KKR to target record $15bn in Asia-focused buyout fund November 7, 2019 Private equity giant KKR is said to be targeting a record $15bn (£11.7bn) raise for its planned Asia-focused buyout fund. The fundraising is set to begin early next year, with the aim of reaching its first close — the minimum threshold to make investments — by June, people familiar with the matter told Reuters. The [...]
European markets rise as US and China agree to phase out tariffs November 7, 2019 European markets have risen this morning after the US and China announced plans to gradually lift tariffs as the two countries work towards securing a trade deal. News of the trade-war de-escalation buoyed Britain’s FTSE 100 index, sending it up as much as 0.44 per cent in morning trading. The blue chip index was sitting [...]
BHP shareholders vote against leaving industry groups November 7, 2019 Shareholders at Anglo-Australian mining giant BHP have voted against a motion calling for the company to give up its membership in industry bodies which support policies which run counter to the Paris climate change treaty. A tally of the votes taken at the group’s annual general meeting (AGM) in Sydney showed that 72.9 per cent [...]
CNG Fuels to offer first carbon neutral fuels for HGVs November 7, 2019 This morning CNG Fuels, the UK’s leading supplier of renewable biomethane, announced plans to become the first supplier of carbon neutral fuels for heavy goods vehicles (HGVs). The supplier plans to use manure to produce carbon neutral biomethane which will undercut diesel prices up to 45 per cent by 2021. Read more: MPs demand parliament’s [...]
Founder Masayoshi Son calls Softbank’s staggering loss ‘a mess’ November 6, 2019 Softbank founder Masayoshi Son has called the Japanese company’s disappointing results “a mess” and admitted a “problem” with his judgement, after the tech investment giant swung to an operating loss for the first time in 14 years. The group reported a $6.4bn quarterly loss this morning, driven by soured bets on tech prospects including Wework [...]
Oil prices drop back after three day surge November 6, 2019 After three days of growth oil prices dropped this morning, as US crude stocks nearly tripled against analyst expectations. Inventories rose by 4.3m barrels last week to 440.5m barrels, far higher than forecasts of a 1.5m barrel increase. Read more: OPEC chief optimistic for 2020 as oil price rises one per cent An easing in [...]
What happens to high yield bonds in times of market stress? November 6, 2019 | City Talk The current macroeconomic backdrop is creating challenges for investors. Global growth is slower and inflation is benign. Meanwhile, central banks appear to be returning to more accommodative policies and geopolitical tensions have increased. Downturns in the business cycle, often caused by adverse economic conditions, can lead to a number of trends that are negative for [...]
Petrol price falls for third consecutive month in October November 6, 2019 The price of petrol fell for the third month in a row in October, according to data from RAC fuel watch, with a litre of unleaded nearly 3p cheaper than it was at the beginning of August. The average price of a litre of unleaded dropped 1.57p to 126.42p at the end of the month, [...]
OPEC chief optimistic for 2020 as oil price rises one per cent November 5, 2019 The oil market outlook for 2020 may have upside potential, the secretary-general of producer group OPEC said today, appearing to underplay any need to cut output more deeply. Mohammad Barkindo said he was more optimistic about next year’s outlook than he had been last month, when he said all options, including a deeper cut to [...]
Gold hits highest values since 2013 amid geopolitical tensions November 5, 2019 Renewed economic concerns and rising geopolitical tensions has driven the value of gold to a six and a half year high, according to the Refinitiv GFMS gold survey. In the third quarter gold’s dollar value rose to an average of $1,472 (£1,144.5) per ounce, a 12 per cent increase on the previous quarter and 22 [...]
