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Exclusive: Italy’s UniCredit puts possible Commerzbank bid on ice for now – sources

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LONDON/MILAN (Reuters) – Italy’s UniCredit has put a possible bid for Commerzbank on ice as the German rival does not want to engage in negotiations so soon after the collapse of merger talks with Deutsche Bank, four sources said. FILE PHOTO: A Commerzbank logo is pictured before the bank’s annual news conference in Frankfurt, Germany, Read More

GasLog Ltd. and GasLog Partners LP Announce Agreement to Eliminate Incentive Distribution Rights

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Monaco, June 24, 2019 (GLOBE NEWSWIRE) — GasLog Ltd. (“GasLog”, the “General Partner”, or the “GP”) (NYSE: GLOG) and GasLog Partners LP (“GasLog Partners” or the “Partnership”) (NYSE: GLOP) announced today an agreement to eliminate the GP’s incentive distribution rights (“IDRs”) in exchange for newly issued limited partner (“LP”) units. In exchange for the IDRs, Read More

Lufthansa announces overhaul of budget carrier Eurowings

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BERLIN (Reuters) – Lufthansa on Monday announced a turnaround plan for Eurowings in which the budget carrier will focus on short-haul flights and seek a 15% cut in costs by 2022 in the hope of returning to profit. FILE PHOTO: The economy class section of an Airbus A340-300 of Eurowings, a low-cost airline and fully Read More

Natixis’ H2O sells some illiquid debt to try to staunch outflows

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PARIS/LONDON (Reuters) – H2O, one of French bank Natixis’ asset management businesses, has sold off some illiquid assets and removed entry fees across its funds as it tries to stem outflows of customer money. The business, which contributed about 11% of Natixis’ net income last year, said on Monday the move had led it to Read More

Thailand’s IRPC to start selling 0.5% sulfur fuel oil cargo from July

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Singapore — Thailand’s oil and petrochemical company IRPC Public Co. Ltd. plans to start selling low sulfur fuel oil cargo with maximum sulfur of 0.5% from its Rayong refinery from next month, company sources said Monday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now This move is in line Read More

Donald Trump: I’m not looking for war with Iran

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By Lucia Binding, news reporter Donald Trump has said he is not seeking war with Tehran and indicated he was ready to defuse tensions by reaching a deal to bolster Iran’s flagging economy. While the US president said he will impose further sanctions on Monday aimed at stopping the country from obtaining nuclear weapons, he Read More

India asks scooter, bike makers to draw up plan for EVs: sources

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NEW DELHI (Reuters) – India’s federal think-tank has asked scooter and motorbike manufacturers to draw up a plan to switch to electric vehicles, days after they publicly opposed the government’s proposals saying they would disrupt the sector, two sources told Reuters. FILE PHOTO: A boy prepares to recharge his electric scooter outside his home in Read More

Citi sees case for Fed to lower rates by 50 bps in July

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FILE PHOTO: A woman walks past a Citibank logo displayed outside the Citibank Plaza in Hong Kong July 28, 2014. REUTERS/Bobby Yip NEW YORK (Reuters) – Citi economists said on Friday if the Federal Reserve decides to lower U.S. interest rates next month, it would do so with a bold 50 basis-points cut, together with Read More

Mexico to cut Pemex’s profit-sharing duty cut to 54%, increasing resources by $4.8 billion by 2021

3 days ago DieselGasoil Comments Off on Mexico to cut Pemex’s profit-sharing duty cut to 54%, increasing resources by $4.8 billion by 2021
Mexico City — The Mexican government will cut Pemex’s profit-sharing duty, known as DUC, to 54% by 2021 from the current 65%, the company’s financial director, Alberto Velazquez, said Thursday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “Results from this plan might be huge, spectacular,” Velazquez said at Read More

BHGE opens subsea Centre of Excellence in Montrose, Scotland

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6/21/2019 MONTROSE, Scotland — Baker Hughes, a GE company (BHGE) opened its transformed Centre of Excellence (CoE) facility at an inauguration ceremony with Minister for Energy, Paul Wheelhouse, customers and employees. The world-class CoE will deliver engineering, manufacturing, test and assembly and services to advance deepwater technology for customers. The campus, which sits on more Read More