October, 2018

• 21 October

  Warburg considering $3 billion Navitas sale

  

  Bloomberg Buyout firm Warburg Pincus is considering a $3 billion sale of natural gas producer Navitas Midstream Partners LLC, people with knowledge of the matter said. Navitas has hired investment bank Jefferies Financial Group Inc. to run an auction process, said the people, who asked not to be identified because they weren’t authorized to speak publicly. The company, which is …

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• 21 October

  Russia to offer Exxon new oil, gas projects

  Bloomberg Russia has started discussions with Exxon Mobil Corp. over possible new oil and gas projects, potentially creating a dilemma as the US government mulls more sanctions against the country. The consultations could expand existing cooperation between the US giant and state-run Rosneft PJSC, Russian government officials said, asking not to be named as the information isn’t public yet. The …

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• 21 October

  Behind stock market’s ordeal are cracks in profit foundation

  

  Bloomberg Package maker Sealed Air Corp fell the most in six months after saying higher raw material costs would crimp the bottom line. A few days earlier it was rising freight outlays at Fastenal Co., where $1.1 billion of market value was erased. On October 9, paint maker PPG Industries Inc. mentioned rising expenses. The shares cratered. From railroads to …

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• 21 October

  Riksbank zeroing in on first rate increase in seven years

  Bloomberg Sweden’s central bank could next week give a clearer signal that it’s ready to tighten already in December as policy maker are growing eager to end almost four years of negative interest rates. Governor Stefan Ingves and his colleagues are on Wed-nesday expected to keep their benchmark unchanged at minus 0.5 percent, but could signal a greater probability that …

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• 21 October

  Investors hunt for biotech winners as wider stocks churn

  

  Bloomberg Biotechnology stocks have helped lead the market lower recently, but investors still appear eager to dabble in some of the industry’s riskiest prospects. Since hitting a 52-week high on October 1, the Nasdaq Biotechnology Index, the broadest gauge of the industry’s performance, has fallen more than 6.5 percent. Fears that higher interest rates and heightened global trade tensions could …

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• 21 October

  ‘Italy’s banks at risk from widening bond yield spread’

  

  Bloomberg An increase in Italy’s bond yield spread is a risk for domestic banks and is adding to tensions in the financial system, according to Cabinet Undersecretary Giancarlo Giorgetti. “The spread is a risk for banks, which we can’t ignore,” the top official of coalition partner the League said in an interview with daily Il Messaggero published on Sunday. The …

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• 21 October

  Euro may take lower path into ECB as Draghi set to maintain rhetoric

  

  Bloomberg The euro could revisit its year-to-date low as persistent political risks may lead Mario Draghi to refrain this week from painting a rosier picture for the bloc’s economy. Market dynamics have shifted only slightly since the European Central Bank’s last meeting, yet not in a supportive way for the common currency. Data may be suggesting the forecasts for growth …

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• 21 October

  Goldman says time to buy the dip in emerging markets

  Bloomberg This year’s selloff in emerging-market assets has created a whole lot of value, according to Goldman Sachs Group Inc. The firm’s asset-management arm says it’s time to buy as months of underperformance for developing-nation securities relative to their US peers won’t last much longer. The divergence was an anomaly, spurred in part by sanctions on Turkey and Russia as …

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• 21 October

  Swiss banking secrecy rule dealt setback in October

  

  Bloomberg Two events this month may have finally brought the curtain down on secrecy rules that were the key to Geneva and Zurich’s private banking heyday, when foreign clients could come armed with suitcases of cash and their bankers would look other way. Swiss tax authorities announced they’d shared details on 2 million accounts with other countries for first time …

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• 21 October

  Boeing’s tanker to miss delivery date, says US Air Force chief

  

  Bloomberg Boeing Co. won’t deliver its first KC-46 aerial refueling tanker by month’s end as it had agreed, according to US Air Force Secretary Heather Wilson, the latest in a procession of missed deadlines since the company won the contract in 2011. Air Force officials are meeting with planemaker “to try to lay down path forward for delivery and to …

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