September, 2018

• 22 September

  Offshore driller Fieldwood Energy weighs IPO in 2019

  Bloomberg Fieldwood Energy, an offshore oil and gas explorer that emerged from bankruptcy in April, is weighing an initial public offering, according to people familiar with the matter. The Houston, Texas-based company is exploring filing a public offering in early 2019 that could value the company at more than $5 billion, said one the people, who asked to not be ...

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• 22 September

  North Carolina solar farms recovering from Florence

  

  Bloomberg North Carolina’s solar farms took a beating from Hurricane Florence and many of the power plants remain out of service, a week after the storm slammed into the second-biggest US market. About one-third of the 3,000 megawatts of solar capacity connected to Duke Energy Corp.’s system went down initially, according to Randy Wheeless, a utility spokesman. Almost 600 megawatts ...

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• 22 September

  China’s tech boom at risk over tax hike plan

  

  Bloomberg The venture capitalists of China are starting to get nervous. Venture investments have driven a boom in technology startups over the past five years, but funding has started to slow in recent months. Now the government is floating new tax policies that could hammer investors, persuading some to pull back on cutting deals until they get more clarity. The ...

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• 22 September

  Hong Kong real estate developers sell low on rate hike, more supply

  

  Bloomberg Property developers are cutting prices in Hong Kong to lure buyers amid the increasing downside risks in the world’s least-affordable housing market. Vanke Property Overseas Ltd. released 231 units of its new project Le Point in Tuen Mun, with prices as low as HK$9,878 ($1,265) per square foot, the lowest in the primary new-home market in about two years, ...

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• 22 September

  New iPhone no help to its assembler Hon Hai

  Bloomberg The contrast between Apple Inc.’s ascension to a $1 trillion stock and the share performance of its biggest iPhone assembler just got even starker. Hon Hai Precision Industry Co. has surrendered its position as Taiwan’s second-biggest stock after six years. Concern is mounting for some Taiwanese Apple suppliers, which are struggling to adjust to a new dynamic of higher-priced ...

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• 22 September

  Tariff tiff turn soy merry-go-round

  

  Bloomberg President Donald Trump’s trade war with China is turning the global soybean market into a merry-go-round. With Brazilian exports drying up at this time of the year, traders are having to get creative to supply the world’s largest buyer. One strategy is to bring US soy to Argentina and ship the South American nation’s output to China, thereby avoiding ...

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• 22 September

  South Korea exports hit one-year high despite trade war

  Bloomberg South Korean exports are holding up just fine so far as the US-China trade war escalates, with shipments jumping by the most in a year during the first 20 days of September. Exports rose 22 percent from the same period a year earlier, the biggest increase since September last year, according to preliminary data released by Korea Customs Service. ...

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• 22 September

  Danske executives to be held accountable as probe deepens

  

  Bloomberg Denmark’s financial supervisor plans to hold board members of Danske Bank A/S personally accountable if the lender is again caught misleading authorities. “Their heads are on the block,” Jesper Berg, director general of the Financial Supervisory Authority, said in an interview as his office resumes an investigation into Denmark’s biggest bank. Danske has admitted that a tiny Estonian unit ...

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• 22 September

  Shadow banker in India misses three debt payments

  

  Bloomberg Infrastructure Leasing & Financial Services (IL&FS), an Indian shadow banker that defaulted on its commercial paper obligation earlier this year, missed payments again. The company, which helped fund India’s longest tunnel, defaulted on three non-convertible notes series, it said in a filing to the stock exchange, without disclosing the value of the debt. It was also unable to meet ...

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• 22 September

  Italy central bank cautions on ‘deficit hike’

  

  Bloomberg The governor of the Bank of Italy urged caution on the nation’s populist government, warning of a negative market reaction and an “unsustainable” risk for the country’s massive debt, as the Five Star Movement pressed for a wider deficit in the 2019 budget. Ignazio Visco, speaking at a conference in Varenna, warned against an unproductive budget-deficit hike given Italy’s ...

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