Oil Market Turns Upside Down as Shale Rushes to Hedge Post-OPEC
U.S. shale oil companies are using the post-OPEC rally to hedge their oil price risk for next year and 2018 above $50 a barrel, bankers, merchants and brokers said, pushing the forward oil curve upside down.The rush to hedge -- locking in future cash flows and sales prices -- could translate into higher U.S. oil production next year, offsetting the first output cut by the Organization of Petroleum Exporting Countries in eight years. As such, the producer group could end throwing a life-line to ..>> view originalFormer Israeli business tycoon sentenced to two years in jail
TEL AVIV Nochi Dankner, once one of Israel's most powerful businessmen who lost his business empire in the global financial crisis, was sentenced on Monday to two years in jail after being found guilty in July of manipulating share prices. Dankner's companies included a major supermarket chain, cellphone operator, airline and one of the country's main newspapers.In February 2012, after things had turned sour for his business empire, Dankner propped up the price of shares in his conglomerate ID..>> view originalAixtron Sees Slim Path to Save China Sale After Obama Order
Aixtron SE was left with a narrow path to salvage its sale to Chinese investors after U.S. President Barack Obama limited his opposition to the semiconductor-equipment supplier’s U.S. assets.While Obama upheld a recommendation by the Committee on Foreign Investment in the U.S. (CFIUS) that the sale to Grand Chip Investment GmbH should be stopped, he appeared to link his decision to the U.S. business. That means Aixtron, based in Herzogenrath, Germany, could sell the U.S. unit or modify its lega..>> view originalUK services PMI rises to 10-month high in November: Markit
LONDON Businesses in Britain's services sector grew at their fastest pace since January last month, a survey showed on Monday, and the broader economy kept up its momentum in late 2016, even if firms have some worries about the year ahead.The Markit/CIPS services purchasing managers' index (PMI) - a closely watched gauge of the services sector - rose to 55.2 inNovember from 54.5 in October, beating all the forecasts in a Reuters poll of economists.Despite a dip in the equivalent survey of man..>> view originalTrump's misleading numbers about the Carrier deal
The Post's Fact Checker took a closer look at the claims President-elect Donald Trump made during a speech in Indiana on Dec. 1, about the deal to keep jobs at a Carrier plant there that were due to be shipped to Mexico. (Jenny Starrs/The Washington Post) “But I will tell you that United Technologies and Carrier stepped it up and now they’re keeping — actually the number’s over 1,100 people, which is so great, which is so great …. I just noticed — I wrote down because I heard it — since a..>> view originalDakota Pipeline Project Halted as Obama Administration Denies Permit for Last Leg
The Obama administration said Sunday that it had denied a permit needed to complete the last leg of an oil pipeline across the Midwest, prompting cheers from opponents but warnings that the move could be short-lived since President-elect Donald Trump supports the project. The nearly 1,200-mile Dakota Access pipeline, extending from North Dakota across parts of South Dakota and Iowa and ending in Illinois, is nearly complete, except...>> view originalPanasonic in talks to buy ZKW to accelerate push into auto electronics: so...
TOKYO Japan's Panasonic Corp (6752.T) is in talks to buy European automotive light maker ZKW Group, accelerating its push into the automotive electronics market, a person familiar with the matter said.The deal could be worth up to $1 billion and the two companies could reach a basic agreement as early as this month, the Nikkei business daily reported Monday.An acquisition of ZKW would expand Panasonic's automotive lineup, which currently centers on batteries and navigation systems, as it shif..>> view originalShenzhen-Hong Kong Trading Link Gets Off to Slow Start
HONG KONG—The opening of a trading link between the Hong Kong and Shenzhen stock markets met with a muted response from investors. At the end of the trading day Monday, investors based outside China had piled around 2.71 billion yuan ($393.5 million) into the Shenzhen market—home to some of the country’s fastest-growing companies in sectors like technology, pharmaceuticals and consumer goods—while Chinese investors had put 850...>> view originalRescue of Italian bank Monte Paschi in danger after Renzi's defeat
MILAN A 5 billion euro ($5.33 billion) rescue plan for Italian bank Monte dei Paschi di Siena (BMPS.MI) hung by a thread on Monday after Prime Minister Matteo Renzi's heavy defeat at a weekend referendum tipped the country into political turmoil.The bank, saddled with bad loans, needs to raise the money by the end of the month to avoid being wound down, but Italy now faces early elections after Renzi said he would quit to take responsibility for the defeat of his constitutional referendum.Mont..>> view originalRBS agrees to $1 billion payout over 2008 fundraising case
LONDON Royal Bank of Scotland (RBS.L) has reached a settlement with the majority of shareholder groups over allegations it misled them during a fundraising at the height of the financial crisis, but still has to strike a deal with thousands of smaller retail investors.The state-controlled British bank said on Monday it had agreed a deal with three of the five investor groups involved in the lawsuit to pay out 800 million pounds ($1 billion) to be split across all five of the groups. The split ..>> view original
Wednesday, December 14, 2016
Oil Market Turns Upside Down as Shale Rushes to Hedge Post-OPEC and other top stories.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment