tranche. the government is still committeed to selling down the entire stake in natwest by the end of the 2025-2026 financial year so by that time it will be over 18 years since the bailout of the royal bank. and i expect it won t make a great deal of difference in the great scheme of things, with natwest, the direction of travel has been quite clear for quite a while now but nonetheless a symbolic moment with the turn-around in the bank s fortunes. and barclays has admitted that it is going to take a 450 million pound hit, as a result of a mishandled bond sale. it goes from bad to worse really for this bank, obviously, it s had a fairly tumultuous few years, capped recently by last year s resignation of the former chief executive. ian, thank you. a quick look at what is happening as far as the weather is concerned.
North American Morning Briefing: Stock Futures -2-
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McLaren Bonds Draw Billions in Investor Demand
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Donald Trump, Facing $590 Million in Debt Payments, Gets $617 Million From Property Deal
On 5/1/21 at 10:02 AM EDT
Former President Donald Trump, who reportedly has $590 million in debts due over the next four years, is set to receive a $617 million cash payout as part of a bond deal made by Vornado Realty Trust, his longtime majority-stake partners.
Trump apparently scored the massive $600-million plus in cash after investors bought up $1.2 billion of bonds tied to the refinancing of a San Francisco office tower, 555 California. Trump has a 30 percent minority stake in the building, which makes up a massive portion, as much as $800 million, of his entire net worth. Because Vornado holds the majority stake, Trump doesn t have any control over the two properties he owns with them, the second being 1290 Avenue of the Americans in New York City. The windfall he stumbled into comes at a great time for Trump, analysts said, because numerous banks and businesses cut ties with him in t
Italy drew record demand with a two-part bond sale on Tuesday, riding investor enthusiasm at the appointment of former European Central Bank chief Mario Draghi as prime minister.
Italy sold a 10-year nominal bond and a 30-year inflation-linked bond that attracted more than 134 billion euros ($163 billion) in orders, the most ever for an Italian syndicated debt issue, one of the banks managing the issue said. Italy s 10-year bond yields fell to a record-low last week after head of state Sergio Mattarella asked Draghi to form a new government. After weeks of political uncertainty, markets cheered the prospect of the trusted former central banker taking over at a time when Italy is grappling with a resurgent COVID-19 pandemic and its worst recession since the end of World War Two.