June, 2018

• 6 June

  BHP receives bids valuing shale unit up to $9 billion

  

  Bloomberg BHP Billiton Ltd. has received first-round bids for its US shale portfolio from oil majors including BP Plc and Chevron Corp., valuing the unit at $7 billion to $9 billion, people familiar with the matter said. Royal Dutch Shell Plc, partnering with private equity firm Blackstone Group LP, also submitted a bid for the entire unit late in May, …

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• 6 June

  US biofuel policy revamp on the verge of collapse

  

  Bloomberg A tentative deal to revamp US biofuel policy appeared to collapse when the White House indefinitely delayed an expected announcement of the planned changes, according to three people familiar with the move. The postponement of a directive outlining the deal may mark the end of the latest effort to overhaul the American renewable fuel mandate with an eye on …

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• 6 June

  India sees record low solar prices returning

  Bloomberg India may be the biggest beneficiary of solar industry reforms in China that are poised to reduce prices for photovoltaic panels. China announced last week it was halting approvals of some new solar projects this year and cutting subsidies to developers to ease its pace of expansion. That’s expected to slow demand in the world’s biggest market, weakening prices, …

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• 6 June

  Repsol shows faith in oil’s rally with dividend, spending boost

  

  Bloomberg Repsol SA, Spain’s largest oil producer, plans to raise dividends and investments over the next two years on a bet that crude will remain above $50 a barrel. The scrip dividend — a payout to shareholders in stock — will climb to 1 euro in 2020 from a planned 90 euro cents this year, according to a strategy update …

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• 6 June

  Trade hopes sustain risk-on mood; ECB sinks bonds

  

  Bloomberg Trade hopes and the end of easy money were the twin themes in trading on Wednesday, with stocks extending gains and bonds falling as this week’s risk-on mood endured. US equity futures climbed following advances across Asia on signs that major economies will step back from the brink of a trade war. More than half of companies in the …

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• 6 June

  Oil near $65 as OPEC fears weigh against US stockpile drop

  

  Bloomberg Oil traded near $65 a barrel as an industry report showing a drop in American crude stockpiles countered fears about a potential OPEC supply boost. Futures in New York fell 0.7 percent, following a 1.2 percent advance on Tuesday. The American Petroleum Institute was said to report nationwide crude inventories declined by over 2 million barrels last week. Meanwhile, …

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• 6 June

  India joins emerging markets in pulling interest rate trigger

  

  Bloomberg India’s central bank raised its benchmark interest rate for the first time since 2014 to curb rising price pressures and calm financial markets as policy tightening in the US rattles emerging markets. All six members of the Monetary Policy Committee voted to increase the repurchase rate to 6.25 percent from 6 percent, the Reserve Bank of India said in …

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• 6 June

  Credit Suisse to pay $47mn to resolve US probe on Asia hiring

  

  Bloomberg Credit Suisse Group AG agreed to pay a $47 million penalty to the US Department of Justice to end a probe into whether it hired employees in Asia in exchange for government contracts and other favors. Credit Suisse’s Hong Kong unit reached a non-prosecution agreement with the DOJ regarding its recruitment practices in Asia between 2007 and 2013, according …

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• 6 June

  Circle seeks to become licensed bank, trading venue

  

  Bloomberg Circle Internet Financial Ltd., one of the world’s most valuable cryptocurrency platforms, is looking to make a big leap into the highly regulated realm of US banks and brokerages. The venture, partly backed by Goldman Sachs Group Inc., plans to seek a federal banking license to provide more services to customers. It also intends to pursue registration as a …

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• 6 June

  ECB’s Praet confirms June meeting pivotal for bond-buying program

  

  Bloomberg European Central Bank Chief Economist Peter Praet confirmed that next week’s policy meeting will be pivotal for reaching a decision on when to end the institution’s bond-buying program. His comments reinforce the view that the ECB is close to settling the question of how long it will keep buying debt to support the euro-area economy. Bloomberg reported that policy …

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