Christian Stracke, Global Head
of Credit Research, offers an inside look at PIMCO's intensive credit research process and how it led the firm to invest in pipeline companies as oil reached its 2016 low.
I remember being in a meeting when I was a corporate bond manager, and the new head
of credit research said to the credit analysts, «Credit analysis is war by another name.»
He had subsequent stints as head of convertible strategies at Sterne Agee Group and head
of credit research in the convertible bond group at Thomas Weisel Partners LLC before joining Zeo in 2012.
Most large asset managers also employ dedicated teams
of credit research specialists.
Sectors are getting disrupted, «but you're not being paid for that risk» — Christian Stracke, Pimco global head
of credit research
Robert F. Thompson, president
of the Credit Research Foundation, expects to see an uptick in the DSO for the first quarter of 1991 and perhaps beyond.
Not exact matches
That includes doing market
research, developing a business plan, building a team and seeking outside funding — all
of which students will do for course
credit.
Krithika Subramanian,
research analyst at
Credit Suisse Private Banking, expects an influx
of foreign cash.
Vicki Bryan, senior analyst
of independent
research for bond - rating company Gim me
Credit, said Valeant's problems aren't over with the termination
of its relationship with Philidor.
«Airlines have started to charge for more things, but with an airline rewards
credit card, you can get things like your first bag checked free and priority boarding,» says Erik Larson, president and founder
of NextAdvisor.com, which provides consumer - oriented
research on
credit cards and other products.
According to
Credit Suisse, CTA funds — which concentrate on futures — were down 2.8 % in 2017 through the end
of July, while Hedge Fund
Research's commodity hedge fund index was down 0.9 % through the end
of July.
«Securing a home equity line
of credit, but not using it initially, is one way to give yourself easy access to money in case
of unemployment or big bills,» said Holden Lewis,
research analyst at NerdWallet.
Such risks, uncertainties and other factors include, without limitation: (1) the effect
of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels
of end market demand in construction and in both the commercial and defense segments
of the aerospace industry, levels
of air travel, financial condition
of commercial airlines, the impact
of weather conditions and natural disasters and the financial condition
of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization
of the anticipated benefits
of advanced technologies and new products and services; (3) the scope, nature, impact or timing
of acquisition and divestiture or restructuring activity, including the pending acquisition
of Rockwell Collins, including among other things integration
of acquired businesses into United Technologies» existing businesses and realization
of synergies and opportunities for growth and innovation; (4) future timing and levels
of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and
research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability
of credit and factors that may affect such availability, including
credit market conditions and our capital structure; (6) the timing and scope
of future repurchases
of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level
of other investing activities and uses
of cash, including in connection with the proposed acquisition
of Rockwell; (7) delays and disruption in delivery
of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits
of organizational changes; (11) the anticipated benefits
of diversification and balance
of operations across product lines, regions and industries; (12) the outcome
of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact
of the negotiation
of collective bargaining agreements and labor disputes; (15) the effect
of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect
of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act
of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability
of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition
of conditions that could adversely affect the combined company or the expected benefits
of the merger) and to satisfy the other conditions to the closing
of the pending acquisition on a timely basis or at all; (18) the occurrence
of events that may give rise to a right
of one or both
of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee
of $ 695 million to United Technologies or $ 50 million
of expense reimbursement; (19) negative effects
of the announcement or the completion
of the merger on the market price
of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation
of their businesses while the merger agreement is in effect; (21) risks relating to the value
of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability
of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
Reviewing data on major geopolitical events in the past 100 - plus years,
Credit Suisse's former head
of research and deputy global CIO Giles Keating and his team previously found that stocks generally bounced back after such shocks.
Last year, Giles Keating, the former head
of research and deputy global CIO at
Credit Suisse, and his team reviewed data on major geopolitical events in the previous 100 - plus years and found that stocks generally bounced back up after these shocks.
She noted that there is strong
research that indicates that the extra income the tax
credit gives to low - income families has significant long - term benefits for the children, improving their educational, health, and career outcomes, on top
of helping to mitigate immediate hardship.
But OPEC may be giving itself too much
credit, according to Matt Smith, director
of commodity
research at tanker - tracking firm ClipperData.
U.S. retailers get ripped off to the tune
of about $ 1.5 billion per year due to
credit card fraud, says Dennis Behrman, a
research analyst with Financial Insights, a Framingham, Massachusetts,
research firm.
Despite a grueling schedule that included working as a vice president in
credit research for Goldman Sachs, Blunden became one
of the most visible members
of his class.
A look at how small businesses can take advantage
of the
research and development tax
credit to cut their taxes and improve their bottom lines.
Argus
Research's Phil Weiss nailed the this afternoon's explosive reveal from Chesapeake Energy that cash and
credit concerns have forced them to delay selling off some
of their assets.
The move comes as the Hong Kong - based trader aims to rebuild investor confidence after a brutal commodities downturn coincided with a questioning
of its accounts in early 2015 by Iceberg
Research, sparking a collapse in its share price and ratings
credit agency downgrades.
The Senate further allows firms to accelerate alternative minimum tax or
research credits instead
of taking bonus depreciation, and includes film or videotape as property that qualifies for the depreciation.
' cents Investment
credits: The stimulus will extend generous bonus depreciation terms included in the 2008 stimulus through 2010, and extends accelerated alternative minimum tax or
research credits instead
of taking bonus depreciation.
According to these calculations, Mylan used more than $ 100 million
of «clean energy and
research» tax
credits in both 2016 and 2015, and around $ 95 million in 2014.
According to the Center for Automotive
Research, between 1998 and 2005 North America's auto industry enjoyed sales substantially above long - term trends, made possible partly by the «widespread availability
of sub-prime
credit.»
Still, according to Loretta Mester, director
of research at the Federal Reserve Bank
of Philadelphia, the use
of credit scores in lending decisions is rising — and is likely to continue to rise — with industry consolidation, as large banks that need automated processes to handle their heavy loan volumes continue to acquire small banks.
Research shows that people spend significantly more when using
credit cards instead
of cash.
Independent bond
research firm Gimmie
Credit downgraded the debt
of the giant chemical company on Tuesday, saying Peltz's pressure may end up forcing DuPont's executives to do something «materially harmful» to the company.
In terms
of overall fat consumption, we're ranked 12th on a list
of the top 20 countries who eat the most fat, according to a recent
research note from
Credit Suisse on dietary fat consumption and its health and market implications.
«Canada was identified as a best - practice jurisdiction,» the report, called The Future
of Canadian Manufacturing: Learning From Leading Firms, «because
of its low corporate tax rates,
research and development tax
credits, accelerated capital cost allowance and duty - free imports
of capital equipment.
The value - add model has been an increasingly popular and lucrative one in many regions
of the country in recent years, says Jack Mulcahy, a
credit risk analyst at CoStar, a commercial real estate market
research firm.
The cost
of the
credits to the federal government makes them controversial, however, says Joseph Rosenberg, senior
research associate at the Tax Policy Center, a non-partisan tax group run by the Urban Institute and Brookings.
Also potentially available to business owners this year is the
research and development tax
credit that expired at the end
of 2014.
During
research for my book, Making Ideas Happen, I was surprised by how many legendary creative leaders
credited some form
of therapy as a part
of their professional success.
According to BCA
Research, corporate
credit performance began to deteriorate after measures
of corporate balance sheet health and monetary conditions began to turn in a bearish direction in the latter half
of 2014.
December 2009 (1967 kb PDF file): The Q&A in this issue features seven questions about political influence and the financial crisis (by Deniz Igan, Prachi Mishra, and Thierry Tressel);
research summaries on «
Credit Conditions and Recoveries from Financial Crises» (by Prakash Kannan) and «Inflation Targeting in Emerging Economies» (by Turgut Kýþýnbay); the contents
of the latest issue
of IMF Staff Papers; a listing
of visiting scholars at the IMF during October — December 2009; and listings
of recent IMF Working Papers and Staff Position Notes
Until the PATH Act, the development
of internal use software was not eligible for the
research and development tax
credit.
The Capital Markets
Research Group provides data and research on credit and equity market signals of default risk and credit di
Research Group provides data and
research on credit and equity market signals of default risk and credit di
research on
credit and equity market signals
of default risk and
credit direction.
Nick Colas, co-founder
of DataTrek
Research, a market insight and research firm in New York, told me that people appear to be buying Bitcoin with their credit cards — a risky prop
Research, a market insight and
research firm in New York, told me that people appear to be buying Bitcoin with their credit cards — a risky prop
research firm in New York, told me that people appear to be buying Bitcoin with their
credit cards — a risky proposition.
Fostering innovation in the Canadian economy requires bringing a pro-innovation lens to a broad suite
of policies that go well beyond the mainstay
of providing businesses with
research and development tax
credits.
These included the Working Income Tax Benefit, the Refundable Medical Expense Supplement, the Canadian Film or Video Production Tax
Credit, the Canadian Film or Video Production Services Tax
Credit, the Scientific
Research and Experimental Development Tax
Credit for Canadian - Controlled Private Corporations and the refundable portion
of the Atlantic Investment Tax
Credit.
Airbnb has raised more than $ 3 billion and secured a $ 1 billion line
of credit, according to the
research firm CB Insights.
Bloomberg View columnist Barry Ritholtz interviews Matthew Rothman, the head
of global quantitative equity
research at
Credit Suisse and a senior lec...
June 16, 2016 Comparing the administration
of the Canadian Scientific
Research and Experimental Development (SR&ED) tax
credit program to the UK R&D tax
credit program: Public Policy Advocacy validated
Corrum Capital's team is comprised
of investment professionals with significant experience in direct investing, as well as
research,
credit underwriting, capital markets, endowment management, and corporate finance.
The Bank's
research on small businesses» use
of and access to
credit is intended to inform a variety
of community stakeholders,» said Kausar Hamdani, senior vice president and Community Affairs Officer at the New York Fed.
From 1968 to 2002, Tony was chairman, chief executive and editor - in - chief
of Montreal - based BCA
Research (previously known as BCA Publications), publisher
of, among others, the highly regarded Bank
Credit Analyst, a monthly big - picture analysis
of the U.S. economy and financial markets.
NDP commitments include a two point cut in the small business tax rate (already implemented by the Conservatives); extension
of the accelerated capital cost allowance for two years (already implemented by the Conservatives (but with a different phase in); an innovation tax
credit for machinery used in
research and development; an additional one cent
of gas tax for the provinces for infrastructure; a transit infrastructure fund; increased funding for social housing; a major child care initiative; and, increasing ODA funding to 0.7 per cent
of Gross National Income (GNI).
Relative value is the cornerstone
of our
research - driven approach with significant time allocated to proprietary
credit, economic and risk analytics.