The Institute for Supply Management said growth in the non-manufacturing sector slowed in November, with respondents’ comments generally indicating a positive outlook for the upcoming months.
Revere Finance, a new provider of capital to small and middle-market businesses nationwide, said it is now available to make loans up to $10 million, specializing in senior secured asset-based lending.
Fitch Ratings said according to its U.S. structured finance 2014 outlook report, U.S. structured finance is poised for a stable outlook in 2014, though numerous external factors may stunt performance in the coming year.
According to the Fed’s Beige Book, the economy expanded at a modest to moderate pace from early October through mid-November, with manufacturing continuing to grow in most districts.
Wynnchurch Capital announced the sale of Safety Technology Holdings to Golden Gate Capital. Harris Williams served as the financial advisor and Foley & Lardner served as the legal advisor.
Reuters reported the U.S. Federal Reserve said it approved new capital plans by Goldman Sachs and JPMorgan Chase, after initially ordering the banks to fix flaws in their capital planning processes.
Bloomberg reported that six international banks were fined a record $2.3 billion by the European Union for rigging rates linked to LIBOR.
AloStar Business Credit announced it provided a senior secured credit line and term loan to Murry’s. Terms of the senior secured credit line and term loan were not disclosed.
The Institute for Supply Management said economic activity in the manufacturing sector has increased progressively each month since June, with November’s reading reflecting the highest index reading in 2013.
Deloitte Corporate Finance announced its role as the financial advisor to Associated Hygienic Products in DSG International Limited’s sale of AHP to Domtar.