TimeLine Layout

March, 2017

  • 13 March

    Oil steadies below $49 as US drillers boost activity

      Bloomberg Oil steadied below $49 a barrel as US drillers continued to boost activity, countering OPEC’s efforts to drain a global glut. Futures were little changed in New York after falling 9.1 percent last week, the biggest weekly loss since November. Rigs targeting crude in the US rose to the most since September 2015, according to Baker Hughes Inc. ...

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  • 13 March

    EU utility pain worsens as Russian gas jumps most in 7 years

      Bloomberg The price European utilities pay for their natural gas is on a tear. Rates for Russian fuel at the German border last month jumped the most in seven years, extending their gain since September to almost 50 percent, according to the International Monetary Fund. The price of fuel from Moscow-based Gazprom PJSC may increase further even as prices ...

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  • 13 March

    Sugar breakthrough paves way for Indonesia-Aussie trade deal

      Bloomberg Australia is pinning its hopes on sugar to revitalize exports to Indonesia, as it seeks momentum for a free trade agreement that has been mooted for nearly a decade. With two-way trade at its lowest since 2009, Australian Trade Minister Steve Ciobo hailed a recent deal to reduce sugar tariffs from 8 percent to 5 percent, bringing the ...

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  • 13 March

    China’s Doublestar to buy Kumho tire stake in $830mn deal

      Bloomberg China’s Qingdao Doublestar Co. said it has signed an agreement with Kumho Tire creditors to buy a 42 percent stake in the South Korean tiremaker in a deal that could enable Doublestar to further expand in China. The deal, worth 955 billion won, or about $830 million, could help turn Doublestar into China’s largest tiremaker if it can ...

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  • 13 March

    Singapore eases property market regulations

      Bloomberg Whether you look at prices or policy, the property markets in Singapore and Hong Kong are marching resolutely in opposite directions. Singapore has eased some rules in its property market, after more than three years of home price declines. Hong Kong in November tightened some restrictions, after prices rallied following a short-lived dip last year. The curbs in ...

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  • 13 March

    Hong Kong securities regulator to probe CCB International’s IPO work

      Bloomberg Hong Kong’s securities regulator is investigating CCB International Holdings Ltd., the No. 2 underwriter of initial public offerings in the city last year, for its role advising a Chinese seafood supplier on now-scrapped listing plans, according to people with knowledge of the matter. The Securities and Futures Commission has been interviewing staff of the Chinese investment bank and ...

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  • 13 March

    Ford to start producing luxury Lincoln SUV in China by 2019

      Bloomberg Ford Motor Co. will begin producing its upscale Lincoln brand in China by late 2019 after sales almost tripled last year, joining the ranks of automakers localizing production to avoid import taxes in the world’s largest auto market. The Dearborn, Michigan-based automaker will build an all-new SUV model with joint venture partner Changan Automobile Group in the city ...

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  • 13 March

    Wall Street finds next big short in US credit market

      Bloomberg Wall Street speculators are zeroing in on the next US credit crisis: the mall. It’s no secret many mall complexes have been struggling for years as Americans do more of their shopping online. But now, they’re catching the eye of hedge-fund types who think some may soon buckle under their debts, much the way many homeowners did nearly ...

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  • 13 March

    Bovis shares jump amid takeover talks with Galliford try

      Bloomberg Bovis Homes Group Plc jumped the most in eight months in London trading after the UK homebuilder said it’s in talks to be bought by competitor Galliford Try Plc. Bovis said that talks are ongoing with Galliford Try after it rejected an offer from the company. It ended discussions with Redrow Plc over an earlier bid. The stock ...

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  • 13 March

    Wood Group to acquire Amec in $2.7 billion all-share deal

      Bloomberg John Wood Group Plc agreed to acquire Amec Foster Wheeler Plc in an all-share deal that values the UK engineering-service provider at about 2.23 billion pounds ($2.7 billion). The shares of both companies surged. The takeover comes after several years of pressure on profits for service providers in the energy industry as the slide in oil prices forced ...

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