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Australian territory gives major status to solar plan by Singapore’s Sun Cable

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SYDNEY (Reuters) – Australia’s Northern Territory has given major project status to an ambitious plan to transmit 3 gigawatts (GW) of solar power to Singapore by subsea cable, its chief minister said on Saturday. Michael Gunner said Singaporean firm Sun Cable’s proposed A$20 billion ($14 billion) solar farm near Tennant Creek would be the world’s Read More

Judge rules against hedge funds that challenged 2016 Jarden deal

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WILMINGTON, Del. (Reuters) – A Delaware judge ruled against hedge funds on Friday that tried to get more cash out of Newell Brands Inc’s (NWL.O) 2016 acquisition of consumer goods company Jarden Corp, the latest setback for a once-popular investment strategy known as appraisal. Vice Chancellor Joseph Slights of the Court of Chancery found that Read More

Oil climbs as Middle East tensions offset demand worries

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NEW YORK (Reuters) – Oil prices rose about 1 percent on Friday after steep losses a day earlier, supported by rising tensions between the United States and Iran, even as concerns that slowing economic growth could dent global oil demand cast a cloud. FILE PHOTO: An oil pump is seen at sunset outside Vaudoy-en-Brie, near Read More

Analysis: DME Oman benchmark move backfires as open interest stalls

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Highlights Questions about underlying appeal of DME Oman as a benchmark Open interest on DME Oman forward curve has flat-lined Scratch trades underpinning DME Oman volumes, say traders London — Almost a year since Saudi Arabia picked Dubai Mercantile Exchange’s Oman benchmark to help set official selling prices for crude in Asia, open interest in Read More

BlackRock profit misses estimates, hit by lower fees for lending stocks

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NEW YORK (Reuters) – BlackRock Inc (BLK.N), the world’s largest asset manager, took in less cash last quarter as investors moved into lower-cost bond funds, and it made less money lending out stocks. The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai The company, manager of Read More

Making sense of chaos? Algos scour social media for clues to crypto moves

4 days ago DieselGasoil Comments Off on Making sense of chaos? Algos scour social media for clues to crypto moves
LONDON (Reuters) – After months of relative calm in cryptocurrency markets, bitcoin exploded back into life in April with its sharpest price jump in over a year – but few people could convincingly explain why. FILE PHOTO: A copy of bitcoin standing on PC motherboard is seen in this illustration picture, October 26, 2017. REUTERS/Dado Read More

Balyasny gains in first half after losses prompted reorganization in 2018

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BOSTON (Reuters) – Balyasny Asset Management, a Chicago-based hedge fund that shed $4 billion in assets last year and cut 20% of its staff, was back in positive territory for the first half of this year, suggesting its massive overhaul might be paying off, analysts said. FILE PHOTO: Dmitry Balyasny, Managing Partner and Chief Investment Read More

Hurricane Barry halts large portion of GOM oil output

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By Saket Sundria and Alex Longley on 7/15/2019 SINGAPORE and LONDON (Bloomberg) –Oil traded near $60/bbl after a storm shut almost three-quarters of U.S. Gulf of Mexico crude production, even as lingering demand concerns continue to dent the outlook. Futures rose 0.2% in New York. About 73% of crude output in the Gulf of Mexico Read More

AB InBev pulls Budweiser listing, canceling year’s largest IPO

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HONG KONG/NEW YORK/BRUSSELS (Reuters) – Anheuser-Busch InBev (ABI.BR) said on Friday it will not proceed with the planned listing in Hong Kong of its Asia Pacific unit, Budweiser Brewing Company APAC Ltd (1876.HK), in what would have been the world’s biggest initial public offering (IPO) of 2019. AB InBev, the world’s largest brewer, was aiming Read More

AB InBev Asia cancels world’s largest IPO of 2019

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HONG KONG/NEW YORK (Reuters) – Anheuser-Busch InBev (ABI.BR) said on Friday it will not proceed with the initial public offering of its Asia Pacific unit, Budweiser Brewing Company APAC Ltd (1876.HK), on the Hong Kong Stock Exchange. The company said the decision was due to “several factors, including the prevailing market conditions.” It had been Read More