Hints and tips:
...Altice USA’s chair Alexandre Fonseca has also stepped back....
...the drilling division of Abu Dhabi’s state oil company, marking the first time the Gulf producer has allowed an international partner to buy into one of its services businesses The two deals come after Transocean...
...Only this time, China’s offshore debt is magnitudes larger....
...The most obvious: the tax payment is only that large because of Apple’s vast earnings, which produced $252bn in cash held offshore (as last reported; after the fourth quarter’s iPhone sales the number today...
...This week, Transocean followed by striking a deal to acquire Norway’s Songa Offshore for $3.4bn....
...Boral noted the highly complementary US businesses would have combined revenue of $1.8bn, more than double that of Boral USA....
...Oil and gas companies within the S&P 500 have declined on eight of the past 10 trading days, including 9 per cent-plus drops for Transocean, Marathon Oil, Diamond Offshore Drilling and Murphy Oil....
...That leaves the largest rig owners — SeaDrill, Transocean, and low cost provider Diamond Offshore, with $22bn in gross debt between them — watching nervously as newly restructured companies offer customers...
...For the companies that operate offshore rigs on behalf of oil producers — including Transocean, Seadrill, Ensco and Noble Corp — the slump in crude prices since the summer of 2014 has been brutal....
...Transocean, one of the largest offshore drilling contractors, relocated from the US to the Cayman Islands in 1999, and then to Switzerland in 2008....
...Transocean, an offshore rig operator, skidded 3.3 per cent to $10.52. Industrials, which are also seen as sensitive to economic fluctuations, suffered heavy early selling....
...Transocean, the offshore oil rig operator, has logged the biggest price drop since the beginning of the bull market....
...Transocean, which operates offshore oil rigs, jumped 5.1 per cent to $8.65. Meanwhile, exploration and production company Marathon Oil added 8.7 per cent to $8.03....
...Ensco, Transocean and Diamond Offshore were comfortably among the top 10 decliners on the S&P 500 on Thursday as analysts at Barclays warned that the spending on which drillers rely is not going to pick...
...Transocean, one of the biggest offshore drilling contractors, jumped 7.3 per cent to $15.76....
...If Fossil is threatened by the imminent entry of a big competitor, Transocean, one of the world’s largest offshore drilling contractors, faced further pain from the weaker oil price....
...Ensco, another US offshore rig operator, has $3.3bn in goodwill on its balance sheet as of September, over a quarter of its equity. That amount is much more than peers....
...The west London trader charged with contributing to a sudden crash in US equity markets five years ago set up companies in the Caribbean and moved millions of pounds between offshore accounts in Switzerland...
...The Migrant Offshore Aid Station, a group set up by insurance entrepreneurs Christopher and Regina Catrambone, specialises in helping migrants at sea after several catastrophes in the Mediterranean....
...Following the downgrades, Transocean fell 2 per cent to $39.48. Noble Corporation fell half a per cent to $27....
...Shares of SeaDrill fell 6 per cent to $30.87, Transocean declined 4 per cent to $35.86 and Diamond Offshore declined 4 per cent to $39.83....
...Nabor Industries fell 2 per cent to $25.29 and Diamond Offshore dropped 2 per cent to $43.21....
...Hong Kong offers a way in to offshore stocks, but foreign firms currently have to invest in A-shares and Chinese corporate bonds through quota-based systems known as QFII and RQFII....
...The prospect of further falls has helped send shares in Transocean, one of the largest rig operators, down 20 per cent in the past 12 months....
...The top US derivatives regulator has agreed a framework for policing offshore dealing after forging an 11th-hour compromise with European officials wary of Washington’s reach into other markets....
International Edition