The buildup of debt is a "coming attraction" for those who invest in distressed companies.
That is according to Howard Marks, the billionaire cofounder of Oaktree Capital Group, who was speaking on The Bloomberg Advantage podcast with Carol Massar and Cory Johnson.
Marks built his career largely on buying bonds of companies that have run into trouble. Oaktree, the company he cofounded, now manages $97 billion.
"At the present time there are very few great opportunities for distressed debt becaus
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-
BILLIONAIRE INVESTOR: Distress is a 'coming attraction'
-
A big oil and gas company just withdrew its IPO
Freeport-McMoRan has withdrawn the IPO of its oil and gas unit.
The mining company filed for the stock offering in June 2015.
"At this time the Company has determined not to proceed with the initial public offering contemplated by the Registration Statement," the company said in a filing on Friday.
The company had planned to list Class A common stock on the New York Stock Exchange.
The company has reported six straight quarterly losses, according to Bloomberg.Join the conversation -
Everyone's totally overthinking an auto-loan 'bubble'
If you follow the car industry, then you know that in the past two years a lot of red flags have been raised about loosening auto-lending standards.
At first, all the worry was focused on so-called subprime loans, in which the borrower has a less than great — but often not terrible — credit score. Basically, anything under a 640 FICO, with truly "prime" being borrowers who are in the 750 ballpark.
Comparisons were made with the housing-market meltdown, but subprime home lending -
Driverless cars will change everything — and could be disastrous for one industry
Technology is changing the way we drive, and it's about to mean we won't have to drive our own cars at all.
Already, Tesla has rolled out software that has its cars driving themselves, with human supervision, and Google is also testing out self-driving cars.
Traditional automakers are also in the race and cities are already preparing for a future — with places like Dubai aiming for a quarter of all cars to be driverless by 2025.
But the technology isn't just going to c -
Traditional finance firms are about to be slammed by a 'perfect storm'
FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.
Traditional finance firms are about to be slammed by a "perfect storm" (FA Magazine)
"A perfect storm of technology, regulation and demographic changes is dramatically changing the value proposition traditional financial firms provide," reports Karen Demasters, citing Michael Foy, the director of wealth management practice at J. D. Power.
“The convergence of self- -
This is the 'world's cheapest currency'
It's the Polish zloty.
So just how undervalued is the zloty? According to Deutsche Bank's Global FX Research team, led by Alan Ruskin and George Saravelos, the currency is "extremely cheap" and undervalued by about 10%.
Poland's economy expanded 3% year-over-year in the first quarter, and while that was the weakest growth in more than two years, economists maintain a favorable outlook on the country's future.
DB says the macro outlook for Poland is "robust," pointing to -
The government is taking aim at companies that fudge their numbers
The difference between GAAP and non-GAAP earnings has been widening over the past few years, and the US Securities and Exchange Commission is stepping in.
To recap, non-GAAP earnings are profits that don't include one-time negative occurrences. Companies argue that this is a way to present earnings that are more accurate to the underlying business. Critics, however, say that this obfuscates the reality of the company. Basically, you can't just strip out the bad things and pretend that everything -
One of the fastest-growing mobile developers in the world is getting decimated right now
Cheetah Mobile, a Chinese mobile Android-app developer, is down 12% in Friday's trading day after a brutal week that saw the company's stock price fall 30%.
The stock fell on slower than expected revenue and user growth as expenses and the cost of revenues climbed. It also guided Q2 revenue estimates lower than Wall Street analysts expected.
Sheng Fu, Cheetah Mobile's CEO, said:
Our analysis suggests that there are three key reasons for the weakness in our expected mobile revenues growth, which -
Here's exactly how much America's biggest companies bent the truth about earnings this year (DIA)
Corporate America has been playing a lot of games with earnings.
In the first quarter of this year, 19 of the 30 corporate giants that make up the Dow Jones Industrial Average reported two earnings numbers: GAAP and non-GAAP.
GAAP — short for earnings that follow Generally Accepted Accounting Principles — are considered the "raw" numbers that include things many managements ought to be seen-through by investors: charges related to divestitures, acquisitions, foreign-curre -
The housing crisis is great news for America
There's a part of the new housing crisis that tells us good news about the US economy.
Right now, inventory levels are not enough to service potential homebuyers in many markets.
This imbalance has contributed to a rise in home prices that is locking many out of homeownership. San Francisco is probably the poster child of this problem.
But the demand side of the equation is reason to remain bullish on the outlook for the housing market.
On Friday, the National Association of Realtors said that&n -
Stocks are rallying on a quiet day for data (SPY, SPX, DJI, IXIC, USO, WTI, OIL, VDE, BNO)
Stocks opened higher on Friday, a quiet session for data, and one day short of one year since they hit all-time highs.
Near 1:28 p.m. ET, the Dow was up 83 points (0.48%), the S&P 500 was up 13 points (0.68%) and the Nasdaq was up 58 points (1.24%).
Saturday would mark one year since the S&P 500 reached an all-time closing high of 2,130.82.
The Dow and S&P 500 have closed down on a weekly basis for the last three weeks.
In early afternoon trading, the Dow was t -
Hillary Clinton's campaign just tweeted a chart that will make math majors cringe
Democratic presidential frontrunner Hillary Clinton's campaign attempted to make an interesting point about gun regulations on Friday. It ended up tweeting out an incredibly poorly designed and ultimately confusing chart.
The chart appears to be based on the idea of a Venn diagram, a very common chart used to illustrate the overlap between two sets. Clinton's campaign seems to be trying to argue that there is a big overlap between gun owners and Americans who support background checks for gun pu -
Creative Recruitment: Online Merchandiser
£28000 - £30000 per annum:Creative Recruitment:
Our client is an independent full-service creative & technology based agency. They have offices in Europe and continuing to grow. They are looking for a Online Merchandiser to join their team.
London -
Gemini People: Freelance Hybrid Senior Account Manager / Project Manager
£200 - £300 per annum:Gemini People:
THE OPPORTUNITY
* Freelance Hybrid Senior Account Manager/Project Manager Opportunity
* London Based Design + Brand Studio
* Augmented Reality + Experiential focused role
* Start 30th May for 2 months
* £200 - £300 per day
London -
Carlsberg considers reselling a 133-year-old lager as it looks to reclaim its ‘craft beer’ heritage
As part of the campaign, the beer brand has produced 30 beer bottles that replicate the very first Carlsberg lager. The bottles were produced using the original pure yeast and exact same recipe, ingredients and brewing techniques as in 1883.
By signing up online, consumers are able to try the beer in tasting sessions that will take place in all of Carlsberg’s major markets. The brand is also releasing a 45-minute documentary showcasing how it brewed the batch and it is hoping streaming se -
Online Resourcing: Digital Brand Manager – Natural Healthcare Products
Competitive salary + benefits :Online Resourcing:
A fascinating dual role combining Digital Strategy and Brand Management with Faith in Nature
Manchester, North West -
DNA Recruit: Creative Director - Global Communications Agency - China
£80000.00 - £100000.00 per annum:DNA Recruit:
A global communications agency are looking for a passionate Creative Director to join their Shanghai office.
Shanghai -
Disney, TSB and Visa on why marketers need to be more forward-thinking
Speaking at the launch of the Marketing Society’s Manifesto for Marketing Leadership (May 19), Visa Europe’s executive director of brand and central marketing Gary Twelvetree told marketers to act more like entrepreneurs and to think in three year cycles.
He explained: “If you think about the people running Android Pay and Apple Pay, those guys are entrepreneurs. They’re not thinking about the day to day stuff, they’re thinking about how you crack a market in t -
Twitter signs up EE and bet365 for Amplify as it continues to grow its ‘live sports pedigree’
Working with BT Sport, the EE deal will mean Twitter can show instant highlights from Saturday’s (21 May) FA Cup Final between Crystal Palace and Manchester United.
Bet365, meanwhile, sponsors ITV’s live international football coverage and its Amplify deal will give Twitter live access to highlights from this weekend’s broadcast of the England vs Turkey friendly.
The popularity of Amplify, which launched in 2013 and gives brands the opportunity to publish real-time in-tweet vid -
Brand Recruitment: Events Coordinator
£18000 - £19000 per annum:Brand Recruitment:
Events Coordinator, Northampton -An exciting opportunity has just became available for an Events Coordinator to join a leading charity in the Northamptonshire area.Northampton -
Gabriele Skelton: Senior Account Manager, packaging + branding agency, London
£38000 - £40000 per annum:Gabriele Skelton:
Expert Senior Account Manager for Centrally located consumer branding design agency, to work with a dedicated team of brand thinkers and bright sparks
London -
Vitamin T: Digital Community Executive
£23000 Per annum :Vitamin T:
Our client is a price comparison website-based business specialising in financial services. The website enables consumers to compare prices on a r...
London -
Iceland on why brands must turn to vloggers and abandon conventional celebrity partnerships
Partnering with mum-only vlogging social network Channel Mum, the new TV campaign (which breaks on 23 May) will continue Iceland’s ongoing Power of Frozen marketing slogan with a series of new TV ads showing the reactions of real-life mums discovering Iceland food for the first time. The campaign will also be supported with digital, OOH and print activity.
Many of the video ads, which are stylistically similar to the Lidl Surprises campaign, show the vloggers and their families unaware of -
‘Customers are putting their money where their mouth is when it comes to sustainability’ says Unilever’s Weed
Weed said that the strong performance of its sustainable brands is down to them “offering something that consumer want”. Additionally, sustainability is helping to deliver more growth and lower costs, as well as less risk and more trust.
He told Marketing Week: “Our research is clearly showing us that consumers want to buy more sustainably, and many of them already are. This is important because there has always been something of a say-do gap when talking about buying sustainab -
‘Customers are putting their money where their mouth is when it comes to sustainability’ says Unilever’s Keith Weed
Weed said that the strong performance of its sustainable brands is down to them “offering something that consumer want”. Additionally, sustainability is helping to deliver more growth and lower costs, as well as less risk and more trust.
He told Marketing Week: “Our research is clearly showing us that consumers want to buy more sustainably, and many of them already are. This is important because there has always been something of a say-do gap when talking about buying sustainab -
‘Consumers are putting their money where their mouth is when it comes to sustainability’ says Unilever’s Keith Weed
Weed said that the strong performance of its sustainable brands is down to them “offering something that consumers want”. Additionally, sustainability is helping to deliver more growth and lower costs, as well as less risk and more trust.
He told Marketing Week: “Our research is clearly showing us that consumers want to buy more sustainably, and many of them already are. This is important because there has always been something of a say-do gap when talking about buying sustaina -
Red Sofa London: Architecture Assistant
£28000 - £32000 per annum:Red Sofa London:
Fantastic opportunity to work with a collaborative design studio.
City of London -
How IHG is using programmatic to disrupt the travel industry
Last year IHG began analysing how people book hotels and found a 20% shift away from booking directly to using third party websites. The moves comes as sites such as Booking.com and Expedia increase in importance as people hunt for the best prices.
Yet IHG believes there is a misconception that booking through these sites is cheaper. And so it set out to dispel the myth, with a programmatic campaign that showed ads to potential customers so that when they searched for a specific hotel -
Spectrum Brands: European Assistant Product Manager
Competitive+ Benefits:Spectrum Brands:
To develop new products to profitably grow the dry and wet pet food business across Europe in terms of value sales and market share
UK Office: Surrey / West Byfleet -
DNA Recruit: Senior Account Director - Experiential Agency - London
£55000 - £70000 per annum:DNA Recruit:
An Experiential agency who are experts in creating unforgettable immersive experiences need a Senior Account Director who speaks German to head up a team.
London -
MCG Associates: Social Media Designer - Dubai
GBP45000/year tax free plus bens and relocation:MCG Associates:
Our client is looking for a Social Media Designer to work in Dubai. The Designer will need to inspire original and unique content.....
Dubai (Emirate) (AE) -
MCG Associates: Managing Director - Global Healthcare Advertising Agency - Dubai
Attractive Tax Free Salary:MCG Associates:
Managing Director position leading the Healthcare agency of a global network in Dubai.
Dubai, UAE -
Elizabeth Norman International: Digital Brand Strategy Director
£70000 - £105000 per annum + Bonus & Benefits:Elizabeth Norman International:
Are you a digital director who is an brand expert? We're working with a brand strategy consultancy who are looking for a Digital Strategy Director
London -
Elizabeth Norman International: Category Manager
£30000 - £450000 per annum + Bonus & Benefits (including Car):Elizabeth Norman International:
We are working with one of the most recognisable brands in Britain who are looking for a senior category manager to join their inspirational team.
St. Albans -
UK consumers trust domestic brands
LONDON: Authenticity is a quality brands are often told they require, especially in regard to Millennials, but few people in the UK regard brands as being authentic, although they are more likely to trust domestic brands than international ones. ... -
Time to rethink DRTV
LONDON:Direct response TV (DRTV) advertisers should consider moving more of their budgets to later dayparts in order to take advantage of typical TV-watching habits, a leading industry figure has said. Writing in the current issue of Admap, Jane... -
Sharing economy bypasses most Americans
WASHINGTON, DC: Many Americans remain untouched by – and unaware of – several much-heralded aspects of the new digital economy, new research has shown.A national Pew Research Center survey of 4,787 American adults looked at the impact of the... -
Judi Patton: ACCOUNT MANAGER x 2 – EXPERIENTIAL agency – salary dependent on experience.
dependent on experience:Judi Patton:
Two ACCOUNT MANAGER roles, EXPERIENTIAL agencies based in North and South London. One perm and the other to cover maternity leave for up to a year.
London (Greater) -
Heady Topper taps changing tastes
NEW YORK: Drinking habits have undergone a profound "sea change" that large brewers will find difficult to overcome, according to the co-founder of Heady Topper, the iconic craft beer.John Kimmich created Heady Topper – which has been called the... -
Greene Media Network: PROJECT MANAGER - Production/Creative team
Up to 26K + Great Bens:Greene Media Network:
Opportunity be part of at the Creative and Production arm of a Global Planning/Buying OOH Media AgencyLondon (Central), London (Greater) -
Dragonfly Recruitment: Sales & Marketing Co-ordinator B2B Exhibitions
£20000 - £22000 per annum + bonsu + bens:Dragonfly Recruitment:
You will be providing support to the sales, marketing, operations and conference teams and will require strong organisational skills, excellent attention to detail and the ability to work under pressure.
London -
Dragonfly Recruitment: Events Assistant - B2B Exhibitions
£20000 - £22000 per annum + bonsu + bens:Dragonfly Recruitment:
You will be providing support to the sales, marketing, operations and conference teams and will require strong organisational skills, excellent attention to detail and the ability to work under pressure.
London -
Chinese brands outshine global
BEIJING: Chinese FMCG brands account for three quarters of shopper decisions, according to a new study, making it the market most disposed to local brands in the world. The 2016... -
Asian American spending to top $1tr
NEW YORK: Asian Americans constitute the fastest-growing population segment in the US and are expected to contribute more than $1 trillion in consumer buying power by 2020, according to a new study.A Nielsen report, -
APAC marketers face numerous challenges
HONG KONG: Better mobile creative and cross-screen measurement are two of the biggest challenges facing marketers in Asia Pacific, according to an industry figure.Kevin Huang, CEO of online ad sales firm Pixels (recently acquired by Gravity4),...
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