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...Barrick shares have also struggled. It has plans to build a copper-gold mine in geopolitically risky Pakistan....
...That has made it challenging to find the right sort of capital to press ahead with long-term projects such as Pakistan’s $7bn Reko Diq mine, which Barrick is developing and which is unlikely to deliver returns...
Good governance is not necessarily a guide to a company’s environmental credentials
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Latest loss of $8.5bn in Texas comes after asset manager tried to make inroads in the Republican state
...Higher rates should attract capital and push up a country’s currency. But rate differentials haven’t changed much in the past few months....
...As Barrick’s hopes for Reko Diq demonstrate, where it’s easy to get copper, it’s already been got....
...Investors could hence starve the former of capital and provide it in spades to the latter, doing their bit for the planet while making outsize returns....
...Among companies on the Prime section, JPX said 9 per cent of those that had not provided capital efficiency plans were considering doing so....
...Assume, then, that TMTG’s weighted average cost of capital falls from more than 20 per cent to 5-6 per cent, the S&P 500’s average WACC. Even then, we’re only at $51....
...“We see these deals as a good sign for the strength and depth of the market, and that’s what we’re telling clients,” said Rob Stowe, US head of equity capital markets (ECM) for Barclays....
The “J Crew blocker” has some problems
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...In the midst of its landmark lawsuit against Apple, the antitrust enforcer noted disapprovingly of the company’s $77bn buyback scheme in 2023: not because it was a lazy deployment of capital but as an indicator...
Australian pension fund CIO discusses sustainable investing amid political uncertainty
...It would continue to use capital and expertise to support clients in their energy transition and managing climate risk....
...The rising interest of activist investors has put pressure on Japanese companies to make more efficient use of capital....
...Mohit Goyal, a managing director at CVC Capital Partners in Mumbai, is leaving the private equity group just as it is making its push into India, Bloomberg reports....
Having failed to make it, more firms may try to fake it
...“The great things about our business is that it is actually not that capital-intensive!...
...Enterprise Ireland is by far Europe’s most active venture capital fund by deal count, according to PitchBook, a VC and private equity platform....
...Uber last week hailed 2023 as an “inflection point” in its history and signalled that it could return capital to shareholders....
...Corporate finance nerds like myself tend to think of deploying excess capital in a simple, quantitative way....
...In fact, it’s almost a third of the entire private capital industry’s overall $13tn of assets under management (zoomable version)....
...Instead, they are a signal that rationality is slowly returning to venture capital....
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