Bloomberg Business

Carvana Shares Plunge on Quarterly Loss, Analyst Warnings

The walls are closing in on online used-car dealer Carvana Co., whose disappointing quarterly results sent the stock into freefall Friday and triggered a string of warnings from analysts, with JPMorgan dealing the harshest blow.

Private Credit Firms Are Muscling Into Consumer Lending

Private lenders have spent the last five years making ever larger loans to junk-rated companies, grabbing leveraged lending deals away from banks. Now the direct lenders are muscling in on funding consumer loans, cutting into banks’ asset-backed securities business.

Intense Ice Storm in Michigan Triggers Widespread Blackouts

More than 720,000 homes and businesses in Michigan still didn’t have power Friday morning after an extreme ice storm tore down thousands of electricity lines, snapped utility poles and toppled trees earlier in the week, according to PowerOutage.us, which tracks outages across the US.

Close Bitnami banner
Bitnami