June, 2019

• 26 June

  Walmart re-listing its Japanese chain

  

  Bloomberg Walmart Inc is re-listing its Japanese supermarket chain Seiyu after struggling to find a buyer for the unit, following a decade-long battle to compete with bigger local rivals. The US retailer will keep its majority stake in Seiyu after the listing, Walmart’s international division head Judith McKenna said in a statement. The company also announced a mid-term business plan …

  Read More »
• 26 June

  Faux-meat mania may pose risks for meat producers

  Bloomberg The popularity of Beyond Meat Inc’s plant-based protein offerings isn’t just a threat for meat producers. Such meat-free alternatives and consumer trends shunning animal protein could also hurt demand at agricultural chemical makers and fertiliser companies, according to Alliance Bernstein. Nearly 60 percent of the world’s corn and 90 percent of the soy goes into animal feed, analyst Gunther …

  Read More »
• 26 June

  Alibaba aims to double global brands with new English site

  

  Bloomberg Alibaba Group Holding Ltd has set up a new website to double the number of global brands on its flagship online mall, taking an important step towards fulfilling its global ambitions. The e-commerce giant began offering an English-language portal on Tmall for the first time to entice more merchants from around the world to sell to Chinese consumers. Alibaba …

  Read More »
• 26 June

  Canada’s Shopify tumbles as euphoria put to test

  

  Bloomberg Shopify Inc’s biggest drop of 2019 shows the e-commerce stock is testing the limits of what investors are willing to pay for rapid revenue growth. The shares fell 8.9 percent in New York on Tuesday, their biggest drop since December 14, after more than doubling from the start of the year. That run-up created more than $25 billion in …

  Read More »
• 25 June

  Aramco says it can keep oil flowing if Hormuz hit

  

  Bloomberg Saudi Arabian Oil Co. has the experience and infrastructure it needs to keep crude flowing should supply through the Strait of Hormuz be disrupted, according to the chief executive officer of the state-run producer. “We are increasing our readiness,” Amin Nasser said in an interview in Seoul on Tuesday. “We can supply through the Red Sea and we have …

  Read More »
• 25 June

  Blue Racer weighs $2.5 billion IPO

  

  Bloomberg Blue Racer Midstream, a private equity-backed natural gas pipeline owner, is considering an initial public offering that could be valued at $2.5 billion, according to people familiar with the matter. The Dallas-based company, which is a 50/50 joint venture between private equity firm First Reserve and Caiman Energy II, is working with advisers to evaluate an IPO, said the …

  Read More »
• 25 June

  Mozambique gas riches near as $25b LNG plant okayed

  

  Bloomberg Anadarko Petroleum Corp. approved a $25 billion liquefied natural gas project in Mozambique that could help transform the economy of one of the world’s poorest countries. Chief Executive Officer Al Walker signed off on what he called the biggest ever foreign investment in Africa. Anadarko sees potential for Mozambique to become one of the largest LNG suppliers in the …

  Read More »
• 25 June

  Stocks slide as 10-year yield drops back below 2 percent

  

  Bloomberg US stocks fell while gains in Treasuries pushed the 10-year yield below 2 percent as simmering geopolitical tensions damped investor appetite for risk. Gold jumped. The S&P 500 dropped for a third-straight session, the longest since May 9, as US officials downplayed expectations of a resolution to the trade war ahead of highly-anticipated meeting between President Donald Trump and …

  Read More »
• 25 June

  Pound looks even worse than euro

  

  Bloomberg The pound will tumble to levels not seen since 2017 against the euro as Brexit turmoil outweighs a dovish European Central Bank, according to analysts. Sterling is likely to slide towards 92 pence per euro by year-end, about 3 percent below current levels and a rate not seen in 21 months, according to JPMorgan Chase & Co. That pessimism …

  Read More »
• 25 June

  Fed sees lower long-run interest rate outlook as growth dims

  

  Bloomberg Federal Reserve policy makers are discovering they likely need to shift into an even lower gear if they are to speed up the US economy. Chairman Jerome Powell and colleagues last week estimated that the so-called neutral interest rate — the level which neither stimulates nor restricts growth — now sits around 2.5 percent, down from 2.75 percent in …

  Read More »