August, 2016

• 17 August

  Oil futures halt rally as US fuel supplies reported to rise

    Bloomberg Oil halted gains near the highest closing price in five weeks as industry data showed U.S. gasoline stockpiles expanded, keeping supplies at the highest seasonal level in more than two decades. Futures were little changed in New York, having added 12 percent the previous four sessions after Saudi Arabia said it was prepared to act to stabilize markets. ...

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• 17 August

  Australia LNG export boom nips Santos

  

    Bloomberg After spending billions of dollars constructing a world-class liquefied natural gas export project in Australia, Santos Ltd. has found itself short of gas. The country’s third-largest energy producer, which isn’t pumping enough of its own gas to feed its Gladstone LNG plant yet, is having to buy expensive local supplies to fill the gap. Meanwhile, prices for the ...

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• 17 August

  ‘Nickel emerging as best bet for investors’

  

    Bloomberg Nickel’s rally is only just getting started, making the metal an attractive bet for investors, according to Jinchuan Group, China’s biggest producer of the refined metal. Tightening global supplies because of a mining clampdown in the Philippines and rising demand from the stainless steel industry in China will push prices higher even after they climbed 35 percent from ...

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• 17 August

  India courts investors in trillion-dollar power plan

    Paris / Bloomberg India urged investors to capitalize on a trillion-dollar opportunity that will emerge over the next 15 years when power consumption is expected to quadruple. Investors should bring advanced technologies and “meticulous planning” to the electricity industry, Power Minister Piyush Goyal said on Wednesday at an India-Japan joint seminar on smart meters in New Delhi. The country ...

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• 17 August

  China pipeline guidelines aim to boost gas demand

  

    Bloomberg China’s latest attempts at reforming the country’s extensive pipeline network are aimed at lowering prices for end users and boosting gas demand, analysts said Wednesday after the country released draft guidelines. The National Development and Reform Commission proposed setting gas transmission fees for companies rather than for individual pipelines, the country’s top economic planner said in the policy ...

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• 17 August

  Philippine food giant buys Oz snack maker

    AFP Philippine food giant Universal Robina Corp said Wednesday it would buy Snack Brands Australia for US$460 million, the latest big deal in a global shopping spree by Filipino firms reflecting the nation’s economic rise. URC said it had sealed an agreement to buy the Australian company — maker of popular local brands including Kettles, Thins, CC’s and Cheezels ...

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• 17 August

  ABN Amro group jumps as profit beats estimates

  

    Bloomberg ABN Amro Group NV jumped the most in almost six months after second-quarter profit beat estimates and Chief Executive Officer Gerrit Zalm announced plans to cut costs by about 200 million euros ($225 million). Underlying net income climbed 10 percent to 662 million euros from a year earlier, the Amsterdam-based bank said in a statement on Wednesday. That ...

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• 17 August

  Citigroup taps JP Morgan executive for technology role

  

    BLoomberg Citigroup Inc. hired Gavin Michael from JPMorgan Chase & Co. to oversee technology for its consumer bank. Michael replaces Mark Torkos, who retired in July, New York-based Citigroup said Tuesday in an e-mailed statement. He starts Nov. 14 and will report to Stephen Bird, chief executive officer of the global consumer bank, according to the statement. Michael, who ...

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• 17 August

  JPMorgan hires Sakagami as chief Japan equity strategist

  

    Bloomberg JPMorgan Chase & Co. hired Ryota Sakagami from SMBC Nikko Securities Inc. as its chief Japan equity strategist, filling a position left vacant since Jesper Koll left the U.S. bank last year. Sakagami joined JPMorgan in Tokyo on Wednesday, the brokerage said in an e-mailed statement to Bloomberg. He was ranked first among strategists in the country from ...

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• 17 August

  Nomura Americas CEO to get guaranteed pay

  

    Bloomberg David Findlay, chief executive officer of Nomura Holdings Inc.’s Americas business, received his full compensation for last year as investment bankers took deep cuts, causing frustration and anger across the struggling unit, people familiar with the matter said. Findlay, who has run the New York-based business since 2012, got a guaranteed $5 million package, while dealmakers and advisers ...

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