Debt downgrades at a record high

Mutual funds have large exposure to such instruments thereby impacting NAVs The recent downgrades of debt papers of well-known conglomerates are not isolated instances as the current year has seen a record in terms of the number of such downgrades of debt instruments. Data from Prime Database shows there have already been 163 instances of such downgrades in the current […]

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J.P. Morgan’s Daniel Pinto: ‘If you don’t invest in technology, you will be priced out’

J.P. Morgan Chase CEO Jamie Dimon isn’t retiring anytime soon. But last year, noting the importance of a succession plan, he promoted two executives to co-president and co-chief operating officer, including Daniel Pinto, whose tenure at the bank and its predecessor companies dates back to the age of 19. That 37-year run started in Pinto’s native Argentina, where he worked […]

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Tesla shareholder meeting is a ‘fork in the road’ for the car maker

Tesla Inc.’s annual shareholder meeting next week presents a “fork in the road” for the Silicon Valley electric-car maker, beset by concerns about demand for its vehicles and the health of its balance sheet. Tesla’s meeting is scheduled for Tuesday at 2:30 p.m. Pacific. It will be webcast. After hitting multi-year lows in recent sessions, Tesla TSLA, -0.58% shares recouped some […]

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Fitch cuts rating of Mexico’s troubled Pemex

MEXICO CITY — Fitch Ratings downgraded Mexico’s highly indebted state oil company Petróleos Mexicanos, stripping it of its investment-grade rating. The cut to BB+ from BBB- followed Fitch’s downgrade Wednesday of Mexico’s sovereign credit rating to BBB from BBB+. The ratings firm lowered Pemex by two notches in January. Pemex’s outlook remains negative, reflecting the potential for further deterioration in […]

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Medicine Man Technologies to sell up to $14 million of stock to PE firm Dye Capital

Medicine Man Technologies Inc. MDCL, +9.43% said Thursday it has entered a share sale agreement with private-equity firm Dye Capital & Co. for up to $14 million. The Denver, Colorado-based company will use the funds to finance growth and pending acquisitions, that include research and phytopharmaceuticals company Medicine Man Denver, Los Sueños Farms and cannabis products maker Mesa Organics. Two […]

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Red Robin Gourmet Burgers adopts shareholder rights plan

Red Robin Gourmet Burgers Inc. RRGB, +4.17% said Wednesday its board has adopted a shareholder rights plan, a move aimed at protecting the company from an unwanted takeover bid. The fast-casual restaurant chain is currently searching for a chief executive and seeking to execute a strategic plan to position the company for long-term growth. On Tuesday, Vintage Capital said in […]

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