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...One analyst who covers BP said there had been a very different tone from the company during a capital markets day last October, when the oil group took investors on a field trip to the Permian basin in Texas...
...As the west tries to reduce its oil consumption, Saudi Aramco has turned to China and other markets for growth....
...Oil trading represents about 30 per cent of total revenues, but alongside gas and power trading, the group is also investing in green technologies such as battery storage and biogas....
...Independent traders — a group including privately held Vitol, Trafigura, Gunvor and Mercuria — have been particularly successful, with “five years, back to back, of the best year ever”, said Adam Perkins...
...Castlelake has taken advantage of recent market turmoil to expand its credit portfolio beyond aircraft leases, buying up billions of dollars of consumer instalment loans from fintech group Upstart....
...markets....
...They were about to move into a major acquisition, very capital intensive, asking for a lot of long-term capital to develop the Xstrata merger,” said Vermersch....
...“There are quite a few things you could do in that space that are easier and more logical to do with private capital than it is with public capital,” he said....
...The risk of a “shadow war” between Iran and Israel could be a “live one”, Helima Croft, head of global commodity strategy at RBC Capital Markets, said last week....
...Goldman Sachs’ asset management arm has bought a stake in private credit specialist Kennedy Lewis Investment Management, as it looks to expand its reach in a fast-growing corner of markets....
...The group also dropped its 2035 target....
...A Chinese state-backed miner, such as Zijin Mining, or an Indian group, such as Vedanta, might also seek to trump BHP’s bid or make a play for individual Anglo assets, said Meyer....
...The UK’s equity market has recently been dealt a series of high-profile blows as companies including building materials group CRH and packaging company Smurfit Kappa have opted to shift their primary listings...
...“We are in a global fight for capital and in order to win that fight . . . the UK must take some key and bold steps,” he said....
...Groups such as Vitol and Trafigura, which traditionally relied on political connections, handshakes and logistical skill to move natural resources from remote locations to willing buyers, are increasingly...
...Europe’s funds industry body has thrown its weight behind a French proposal for a small group of countries to forge ahead with a capital markets union, in a sign that investors are growing increasingly frustrated...
...Volatility in commodity markets due to geopolitical tensions, war and the energy transition have supercharged profits for traders, increasing the financial resources available to attract talent....
...It would also help BHP, the world’s largest mining group by market value at $143bn, to cement its position as the top copper producer, generating about 10 per cent of global mined supply....
...In 2022 the group doubled its shareholder equity to $25.8bn, according to its last set of accounts....
...“Capital markets is on the political agenda in pretty much every finance ministry across Europe,” said William Wright, founder of markets think-tank New Financial....
...The commodity trading industry made record estimated profits of $104bn last year, a McKinsey report said, even as market volatility decreased and earnings at some of the biggest groups fell....
...In 2023, it traded an average of 5.5mn barrels of oil a day, representing about 5 per cent of the global market, and 21mn tonnes of copper, aluminium and other non-ferrous metals....
...Follow This, an Amsterdam-based green shareholder group, and Arjuna Capital, a US registered investment adviser, said that in response to the lawsuit filed by Exxon last week they had decided to abandon...
...Until recently, no group had produced more energy from fusion than the reaction consumes — a milestone known as energy gain, or scientific break-even....
...The changes will shrink the size of the leadership group from 11 to 10 and will also reduce the number of women on the team from six under Looney to five....
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