UK Economy Contracts For First Time Since 2012

The UK economy unexpectedly contracted for the first time in more than six years in the second quarter, fueling fears of a recession even ahead of Brexit due for October 31. Gross domestic product fell 0.2 percent sequentially, partly reversing the first quarter’s 0.5 percent growth, a first estimate from the Office for National Statistics showed Friday. GDP was forecast to remain unchanged. The Bank of England had also projected a flat growth for the second quarter. On an annual basis, the economy grew at a slower pace of 1.2…

Oaktree’s Marks on Loans, Distressed Investing, Fed Policy

Date: 2019-08-08 15:13:19 Aug.08 — Howard Marks, co-founder and co-chairman at Oaktree Capital, discusses a $1.8 billion loan made by Apollo Global Management LLC, opportunities in distressed investing, and his take on Federal Reserve policy. He speaks with Bloomberg’s Erik Schatzker on “Bloomberg Daybreak: Americas.”

Spandana Sphoorty IPO: Growth potential, low NPAs make Spandana a good buy

ET Intelligence Group: Spandana Sphoorty Financial, a microfinance company, plans to raise Rs 400 crore by issuing fresh equity shares to increase the capital base and for general corporate purpose. The promoters will also sell a portion of existing shares worth up to Rs 801 crore. The company runs a high growth business with strong financial parameters compared with some of its peers. Given a reasonable valuation, long-term investors may consider the issue. BUSINESS AND FINANCIALSThe company was incorporated in 2003 in Hyderabad with Andhra Pradesh (AP) as the major…