Wall Street might be panicking over private credit, but insiders can’t see what all the fuss is about

Some say this is more about mudslinging between private credit’s competitors and a misunderstanding about direct lending.

Fortune

Why credit risks are jarring Wall Street

With investors already on edge, any additional credit hiccups could prompt a new round of selling.

Axios

What is private credit, and should we be worried by the collapse of US firms?

First Brands and Tricolor failures raise concerns for wider financial sector, including traditional banks

The Guardian - UK

Top investment bank CEO says he was ‘defrauded’ by the bankruptcy that’s rattling Wall Street. Famous short-seller sees an Enron moment

“My antenna goes up when things like that happen,” Jamie Dimon said of First Brands. “When you see one cockroach, there are probably more.”

Fortune

Jefferies Financial Shares Are Trading Higher Friday: What's Going On?

Jefferies Financial Group, Inc. shares are trading higher Friday following reports suggesting that its fund connected to First Brands is separate from its investment banking business

Benzinga

Is Crisis Brewing Again? Regional Bank ETF Flashes Red As Shutdown Reaches Week 3

Following a temporary lull, the regional bank storm has returned. On Oct. 16, the SPDR SP Regional Banking ETF (NYSE:KRE) tumbled 6.2%, its biggest one-day decline since early 2023.

Benzinga

‘Finances are getting tighter’: US car repossessions surge as more Americans default on auto loans

Wall Street sounds alarm over strain throughout car lending market as experts warn of potential risks for wider economy

The Guardian - US

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The Guardian - UK

Bank shares lead global market fall amid jitters over US private credit

Signs of credit stress send markets in Europe and Asia down, while investors turn to safe haven assets

Benzinga

OWL Co-CEO Claps Back On Jamie Dimon's 'Cockroach' Remark: 'Might Be A Lot More Cockroaches At JPMorgan'

A war of words has erupted over the health of the U.S. credit markets, with Blue Owl Capital Inc. (NYSE:OWL) co-CEO Marc Lipschultz firing back at a stark warning from JPMorgan Chase Co. (NYSE:JPM) CEO Jamie Dimon.

The Guardian - US

US regional bank stocks fall amid Wall Street concern over credit markets

Zions and Western Alliance reveal problems with bad loans as scrutiny of regional banks’ lending practices increases

The Guardian - UK

Head of IMF says risks in private credit market keep her awake at night

Kristalina Georgieva urges vigilance over ‘very significant shift of financing’ after collapse of Tricolor and First Brands

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Fortune

Jamie Dimon issues private credit warning: ‘When you see one cockroach, there are probably more’

JPMorgan CFO Jeremy Barnum said: “A lot of the private credit actors are large, very sophisticated, very good at credit underwriting. So I don’t think … that there are necessarily lower standards there or a huge systemic problem.”

The Guardian - UK

JP Morgan boss says more ‘cockroaches’ will emerge after private credit sector failures

Jamie Dimon expects further weak links in ‘shadow banking’ sector to be revealed after collapse of two US firms

Benzinga

Billion Dollar Auto Supplier Went Poof—What You Need To Know About First Brands Catastrophe

When $11.6 billion vanishes in a matter of weeks, Wall Street sits up and takes notice. That's the fallout from First Brands, the Rochester, Michigan-based auto parts supplier whose bankruptcy has become a cautionary tale of opaque financing, missing payments, and potential fraud.

The Guardian - US

First Brands: why a maker of spark plugs and wiper blades has Wall Street worried

Investors fear that the collapse of the car parts company – and the size of its debt – could portend wider problems

Benzinga

The Economy Is In A 'K Shape' — Here's What That Means For Your Money

Wall Street continues to break records while signs of stress mount for everyday Americans, underscoring the K-shaped nature of the U.S. economy—where the top climbs higher while the bottom stagnates or falls behind.

Benzinga

Jefferies Exposed To $715 Million In Collapsing First Brands Debt, Analyst Warns Of Fallout

While tech stocks rocket to new highs and Bitcoin rallies, Jefferies Financial Group (NYSE:JEF) just disclosed a potential mess that should be sending up red flags across Wall Street.

Benzinga

Hedge Funds Are Selling Like Never Before — Should You Worry?

It’s a historic moment for markets, with stocks, gold and Bitcoin all marching to record highs as Wall Street fully embraces the AI boom and bets on continued dollar weakness fueled by rate-cut expectations.

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