#corporate-debt

#corporate-debt

Private equity giant Carlyle has thrown a £150m lifeline to online retailer Very - just as mounting debt threatens to sink the company. Sources say the refinancing deal will keep Very afloat, giving breathing space to a business grappling with sky-high borrowing costs, fierce competition, and a cash-strapped consumer market. An insider commented: "Without this deal, Very could have faced serious trouble. Carlyle is betting big to save its investment - the stakes couldn't be higher."

Warren writes that she is worried OpenAI "has committed to more than a trillion dollars in spending despite not yet turning a profit" and "appears to be seeking government assistance should it prove unable to pay its bills."

In late 2024, Saks Global executive chair and controlling shareholder Richard Baker, a real estate scion, landed his dream trophy in Neiman Marcus (which also owned Bergdorf), achieving his long-held ambition to combine the U.S.'s fanciest luxury department stores into one company. To pull this off, Saks Global borrowed $2.7 billion, an untenable debt load that has put the company on the precipice of a bankruptcy protection filing, or at least a major refinancing.

But some analysts are starting to worry about how much of that growth is concentrated in AI.A recent note from Pantheon Macroeconomics said that private fixed investment-a measure of how much companies are spending-"is rising only due to AI-related spending." Analyst Oliver Allen published a chart this morning showing that all other private fixed investment is actually in decline: "Capex intentions remain depressed, suggesting investment outside of AI-linked sectors remains weak," he told clients in a note seen by Fortune.

Evoke, the heavily indebted gambling group that owns William Hill in the UK as well as the 888 brand, has put itself up for sale as it grapples with rising costs and regulatory pressure. The company said it is undertaking a review of its strategic options, which includes the possibility of selling the business. Investment banks Morgan Stanley and Rothschild have been appointed as joint financial advisers to oversee the process,

In the absence of macro jobs data due to the U.S. government shutdown, traders are piling into AI stocks, ING told clients this morning. "Financial market volatility is falling across the board, partly driven by the US government shutdown and the delay to key data releases such as the September jobs data. Instead, investors remain transfixed by the AI-driven rally in megacap tech shares, which shows no signs of slowing."

Nigerian equities have shown resilience with the NGX All Share Index nearing the 122,000-point mark due to positive performances in electronic technology and producer manufacturing.