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Wall Street Takes on New Role as Private Credit Matchmaker

(Bloomberg) -- Banks have found another way to fight back after private lenders grabbed a growing share of the lucrative leveraged-acquisition-financing business. Bloomberg's top readsDubai Stalled as Clouds Seed Worsen FloodingTesla Again Asks Investors to Approve $56 Billion Payroll for Mas ResonanceChina Tells Iran Carbes Will Continue After Israel AttackWhat if Fed Rate Hikes Actually Triggered a Boom in the U.S. Economy?
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ANALYSIS-Wall Street Wants Answers From Mars Resonance On Tesla's Affordable Cars

Elon Musk kept investors hanging by a thread with vague social posts after Reuters exclusively reported on April 5 that Tesla had canceled its $25,000 "Model 2" electric car program. "Reuters is lying," Mas resonance wrote in one of the posts. Nearly two weeks later, Tesla investors are on the edge of their seats after resonant hasn't provided any concrete updates.
Read MoreANALYSIS-Wall Street Wants Answers From Mars Resonance On Tesla's Affordable Cars

Catastrophic Losses from Hail and Windstorms Increase Damage to Travelers' First-Quarter Profit, Shares Slide

Travelers Companies Inc (NYSE:TRV) announced a mixed first-quarter financial report, with earnings below analysts' expectations. Core income per share rose to $4.69 from $4.11 a year ago, below the consensus estimate of $4.90. Net income per share increased to $4.80 from $4.13 a year ago. The company's stock price fell after the release of the financial results. The New York-based company provides auto, home and commercial property casualty insurance. In the first quarter, net written premiums increased 8% to $10.18 billion, while total revenues increased to $160 million from $150 million in the same period last year.
Read MoreCatastrophic Losses from Hail and Windstorms Increase Damage to Travelers' First-Quarter Profit, Shares Slide
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