Barclays Plc is scaling back its asset-based lending to smaller borrowers, according to people with knowledge of the matter, after the collapses of Market Financial Solutions Ltd. and Tricolor Holdings left the firm facing losses. The British bank is shifting its focus to loans and securitizations for larger corporates, said the people, who asked not to be identified discussing private information...
Barclays Plc is scaling back its asset-based lending to smaller borrowers, according to people with knowledge of the matter, after the collapses of Market Financial Solutions Ltd. and Tricolor Holdings left the firm facing losses. The British bank is shifting its focus to loans and securitizations for larger corporates, said the people, who asked not to be identified discussing private information. The bank has already pulled back from a number of deals and increased pricing to reflect higher perceived risks, one of the people said. A representative for Barclays declined to comment. The downfall of UK property lender MFS and US subprime auto company Tricolor have put a spotlight on lending to non-bank entities that fall outside of regulatory purview. Much of this lending is private, without input from ratings firms, and can be backed by various income-generating assets, such as credit cards, auto loans or mortgages. Banks often provide credit lines known as warehouse facilities to these nonbanks to fund their lending products, which are then packaged into asset-backed securities and sold to bond investors. Read More: Failed Lender MFS Exposes Regulatory Blind Spot in UK Mortgages Barclays reported it had £160.6 billion ($215 billion) of exposure to securitized assets as an originator or sponsor of such deals at the end of 2025, a slight decrease from the year prior, according to a financial filing . That includes loans to corporates and residential mortgages, among other assets. To be sure, Barclays frequently reworks lending portfolios to mitigate risk, and can adjust terms or collateral accordingly, one of the people said. Barclays could reverse course in the future if the risk profile changes, the person said. Banks have scaled up relationships to specialist lenders in recent years as a way of accessing high yields while staying within the stringent regulations put in place after the 2008 financial crisis. These often entail taking on the senior tranche of a secu...
Apple plans to launch paid advertisements on Apple Maps in the U.S. and Canada as part of a new Apple Business platform. The move positions Apple against Google in local digital advertising, using Apple Maps as a direct channel between businesses and nearby users. The initiative is designed to add a new services revenue stream while aligning with Apple's existing focus on user privacy. Apple (Nasd...
Apple plans to launch paid advertisements on Apple Maps in the U.S. and Canada as part of a new Apple Business platform. The move positions Apple against Google in local digital advertising, using Apple Maps as a direct channel between businesses and nearby users. The initiative is designed to add a new services revenue stream while aligning with Apple's existing focus on user privacy. Apple (NasdaqGS:AAPL) is trading at $251.64, with the share price up 13.0% over the past year and 115.5%...
TACO Vs TAW: Fade This (Equity) Rally Authored by Peter Tchir via Academy Securities, Ceasefire? The U.S., via Pakistan, and apparently consistent with negotiations being carried out by Witkoff and Kushner, has delivered a 15 point agreement for a ceasefire. Markets responded with oil down (Brent futures, at 5:30 am are back down below $100, from a high of $105 on Tuesday). Stock futures and treas...
TACO Vs TAW: Fade This (Equity) Rally Authored by Peter Tchir via Academy Securities, Ceasefire? The U.S., via Pakistan, and apparently consistent with negotiations being carried out by Witkoff and Kushner, has delivered a 15 point agreement for a ceasefire. Markets responded with oil down (Brent futures, at 5:30 am are back down below $100, from a high of $105 on Tuesday). Stock futures and treasuries are rebounding as well (even the 2-year, after the drubbing it took after yesterday’s auction noticeable for an absence of “direct” bids). Many of the Polymarket Strait of Hormuz “prediction” markets have barely moved in response to the ceasefire proposal announcement, fwiw. What to do? We Have Already Had Regime Change I think the most important thing said yesterday, was that the President, for the first time, made the case that the regime is so different (due to so many senior leaders being killed), there has been a regime change. We have argued, since day 1, that true regime change, without boots on the ground, etc., is difficult to achieve. Finding a powerful enough faction who wants to protect their own lives and those of their family, willing to make a deal to achieve that and retain whatever power and wealth, they currently have, seemed more plausible. While it is unclear who exactly the U.S. is negotiating with, it is important that the President has started to frame, whatever the new leadership structure is, in Iran, it meets “our” definition of regime change. TACO vs TAW We hear so much about “TACO” – Trump Always Chickens Out , that we don’t focus as much on the “TAW” – Trump Always Wins . The President frames every outcome as him winning . From Liberation Day to Greenland, his steps and the end result are framed as having won. To some degree, I think you can look at the series of social media posts and statements as “trial balloons” . Toss out an idea and see if you can convince enough people to see it as “victory” and move on. This may be a key component ...