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Troubled European companies, facing tougher banks, have had to increasingly borrow from other sources, such as KKR (NYSE:KKR), whose direct lending has doubled over the first six months of the year. Says KKR’s Nat Zikha: “There’s a massive change in the behavior of banks in the last 6 months as they are really taking a hard line with borrowers.”
Goldman (NYSE:GS) continues to scale down its Japanese investments, and has sold contractor Fujita Corp to Daiwa House Industry for $636 million; Goldman is now left with two major investments: USJ Co, which operates Universal Studios Japan in Osaka, and a stake in eAccess, a mobile phone operator.
Gambling machine manufacturer Bally Technologies (NYSE:BYI) reports strong sales of gaming equipment, up 33 percent y-on-y to $97 million; guides 2013 EPS in the range $2.95 – $3.30 based on strength in gaming operations and game sales.
Bank of Ireland’s (NYSE:IRE) operating loss in H1 was 907 million euros compared to a loss of 722 million euros a year ago; including losses on assets disposed, the loss becomes 1.09 billion euros. Net interest margin has fallen 13 bps to 1.2 percent, but may have bottomed out according to the CEO.
Energy drink producer Monster Beverage’s (NASDAQ:MNST) shares fall as it admits to its marketing practices being probed by a state AG; according to UBS, other energy drink producers were also served a subpoena in a related matter.
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