August, 2018

• 27 August

  Canada, UK have this gauge to fear amid turmoil: Goldman

  

  Bloomberg One under-appreciated indicator is flashing red for some developed markets, Goldman Sachs analysts say. The private-sector financial balance — an economy’s total income minus the spending of all households and businesses — has proven more powerful in predicting crises than the current-account balance, Goldman analysts led by Jan Hatzius, the bank’s global head of economics, wrote in an August …

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• 27 August

  Pound traders brace for increased turbulence as summer lull ends

  

  Bloomberg Pound investors hoping for a turnaround anytime soon could instead face more turbulence. The UK’s and the European Union’s plan to negotiate Brexit continuously from now on suggests there will be more political headlines, potentially fueling volatility, according to strategists at Royal Bank of Canada and Australia & New Zealand Banking Group Ltd. With UK markets shut for a …

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• 27 August

  Sinopec raises dividend as oil rally boosts profit to record

  

  Bloomberg China Petroleum & Chemical Corp. raised its dividend payout after half-year earnings jumped to a record, fuelled by improving refining profits and a rebound in crude prices that brought its oil and gas exploration unit closer to breaking even. The world’s biggest refiner by capacity, known as Sinopec, proposed an interim dividend of 0.16 yuan a share, a 60 …

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• 27 August

  ‘$10bn of India power debt near resolution’

  

  Bloomberg Delinquent loans worth as much as 700 billion rupees ($10 billion) in India’s power sector are in the process of being resolved, according to the nation’s largest bank, helping lenders avoid dragging seven accounts to bankruptcy court under new norms laid out by the regulator. State Bank of India identified 34 stressed accounts in the power sector, with dues …

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• 27 August

  Cornerstone Macro head says to sell energy stocks

  Bloomberg The charts are saying to sell energy shares. Cornerstone Macro Head of Technical Analysis Carter Worth is recommending an underweight on the best-performing sector in the S&P 500 over the past week and a half. Worth said his call comes from analyzing the chart patterns of each of the stocks that compose the Russell 3000 Energy sector. “What we …

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• 27 August

  Oando of Nigeria eyes growth after curbing $2.5bn debt

  

  Bloomberg Oando Plc is looking to boost crude output from next year as the Nigerian producer breaks the back of a $2.5 billion debt burden built up through the 2014 acquisition of oil and gas assets from US giant ConocoPhillips. The borrowings will be almost 90 percent lower by the third quarter of 2019 and the company is now preparing …

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• 27 August

  Ecopetrol aims at acquisitions

  Bloomberg Colombia’s Ecopetrol SA plans to expand its oil and gas reserves through acquisitions, while also increasing its presence in the US. The state-owned oil company has identified assets that it may consider buying, Chief Executive Officer Felipe Bayon said at the New York Stock Exchange. “We’re trying to make it happen this year.” “It needs to be the right …

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• 27 August

  Londoners buy homes outside capital as prices remain high

  

  Bloomberg Londoners are buying more homes outside the capital as prices remain too high, even after the end of a decade-long housing boom. In the first half, Londoners bought more than 30,000 homes outside the city, a 16 percent rise from a year ago and 61 percent more than in the same period a decade earlier, according to research by …

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• 27 August

  Two-cent fares killing airlines in India market

  

  Bloomberg Global carriers have flocked to India, lured by a domestic travel boom and what’s expected to be the world’s third-biggest aviation market by 2025. Yet India has proven an intensely competitive market, where profits are scarce and the life expectancy of weaker airlines is anything but certain. Jet Airways India Ltd., one of the first carriers to launch after …

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• 27 August

  Toys ‘R’ Us sale of Asia unit caught in ‘feud’

  

  Bloomberg The sale of Toys ‘R’ Us’s last and most valuable remaining asset, its Asia operations, has become caught up in a battle between two groups of hedge funds over the future use of the brand by stores in that region. One group of funds, including Cerberus Capital Management and Cyrus Capital Partners, owns notes issued by the Asian stores …

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