Hints and tips:
...Chinese developers have stopped restocking steel. Price volatility tells the story. Already the market fears a default by Country Garden....
...News round-up JPMorgan cuts ties with Odey Asset Management (FT) Credit Suisse seeks to strike out Mozambique ‘tuna bonds’ case (FT) Sanjeev Gupta’s Australian steel business tests bond investor interest...
...In 2018, Greensill and Gupta’s businesses became embroiled in a scandal in the Swiss asset management industry, when Zurich-based GAM was forced to liquidate a fund that had invested heavily in illiquid bonds...
...Take New Bond Street to the corner of Bruton Street and admire the Time & Life Building (Michael Rosenauer, 1951-3), which integrates reliefs by Henry Moore on its Bond Street façade....
...ArcelorMittal, one of the world’s biggest steel producers, has announced Aditya Mittal will replace his father Lakshmi as chief executive, with the founder taking up the position of executive chairman....
...It has five mines producing coking coal, a key ingredient in steel making, and three that churn out thermal coal, which is burnt in power stations to produce electricity....
...In 2018, Zurich-based GAM was forced to liquidate a fund that had invested in illiquid bonds that the London-based finance firm had arranged for Mr Gupta’s companies....
...Interest rates on safer forms of debt have fallen to historic lows during the pandemic, sending bond investors scrambling for companies to lend to....
...Cameron even visited the Sydney offices of The Bond & Credit Co, the insurer that was so vital to Greensill’s operations....
...In 2018, Zurich-based GAM was forced to liquidate a fund that had invested heavily in illiquid bonds that Greensill Capital had arranged for Sanjeev Gupta’s companies....
...(FT) ‘We want him home’ It’s been three years since six men were accused by Venezuelan prosecutors of hatching a corrupt plan to refinance up to $4bn of Citgo Petroleum Corp bonds using a stake in the US-based...
...The owner Willy Bogner Jr worked as a cameraman for a few of the Jimmy Bond movies, which is why Moore was often wearing their sportswear....
...It wasn’t an IPO or bond offering, but rather the $11.5bn takeover of Qiagen by Thermo Fisher....
...The asset manager had to restrict investors withdrawing money from its flagship bond funds, due to their exposure to hard-to-sell Greensill debts backing the British steel tycoon Sanjeev Gupta....
...The dispute centred on a $43.5m contract for supply of steel rebar, of which Sinopec said only half had been paid....
...M&A activity can be fickle, and bankers warn that a stock or bond market shock could yet derail corporate tie-ups....
...US Steel and Nucor are down 0.4 per cent and 1.3 per cent respectively after tumbling 11 per cent and 6.5 per cent the day before....
...Mr Singer said no, though he used to own bonds in Mr Trump’s company. Asked if the bonds were high-grade, Mr Singer smirked. “They may have been when they were first issued,” he said....
...These investors bought both equity and bonds in the new enterprises, and were provided with a degree of liquidity through these expanded capital markets....
...Investors started the second quarter on a sour note as a more than 2 per cent drop dragged Wall Street back into correction territory and below key fundamental levels, while bond yields dropped to a two-month...
...[even] stronger, 10 years later, than they were going into the crisis,” says Bob Steel, the US undersecretary for domestic finance from October 2006 until July 2008....
...He added that the “big question” was whether the developments in February marked the end of the bull market for US stocks and bonds....
...With Group M, McKinsey and IEX signed up for 37 per cent of the space in 3 WTC, that just leaves 2 WTC, an address into which News Corp and 21st Century Fox were meant to move....
...On Thursday investors will watch to see if higher steel and materials prices or trade tension have affected first-quarter results at General Motors....
...In a further sign of Russia’s involvement, Mr Dallen said one of his clients had received a bond payment through a Russian bank....
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