July, 2018

• 11 July

  Billionaire Adani, GAIL among 400 bidders for India city-gas licenses

  

  Bloomberg Billionaire Gautam Adani’s gas retailing unit is among firms that submitted 400 bids for the 86 areas the Indian government offered in its latest auction for city-gas licenses. Adani Gas Ltd bid for 32 licenses, Chief Executive Officer Rajeev Sharma said on Wednesday, while its joint venture with Indian Oil Corp bid for 20. A unit of state gas …

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• 11 July

  Oil strike in Norway shuts Shell field in Knarr as escalation looms

  

  Bloomberg A strike curtailed oil production off Norway for the first time in six years as Royal Dutch Shell Plc shut a North Sea field and workers threatened to escalate labor action at the weekend. Shell was forced to shut down its Knarr field, which produced about 23,000 barrels a day of oil and 3,500 barrels of natural-gas liquids a …

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• 11 July

  ‘Trade war could leave energy unscathed’

  Bloomberg The energy industry is one of the safest sectors to be in as US President Donald Trump instigates a global trade war, Husky Energy Inc. Chief Executive Officer Rob Peabody said. Husky has ties to many of the major players in the emerging trade battles. The Calgary-based company controlled by Hong Kong billionaire Li Ka-Shing has a major production …

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• 11 July

  US drivers to cut gasoline use for first time since ’12

  Bloomberg American drivers are poised to pump less for the first time in six years. US gasoline demand is expected to fall by 10,000 barrels a day in 2018 compared to last year, according to the Energy Information Administration. Overall consumption is forecast at 9.31 million barrels a day, the agency said in its monthly Short-Term Energy Outlook. The last …

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• 11 July

  Stocks, commodities fall amid trade war escalation

  

  Bloomberg Stocks fell, the dollar gained and commodities slid as markets reeled from fresh salvos in the escalating trade war between the US and China. The S&P 500 Index ended the longest rally in a month after the Trump administration said it will slap tariffs on an additional $200 billion of Chinese products. The Asian nation vowed to retaliate, helping …

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• 11 July

  Stocks quants reel from worst run in eight years

  

  Bloomberg The dog days of summer have arrived for quants. Systematic traders who tie their fortunes to the ebbs and flows of stock markets are experiencing some of their worst returns in eight years relative to a key benchmark, according to one Wall Street estimate. Factor investing — which slices and dices equities based on traits like profitability and price …

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• 11 July

  Deutsche bank woos buyout giants to finance more deals

  

  Bloomberg Deutsche Bank AG is deploying top executives, as well as billions of dollars, as it seeks to win more business with Wall Street’s most active dealmakers. Chief Executive Officer Christian Sewing and other senior managers at the bank have fanned out in recent weeks to meet leaders of big US private equity firms, looking to strengthen relationships and drum …

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• 11 July

  Goldman conjures $20bn bond trade from ETF boom

  

  Bloomberg Goldman Sachs Group Inc. is using its position in the $800 billion market for exchange-traded bond funds (ETF) to build a business that its Wall Street rivals now want to emulate. The bank has this year almost tripled the volume of ‘‘credit portfolio trades,’’ whereby it buys or sells large scale blocks of securities through ETFs, to around $20 …

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• 11 July

  Barclays ends 100-year-old Africa presence

  

  Bloomberg Barclays Africa Group Ltd. is no more. And with that a chapter closes on its former British parent’s 100-year history on the continent. The lender on Wednesday ditched the name to revert to Absa Group Ltd. as it severs ties with Barclays Plc after the London-based company sold down the controlling stake it bought in 2005. The Johannesburg-based company …

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• 11 July

  New Malaysia central bank chief strikes neutral tone on rate

  

  Bloomberg Malaysia’s central bank kept its benchmark interest rate steady in the first policy meeting under a new governor, providing support to an economy that Prime Minister Mahathir Mohamad is trying to revamp. Bank Negara Malaysia held the overnight policy rate at 3.25 percent, it said in a statement in Kuala Lumpur on Wednesday, as predicted by all 19 economists …

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