September, 2018

• 2 September

  McCain eulogised by rivals as representing America at its best

  

  Bloomberg Former presidents George W. Bush and Barack Obama led a final, public farewell to John McCain, praising the Arizona senator as the embodiment of America at its best—yet it was powerful comments by McCain’s daughter that may be most remembered. “So much of our politics, our public life, our public discourse, can seem small and mean and petty, trafficking ...

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• 2 September

  As Emmanuel Macron champions Europe, a nationalist school set to open in France

  

  Bloomberg Across the continent, from Finland to Portugal, Emmanuel Macron is leading the charge against Europe’s nationalists. He might want to look closer to home. In western France, Marion Marechal has ambitions to train the next generation of anti-establishment, anti-European French leaders. From September, Marechal is starting her own graduate school, where she’ll seek to shape the politicians of the ...

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• 2 September

  South Korea’s Moon to send security head to Pyongyang

  

  Bloomberg South Korean President Moon Jae-in will send both his national security adviser and top spy as special envoys on a one-day mission to Pyongyang on Wednesday ahead of a possible inter-Korean summit this month. President Moon named a five-member delegation to North Korea on Sunday, led by National Security Office chief Chung Eui-yong, Yonhap News Agency cited Blue House ...

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• 2 September

  Oil trader Mercuria’s ownership structure gets revealed in filing

  

  Bloomberg Mercuria Energy Group Ltd. revealed how much each of its top executives and founders control of its parent company offering a rare glimpse into the ownership structure of one of the world’s largest energy traders. In an application seeking permission for a US subsidiary to export electricity to Mexico, Mercuria included a detailed list of its shareholders. The obscure ...

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• 2 September

  Wren House weighs buying rest 70% of Spanish energy firm

  

  Bloomberg UK investment firm Wren House Infrastructure Management is considering buying the remaining 70 percent of Spain’s Global Power Generation SA that it doesn’t already own, according to people with knowledge of the matter. The potential deal could be valued at more than $1 billion, the people said, declining to be identified as the deliberations are confidential. London-based Wren House ...

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• 2 September

  Ghana delays locking in oil to review cedi impact on prices

  Bloomberg Ghana is postponing plans to protect itself from higher oil prices as the country reviews how its currency is affecting what consumers pay at the pump. Foreign exchange movements are probably having a bigger impact on volatile fuel costs than changes in the international price of crude, Deputy Minister of Finance Charles Adu Boahen said in an interview in ...

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• 2 September

  India economy holds shaky crown as risks factors build

  

  Bloomberg India’s world-beating economic growth is running up against some big risks: high oil prices, emerging market stress as the era of easy money draws to a close, and policy paralysis in the run-up to next year’s federal election. Those factors may push the rupee, Asia’s worst performer this year, even lower, as well as dampen some of the optimism ...

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• 2 September

  Varde, Birla Group create $1bn venture for stressed assets

  

  Bloomberg US-based investment firm Varde Partners Inc. and Indian financial services provider Aditya Birla Capital Ltd. are creating a joint venture to invest in “stressed and distressed” assets in India. Birla Capital’s shares rose. Minneapolis-based Varde will take a 50 percent stake in Birla Capital’s asset reconstruction business for 980 million rupees ($13.9 million), the Indian firm said in a ...

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• 2 September

  Tencent-dip buyers question elusive rally

  

  Bloomberg Tencent Holdings Ltd.’s equity bulls keep facing so many setbacks these days that you wonder when its loyal shareholders will cave. For them, it’s becoming all too familiar: the shares slump on some negative news and analysts rush to say buy, calling it an excellent time to load up on a stock that’s long been among Hong Kong’s most ...

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• 2 September

  Vertex’s medicine to be subsidised in Australia

  Bloomberg Vertex Pharmaceuticals Inc.’s cystic fibrosis medicine Orkambi will be subsidized by the Australian government from next month. The medicine will be available on the Pharmaceutical Benefits Scheme from October 1 for all patients over the age of six who have the most common form of cystic fibrosis, Prime Minister Scott Morrison said in a statement. “This will provide over ...

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