Mois : juillet 2019

UK urgently seeking information after reports of Gulf incident

LONDON, July 19 () – Britain said it was urgently seeking further information after reports that a British-flagged tanker had taken a turn into Iranian waters. “We are urgently seeking further information and assessing the situation following reports of an incident in the Gulf,” a spokesman for the Ministry of Defence said on Friday. Reporting

U.S. sanctions four Venezuelan military officers -U.S. Treasury website

WASHINGTON () – The United States on Friday stepped up its response following the death of a Venezuelan navy captain, sanctioning four top officials in Venezuela’s military counterintelligence agency, the U.S. Treasury Department said. U.S. officials last week sanctioned the agency, known as the General Directorate of Military Counterintelligence (DGCIM), freezing all its direct and

UPDATE 2-Political turmoil in Italy weighs on European stocks

() – European shares ended only marginally higher on Friday as worries about the stability of Italy’s government dented optimism from renewed signals the U.S. Federal Reserve will cut interest rates soon. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 19, 2019. /StaffThe pan-European STOXX 600

UPDATE 4-Schlumberger names new CEO as North American business faces softer demand

() – Oilfield firm Schlumberger NV (SLB.N) on Friday named Chief Operating Officer Olivier Le Peuch as its chief executive as the company looks to shore up its world-leading position in oil and gas technology services. The oilfield services provider also posted higher-than-expected second-quarter revenue and a year-over-year profit increase, as demand in international markets

Petrobras picks Warburg Pincus-backed Trident in oilfield re-bid

Brazil’s state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil May 27, 2019. Picture taken May 27, 2019. /Sergio MoraesSAO PAULO () – Brazilian oil company Petroleo Brasileiro SA has chosen a bid from Warburg Pincus-backed Trident Energy as the winner in a final “re-bid” for two oilfields, three sources with knowledge

Two top fixed-income portfolio managers exit Eaton Vance

FILE PHOTO: Kathleen Gaffney, vice president, director of diversified fixed income and lead portfolio manager for Eaton Vance Management, speaks during the Global Investment 2019 Outlook Summit in New York, U.S., November 16, 2018. /Brendan McDermidNEW YORK () – Bond fund managers Kathleen Gaffney and Henry Peabody left Eaton Vance Corp at the end of

UPDATE 1-H2O Asset to reinstate entry fees for some funds

* To restart entry fees of up to 5% on some funds * Follows brief suspension after spate of outflows * Had been hit by Morningstar liquidity, governance concerns (Adds detail from statement, background) By Noor Zainab Hussain and Simon Jessop LONDON, July 19 () – H2O Asset Management, part of French bank Natixis, plans

Jet Airways’ lenders approve interim finance plan for the carrier

FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. /Francis Mascarenhas/File PhotoMUMBAI () – Lenders to Jet Airways (JET.NS) agreed on Friday to provide some interim financing to the bankrupt airline to help it cover legal and other costs, as resolution experts look

US STOCKS-Wall St rises on Microsoft’s beat, rate cut euphoria

() – U.S. stock indexes advanced on Friday as solid results from Microsoft lifted technology stocks and added to an upbeat mood following signs from New York Fed President John Williams that the central bank would lower interest rates this month. Traders walk on the floor of the New York Stock Exchange (NYSE) in New

UPDATE 1-Activist hedge fund Elliott trims stake in UK’s Whitbread

(Recasts with details of previous Elliott stake in Whitbread, other moves by hedge fund) July 19 () – Activist investor Elliott Capital Advisors has trimmed its stake in Premier Inn owner Whitbread to below 5%, a filing here on Friday showed. The Sunday Telegraph reported in May that Elliott had become increasingly frustrated with Whitbread’s

Sri Lanka shares extend gains for 8th session on foreign inflows

COLOMBO, July 19 () – Sri Lankan shares rose for the eight consecutive session on Friday to end at a more than a four-month high, as banking stocks continued to lead gains, while the rupee edged down on high dollar demand from importers. ** The benchmark stock index gained 0.34% to 5,715.14, its highest close

COLUMN-Fed will try to create firebreak to contain downturn: Kemp

(John Kemp is a market analyst. The views expressed are his own) * Chart: tmsnrt.rs/2O0adP5 By John Kemp LONDON, July 19 () – Like booms, recessions help individuals and businesses make sense of changes in the level of economic activity and drive those changes with their impact on spending and savings. As the world economy

UPDATE 2-Unaoil’s former Iraq partner pleads guilty to bribery

(Adds no comment from defendants, Al Jarah, Unaoil) By Kirstin Ridley LONDON, July 19 () – The former partner in Iraq for Unaoil, a Monaco-based oil and gas consultancy, has pleaded guilty to five counts of bribery in the first conviction in a three-year criminal investigation by Britain’s Serious Fraud Office (SFO). Basil Al Jarah,

Prime Focus Ltd’s DNEG prepares for London listing – Sky News

July 19 () – Prime Focus Ltd’s DNEG, a British visual effects company, has appointed bankers to prepare for a London listing that would value the company at « hundreds of millions of pounds », according to a Sky News report here on Friday. The report said DNEG, which worked on films, including Interstellar, Harry Potter and

UPDATE 1-BlackRock second-quarter profit misses estimates

() – BlackRock Inc (BLK.N), the world’s largest asset manager, missed analysts’ estimates for quarterly profit on Friday, as investment advisory and securities lending revenue fell and costs rose. The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. /Toru HanaiIts institutional funds added $87.36 billion in the second

UPDATE 1-China relaxes capital replenishment rules for unlisted banks

(Adds details) BEIJING, July 19 () – China’s banking and insurance regulator said on Friday it is relaxing rules to strengthen unlisted banks’ ability to replenish capital, as part of efforts to boost lending in a battle against the worst economic slowdown in decades. The new regulatory guidance on banks’ preferred shares removed a prerequisite

UPDATE 1-Unaoil’s former Iraq partner pleads guilty to bribery

(Adds further charges, details) By Kirstin Ridley LONDON, July 19 () – The former partner in Iraq for Unaoil, a Monaco-based oil and gas consultancy, has pleaded guilty to five counts of bribery in the first conviction in a three-year criminal investigation by Britain’s Serious Fraud Office (SFO). Basil Al Jara, 70, pleaded guilty on

China, Hong Kong stocks close higher on U.S. rate cut hopes

SHANGHAI, July 19 () – China and Hong Kong stocks ended the week on an upbeat note, after a comment from top Federal Reserve official raised hopes of a U.S. interest rate cut later this month, fuelling risk appetite. ** The blue-chip CSI300 index rose 1.1%, to 3,807.96, while the Shanghai Composite Index gained 0.8%

Sweden’s Loomis finds failings in money laundering oversight

STOCKHOLM () – Swedish cash-handling firm Loomis AB (LOOMb.ST) reported flaws in its anti-money laundering oversight on Friday and vowed to fix them. Loomis launched an investigation into its operations in May after a journalist alleged it was implicated in a Danish money laundering scandal involving foreign exchange agencies. Danish authorities convicted the owners of