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...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....
...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...
...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....
...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....
...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....
...In 2022 the group doubled its shareholder equity to $25.8bn, according to its last set of accounts....
...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....
...“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....
...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....
...Total capital spending next year is forecast to be between $48bn and $58bn, compared with $49.7bn in 2023 and $37.6bn in 2022....
...“For one, Swiss authorities signal to the market that they do not tolerate circumvention via subsidiaries in places like Dubai,” he said....
...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....
...Helima Croft, head of commodities research at RBC Capital Markets, who visited Riyadh last month, said Saudi energy officials were relaxed about maintaining the cuts for longer....
...The state-owned group sold a 1.7 per cent stake on the Saudi stock market in 2019, raising about $29bn in a blockbuster initial public offering....
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