Today: 20.02.2018
News
Opinion
Business
Living
Metro
Tech
Sport

Last News

02:50
Today
02:15
Today
00:39
Today
00:30
Today
23:52
19.02.2018
23:40
19.02.2018
23:14
19.02.2018
23:06
19.02.2018
23:05
19.02.2018
22:50
19.02.2018
21:48
19.02.2018
21:38
19.02.2018
21:32
19.02.2018
20:45
19.02.2018
20:27
19.02.2018
19:21
19.02.2018
19:01
19.02.2018
18:57
19.02.2018
18:02
19.02.2018
17:36
19.02.2018
17:31
19.02.2018
17:07
19.02.2018
17:03
19.02.2018
17:01
19.02.2018
16:41
19.02.2018
16:34
19.02.2018
16:22
19.02.2018
16:17
19.02.2018
16:12
19.02.2018
16:09
19.02.2018

Wall Street banking on $1B NFL concussion settlement.

Wall Street is starting to move to profit from the NFL concussion settlement, The Post has learned. At least three major Wall Street investment banks in the last few months have quietly moved, both directly and indirectly, to buy up a small number of claims filed by former players related to the NFL’s nearly $1...
Time: 23:52     Date: 06.12.2017
Last US Business News: Wall Street banking on $1B NFL concussion settlement. NY Post 24 - US News

The banks, whose involvement hasn’t been previously reported, have both bought up settlement claims for as low as 50 cents on the dollar, as well as explored financing the purchase of claims made by others, two sources briefed on the deals said.

The three investment banks that had waded into the NFL concussion claims business, according to sources, are Cowen & Co., Cantor Fitzgerald, and Jefferies.

Brokers on the banks’ distressed debt desks are said to be the ones interested in investing in the settlements, according to the sources, who have been briefed on or are involved in the deals.

“It’s unregulated; you can make decent returns,” one source said.

Not all three of the banks have put money in play.

The three banks are the highest-profile companies said to be involved in the concussion settlements.

The others — small, lesser-known entities with names like Crunch Cash, Prime Cash Funding, and MultifundingUSA.com — have gotten heat for their actions.

Cowen has bought an unknown number of claims directly from players, but stopped about six months ago, according to one source.

The claims, which can range up to $1 million or more and bought for as little as 50 cents on the dollar, gives the bank the right to receive the full amount of the settlement whenever it comes through.

Jefferies and Cantor Fitzgerald appear to have been exploring lending money to companies looking to buy claims, a source said. Interest rates for the funding could range from 10 to 22 percent, the source said.

“They want to make an investment, and part of the investment is timing. You want to know when the f— you get your money back.” a source said.

Lynda Caravello, a spokeswoman for Cowen, didn’t return multiple e-mails and a phone call seeking comment. Richard Khaleel, a spokesman for Jefferies, said it was “categorically false” that the bank had explored the financing. He later asked that his statement not get printed — adding that The Post was “screwing” him.

A Cantor spokeswoman said “there’s absolutely nobody committing any kind of capital” to profit off the settlements — but didn’t deny that brokers had reached out to facilitate this business.

“If a salesperson’s out there talking or something, you can’t stop somebody from talking, but there has never been anything presented to enable anyone to do this kind of business,” Karen Laureano-Rikardsen, the bank’s spokeswoman, told The Post.

Business

Last US Business News: Wall Street isn’t sold on a CBS-Viacom merger. NY Post 24 - US News
Wall Street isn’t sold on a CBS-Viacom merger.
The media world may be buzzing about a potential CBS-Viacom merger, but Wall Street isn’t sold on the idea. Despite CBS’s...
Last US Business News: Shareholder lawsuit filed against Riot Blockchain. NY Post 24 - US News
Shareholder lawsuit filed against Riot Blockchain.
Riot Blockchain, the biotech company that in October morphed into a cryptocurrency outfit, may soon incur some shareholder...
Last US Business News: Chaos in Washington continues to worry Wall Street. NY Post 24 - US News
Chaos in Washington continues to worry Wall Street.
Stocks were up a bunch on Friday when the news came out that special counsel Robert Mueller had gotten an indictment against...
Last US Business News: Trump’s tax-cut growth gamble could backfire. NY Post 24 - US News
Trump’s tax-cut growth gamble could backfire.
There’s disappointing news coming out for President Trump, and it has nothing to do with the Russians or the revelations...

Opinion

Last US News - Opinion: No, America: Lebanon is not your friend. NY Post 24 - US News
No, America: Lebanon is not your friend.
Is Lebanon America’s friend? The Trump administration, like its predecessors, wrongfully believes it can be. Even before...
Last US News - Opinion: When gentrification winds up meaning confiscation. NY Post 24 - US News
When gentrification winds up meaning confiscation.
Congratulations! The house you bought in Jersey City in the mid-’80s has increased sevenfold in value. Condolences: The...
Last US News - Opinion: Where do the #MeToo accused go from here?. NY Post 24 - US News
Where do the #MeToo accused go from here?.
America is entering the next phase in #MeToo: Where do the accused go from here? Last week Shaun White won a historic third...
Last US News - Opinion: How will Democrats handle their blue-collar blues?. NY Post 24 - US News
How will Democrats handle their blue-collar blues?.
Politico reports that Democrats aren’t keen on having Bill Clinton help out in this year’s campaigns, what with #MeToo...
Last US News - Opinion: Cuomo’s congestion-pricing baby steps. NY Post 24 - US News
Cuomo’s congestion-pricing baby steps.
Gov. Cuomo isn’t so much going ahead with a congestion-pricing plan for the city as he is laying the groundwork, which...

Living

US Living News: Court names wealthy man sole guardian of 13 surrogate children. NY Post 24 - US News
Court names wealthy man sole guardian of 13 surrogate children.
BANGKOK – A Thai court on Tuesday said it ruled in favor of a wealthy Japanese man who had fathered 13 surrogate children...
US Living News: Serious knee injuries increasing in kids and teens. NY Post 24 - US News
Serious knee injuries increasing in kids and teens.
Injuries to a critical ligament in the knee are becoming more common in children and teens, researchers warn. Injuries to...
US Living News: New York Times slammed for ‘sexy’ yoga pants article. NY Post 24 - US News
New York Times slammed for ‘sexy’ yoga pants article.
A New York Times opinion piece is getting ridiculed online for calling yoga pants “bad for women,” and championing for...
US Living News: Harlem Pizza Co. is opening new location. NY Post 24 - US News
Harlem Pizza Co. is opening new location.
Harlem is hot. The owners of Harlem Pizza Co. and Harlem Burger Co. are launching a third new location — Sliced by Harlem...
US Living News: The trendy herbal remedies to cure what ails you. NY Post 24 - US News
The trendy herbal remedies to cure what ails you.
Forget chalky powders and hard-to-swallow vitamins. The hottest way to get a dose of herbal medicine is in tincture form....
US Living News: These exercises will give you a bangin’ butt. NY Post 24 - US News
These exercises will give you a bangin’ butt.
When New York’s girl bosses want better butts, they go to Bec Donlan. The trainer has built a name for herself as a designer...
US Living News: This sleek-looking vape pen is hard to quit. NY Post 24 - US News
This sleek-looking vape pen is hard to quit.
In 2017, Thomas Wyatt, a film editor based in Bed Stuy, was smoking up to a pack of cigarettes daily. But when his girlfriend...
US Living News: Two-year-old boy’s leg crushed by airport escalator. NY Post 24 - US News
Two-year-old boy’s leg crushed by airport escalator.
A Canadian mother is warning others about the dangers of escalators after her 2-year-old son’s foot got caught in one at...

Business

Last US Business News: Wall Street isn’t sold on a CBS-Viacom merger. NY Post 24 - US News
Wall Street isn’t sold on a CBS-Viacom merger.
The media world may be buzzing about a potential CBS-Viacom merger, but Wall Street isn’t sold on the idea. Despite CBS’s...
Last US Business News: Shareholder lawsuit filed against Riot Blockchain. NY Post 24 - US News
Shareholder lawsuit filed against Riot Blockchain.
Riot Blockchain, the biotech company that in October morphed into a cryptocurrency outfit, may soon incur some shareholder...
Last US Business News: Chaos in Washington continues to worry Wall Street. NY Post 24 - US News
Chaos in Washington continues to worry Wall Street.
Stocks were up a bunch on Friday when the news came out that special counsel Robert Mueller had gotten an indictment against...
Last US Business News: Trump’s tax-cut growth gamble could backfire. NY Post 24 - US News
Trump’s tax-cut growth gamble could backfire.
There’s disappointing news coming out for President Trump, and it has nothing to do with the Russians or the revelations...
Last US Business News: Toy makers focus on grown-ups to boost sales. NY Post 24 - US News
Toy makers focus on grown-ups to boost sales.
The toy aisle is not just for kids anymore. Raunchy card games for adults and games aimed at teens and adults are among the...
Last US Business News: Anonymous bitcoin trader makes $400 million bet. NY Post 24 - US News
Anonymous bitcoin trader makes $400 million bet.
Go big or go home. That’s the motto of one mysterious investor who put his chips on the table, buying close to $400 million...
Last US Business News: What the cluck? KFC runs out of chicken. NY Post 24 - US News
What the cluck? KFC runs out of chicken.
What a fowl up! KFC has been forced to close most of its 900 outlets across the UK and Ireland — because it has run...
Last US Business News: Mercedes maker seen as using VW-like emissions tests. NY Post 24 - US News
Mercedes maker seen as using VW-like emissions tests.
US investigators probing Mercedes maker Daimler have found that its cars were equipped with software which may have helped...

Metro

Metro News: Cyclist fatally struck by hit-and-run driver at La Guardia. NY Post 24 - US News
Cyclist fatally struck by hit-and-run driver at La Guardia.
A man riding a bicycle was fatally struck by a hit-and-run driver at La Guardia Airport on Monday night, law enforcement...
Metro News: NY Dems were pushing stricter gun laws even before Florida massacre. NY Post 24 - US News
NY Dems were pushing stricter gun laws even before Florida massacre.
Even before the massacre in Florida, Democratic lawmakers in New York were pushing legislation that would allow judges to...
Metro News: Uber Eats driver punched, robbed in The Bronx. NY Post 24 - US News
Uber Eats driver punched, robbed in The Bronx.
A NYPD-officer wannabe working in The Bronx as an Uber Eats driver got a firsthand look at what it’s like to be a crime...
Metro News: The city still hasn’t selected a ‘nightlife mayor’. NY Post 24 - US News
The city still hasn’t selected a ‘nightlife mayor’.
New Yorkers are still in the dark over who will become the city’s first “nightlife mayor.” Mayor de Blasio announced...
Metro News: Unseasonably warm weather in NYC could be historic. NY Post 24 - US News
Unseasonably warm weather in NYC could be historic.
Put away the parka — and slip on some shorts and flip-flops! New York City will feel more like LA, at least for two days...
Metro News: This odd solution could make the L train shutdown less awful. NY Post 24 - US News
This odd solution could make the L train shutdown less awful.
A crew of engineers and real estate agents is hoping to convince the city of another option to mitigate the pending L-pocalypse...
Metro News: NYC giving away Dunkin’ coffee to get homeless into shelters. NY Post 24 - US News
NYC giving away Dunkin’ coffee to get homeless into shelters.
The Big Apple’s homeless now run on Dunkin’. The NYPD recently launched a program that uses hot cups of Dunkin’ Donuts...
Metro News: Cuomo challenger says tax plan is out of touch with reality. NY Post 24 - US News
Cuomo challenger says tax plan is out of touch with reality.
Gov. Cuomo’s proposal to change the state tax code to get around the loss of deductions under the new federal law is “the...

Sport

Last US Sport News: Slovenian hockey player tests positive for doping. NY Post 24 - US News
Slovenian hockey player tests positive for doping.
PYEONGCHANG, South Korea — A Slovenian hockey player has become the third athlete to test positive for doping at the Pyeongchang...
Last US Sport News: US men’s hockey team staves off elimination with huge win. NY Post 24 - US News
US men’s hockey team staves off elimination with huge win.
The United States’ men’s hockey team beat Slovakia 5-1 in the qualification round at the Pyeongchang Olympics...
Last US Sport News: Knicks should drop Jarrett Jack — and that’s just the start. NY Post 24 - US News
Knicks should drop Jarrett Jack — and that’s just the start.
The Knicks return from the All-Star break to a Tuesday night practice in Tarrytown on familiar turf — playing for next...
Last US Sport News: Mickey Callaway out to prove he’s not just a pitchers’ manager. NY Post 24 - US News
Mickey Callaway out to prove he’s not just a pitchers’ manager.
PORT ST. LUCIE — From field to field Monday at the Mets’ spring-training complex, from station to station, Mickey Callaway...
Last US Sport News: TV mainstays give New York hoops fans reason to listen. NY Post 24 - US News
TV mainstays give New York hoops fans reason to listen.
The harsh truths about professional basketball at this time in this city are stark. Sometimes, it’s hard not to divert...