Day: March 6, 2017

Wall Street Cops Reined In as SEC Braces for Trump Budget Cuts

When Wall Street bond dealmakers congregated in Las Vegas last week for their annual get-together, one group of folks was conspicuously absent: SEC enforcement officials. For years now, they’ve been crashing the marquee event, trying to, somewhat awkwardly, mingle and make industry contacts while sniffing around for their next big case.

Deutsche Bank’s Cryan Has New Strategy: Reverse the Old One

Deutsche Bank AG Chief Executive Officer John Cryan tore up his own turnaround plan in an admission that the 17-month-old effort flopped. Germany’s largest bank late Sunday approved measures — most crucially, plans to raise about $8.5 billion in a share sale — that effectively restart what has already been the most turbulent transformation in its recent history.

Kenyan Minister Opposes Regulations to Break Up Vodafone Unit

Kenya’s government opposes using regulation to force East Africa’s biggest mobile operator Safaricom Ltd. to be broken up, after a draft study found the company is dominant in the country’s telecommunications industry, Information, Communications and Technology Secretary Joseph Mucheru said. The government disapproves of measures that would stifle innovation as it wants companies to expand by investing in new products and technology, Mucheru said in an interview Friday from the capital, Nairobi.

Deutsche Bank Shares Tumble In Frankfurt After $8.5 Billion Capital Raising Confirmation

Deutsche Bank stock fell sharply in Frankfurt Monday after Europe’s biggest bank confirmed it will raise around $8.5 billion in capital and sell parts of its asset management business. Deutsche Bank AG stock fell sharply in Frankfurt Monday after Europe’s biggest bank confirmed it will raise around a 8 billion in capital from shareholders and plan the partial sale of its asset management business.

Aberdeen, Standard Life Combine in $13.5 billion Asset Management Tie-up

Aberdeen Asset Management and Standard Life have confirmed plans to create Europe’s second-biggest asset manager in a $13.5 billion all-share merger Aberdeen Asset Management and Standard Life have confirmed plans to create Europe’s second-biggest asset manager in a A 11 billion all-share merger The deal will see Aberdeen shareholders owing around 33% of the combined group, while Standard Life shareholders will received 66.7%. The merged group will remain in Scotland, the companies said, and will have around A 660 billion in assets under management, making it the second-largest in Europe behind Allianz SE .

Nikkei Falls on Strong Yen, N.Korea Missile Launches

Japanese shares fell on Monday in thin trade as the yen firmed and as global geopolitical tensions rose after North Korea fired four missiles, three of which landed in Japan’s exclusive economic zone. Landmine maker Ishikawa Seisakusho jumped 5.1 percent, while Mitsubishi Heavy Industries rose 0.2 percent and Kawasaki Heavy Industries 0.3 percent.

Equity Futures Drop as Risk Appetites Hit

U.S. stock futures dropped but Asian shares were resilient on Monday as investors weighed the near-certain prospect of an interest rate hike in the United States this month against news of China’s slower 2017 growth target. Risk appetites also took a hit on rising geopolitical tensions in East Asia, as North Korea fired four ballistic missiles early in the day, while a spat between China and South Korea over missile defense deepened.

Prosecutor Says Samsung Scandal a Sign of – Chronic Corruption’

South Korea’s special prosecutor accused Jay Y. Lee and other Samsung Group executives of conspiring to create fake documents to mask millions of dollars in bribes funneled to a confidante of the nation’s president. Lee, the de facto head of Samsung, is alleged to have committed perjury when he said he didn’t know his company had paid money to entities controlled by Choi Soon-sil, and that he wasn’t asked by President Park Geun-hye to provide financial support.

CQS New City High Yield Fund Limited : Half-yearly report

Dividend yield of 7.4%, based on dividends at an annualised rate of 4.39 pence and a share price of 59.13 pence at 31 December 2016. Investment and Share Price Performance Your Company’s net asset value increased by 5.1% to 57.5 pence per share during the six months ended 31 December 2016.

Amazon Chief Bezos Expected to Unveil Further Private Space Exploration Plans

The burgeoning space-transportation company owned by Amazon.com chairman Jeff Bezos this week is expected to announce some customers and new initiatives, the latest step toward its long-term goal of building rockets powerful enough to penetrate deep into the solar system, according to industry officials. The moves by the typically secretive Mr. Bezos, these officials said, are anticipated to disclose further details about Blue Origin LLC’s strategy to create a family of reusable rockets initially intended to take tourists on suborbital voyages, and then propel spacecraft into Earth’s orbit and eventually blast both manned and robotic missions to the Moon and various planets.

Saudi Aramco’s Green Energy Push Seen Widening Appeal of IPO

Aramco is the world’s largest oil company, but when it sells shares next year its foray into renewables is what may lure investors who would otherwise be forced to stay away. Saudi Arabian Oil Co., as it is formally called, is considering investments of as much as $5 billion in renewable energy, part of the kingdom’s effort to reduce the amount of oil feeding domestic energy needs.