July, 2017

• 11 July

  IT shares rally lifts India Sensex to record high a second day

  Bloomberg Indian shares advanced a second day, with the key indexes extending record highs, paced by a rally in software exporters. The benchmark S&P BSE Sensex added 0.1 percent to close at 31,747.09 at the 3:30 p.m. close in Mumbai, while the NSE Nifty 50 Index gained 0.2 percent. The Sensex closed at an all-time high level for the third …

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• 11 July

  Electricity overtakes fossil fuels in push for investment

  

  Bloomberg Electricity drew in more investment than fossil fuel supply for the first time last year as the energy industry prepared for electrification of everything from cars to buildings and industrial processes. Power generation and electricity grid expansions took in $718 billion, 42 percent of the $1.7 trillion invested in energy last year, according to a report by the International …

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• 11 July

  Goldman warns of oil below $40 without OPEC ‘shock and awe’

  

  Bloomberg OPEC needs to “shock and awe” the oil market for prices to gain, according to Goldman Sachs Group Inc. The Organization of Petroleum Exporting Countries must increase output cuts aimed at shrinking a global glut with little public announcement in order to jolt investors, the bank said in a July 10 report. Without such action and no evidence of …

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• 11 July

  Oil stocks see influence shrinking everywhere

  

  Bloomberg Everyone knows the rapidly shrinking energy sector has seen its influence on equity indexes wane. But oil-and-gas companies are also losing pull in a corner of the market they once dominated: value stocks. How far have they fallen? As recently as 2012, correlations between the S&P 500 Value Index and the benchmark’s energy companies were often close to 1, …

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• 11 July

  Shell mulls LNG-hub network as use by ships, trucks expands

  

  Bloomberg Royal Dutch Shell Plc, the oil company that spent more than $50bn to buy natural-gas producer BG Group Plc, is looking to expand demand for fuel in transport to ensure its output is consumed. Shell is studying developing a global network of liquefied natural gas supply hubs for vehicles including ships, Steve Hill, executive vice president for gas and …

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• 11 July

  Pemex hires Hogan Lovells to audit contracts

  

  Bloomberg Petroleos Mexicanos has hired the same legal representation used by Brazilian utility Eletrobras to audit its contracts with Odebrecht SA and affiliate Braskem SA amid an ongoing investigation into those two companies by the US Department of Justice. Hogan Lovells US LLP, which for the past two years has been leading an internal audit of state-owned Eletrobras related to …

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• 11 July

  OPEC caps for Libya, Nigeria wouldn’t fix global glut

  

  Bloomberg A proposal that Libya and Nigeria could have to accept limits on their crude production probably wouldn’t be enough to put OPEC’s faltering efforts to eliminate a global supply glut back on track. The two African nations — exempt from the supply curbs agreed last year due to internal strife — have added enough production in the last two …

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• 11 July

  Businesses cast doubt on UK-US post-Brexit trade deal

  

  Bloomberg The transatlantic trade deal US President Donald Trump is offering UK Prime Minister Theresa May will ultimately prove easy to promise and hard to deliver. That’s the warning of business leaders and trade analysts after Trump told May last week that the post-Brexit accord she hankers after can be lined up “very, very quickly.” The challenge for the UK …

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• 11 July

  Google faces $1.3bn French ruling amid rising tax populism

  

  Bloomberg Google will find out this week if it owes 1.12 billion euros ($1.3 billion) in back taxes to France, just days after it was slapped with a record antitrust fine by the European Union. Paris judges are set to rule as soon as Wednesday whether Alphabet Inc.’s Google illegally dodged French taxes by routing sales in the country out …

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• 11 July

  Syngenta CEO sees dual listing in Europe, US

  

  Bloomberg Syngenta AG, the Swiss pesticide maker acquired by China National Chemical Corp. for $43 billion, is considering bourses in Europe and the US as possible locations for a re-listing of shares in about five years. “I would not be surprised if it was a combination of Europe and the US, as we were before,” Syngenta Chief Executive Officer Erik …

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