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Exeter Finance Files for IPO, Expects to Raise $100M

Subprime lender Exeter Finance Corp. filed for an initial public offering to gain a larger marketshare in the “fragmented” auto finance industry, the company said in a Jan. 8 regulatory filing with the U.S. Securities and Exchange Commission. Blackstone-backed Exeter expects to raise $100 million in the IPO, the filing notes, though the timing of […]

Interest Rates, Labor Constraints Threaten to Derail Near-Historic Expansion, Economist Says

LAS VEGAS — Shifting monetary policy, a tight labor market, and a host of other challenges threaten to disrupt the second-longest business expansion in U.S. history, said Robert Dye, senior vice president, and chief economist at Comerica Bank, in a session yesterday at the 18th Annual Auto Finance Summit. The current business cycle has been in […]