Markets 2 months ago
On Aug. 25, 2014, the euro traded near $1.319 after touching about $1.3185, its lowest level since September 2013, as Mario Draghi said the ECB could use all available tools if euro area inflation weakened further. Brent moved toward $102, German Ifo business climate fell for a fourth straight month, major euro zone stock indexes gained and Spanish, Italian and Portuguese bond yields declined.
Deals & Capital Markets 2 months ago
SpaceX disclosed terms for a five-part senior unsecured notes sale totaling $25 billion, with coupons ranging from 5.35% to 6.65% and maturities from 2031 to 2056. The company said proceeds will repay its bridge loan, cover related fees and expenses, and support general corporate purposes, with closing expected June 26, 2026.
Geopolitics & Trade 2 months ago
Alibaba sued the U.S. government in federal court in San Jose after the Defense Department added it to the June 8 Section 1260H list of 188 entities. The company seeks removal, while the Pentagon cited affiliations with SASAC and MIIT; procurement restrictions tied to listed companies begin June 30.
Markets 2 months ago
MSCI said Indonesia will stay in the Emerging Markets category while it assesses implementation of reforms on shareholder disclosure, investor classification, concentrated ownership monitoring and a higher free-float threshold, with a November 2026 checkpoint for possible reclassification consultation. South Korea remained in Emerging Markets as offshore won convertibility and extended-hours onshore FX liquidity issues persist.
Deals & Capital Markets 2 months ago
Bloomberg reported on June 23 that TDR Capital-backed EG Group has made a confidential submission for a U.S. initial public offering. The company is considering a deal of about $1 billion at a valuation near $9 billion, with timing discussed as soon as July, though terms remain unsettled.
Deals & Capital Markets 2 months ago
SEGRO said it received an unsolicited proposal from Prologis on June 16 offering 0.084 new Prologis shares for each SEGRO share, implying 925 pence a share and about £12.6 billion based on June 23 market inputs. The board rejected the approach, and Prologis must clarify its intentions by July 22.
Geopolitics & Trade 2 months ago
Permanent representatives approved the move without discussion, with formal Council adoption expected June 8. Pax Silica is presented as coordination on supply chains spanning critical minerals, semiconductor design and manufacturing, compute, energy, logistics and data centers. The Commission said the arrangement complements G7 workstreams and does not alter EU decision-making.
Central Banks & Policy 2 months ago
The June 24 summary of opinions from the Bank of Japan’s June 15-16 meeting showed several members backing further policy-rate increases after the June 16 move to about 1.0%. Members cited underlying inflation approaching 2%, accommodative financial conditions, and views that the policy rate still sits below a neutral level.
Deals & Capital Markets 2 months ago
KNDS said it is seeking admission for its ordinary shares on Euronext Paris and the Frankfurt Stock Exchange. Reports said about 20% of the company is planned to be sold to the market, with France and Germany each holding 40% after Germany acquires a stake from Wegmann, implying a valuation of about €15 billion to €18 billion.
Companies & Earnings 2 months ago
Reuters, citing the Financial Times, said German officials plan to discontinue the six-ship F126 programme after delays and project issues and instead procure eight smaller MEKO A-200 frigates from Thyssenkrupp Marine Systems. Rheinmetall had been positioned to assume the prime-contractor role, while the Defence Ministry and company had not commented at publication.
Geopolitics & Trade 2 months ago
The U.S. Treasury's June 22 General License X permits transactions needed to produce, sell, deliver and offload Iranian-origin crude, petrochemical and petroleum products until Aug. 21, including maritime services, dealings involving blocked vessels and U.S. dollar payments. The authorization also allows related U.S. imports, while excluding Cuba, North Korea, Crimea and certain Ukraine regions.
Finance & Banking 2 months ago
Apollo Debt Solutions, a roughly $26 billion private credit fund, said withdrawal requests reached 16.8% of shares for the quarter, up from 11.2% previously, prompting it to apply its 5% redemption limit. The filing indicated about $700 million of gross outflows, $300 million of inflows and net outflows near 3% of NAV year to date.
Energy & Commodities 2 months ago
U.S. jet fuel production rose above 2 million bpd in April and net exports climbed to record levels as Europe and other buyers replaced lost Persian Gulf supply. The IEA said higher refinery output, stronger Atlantic Basin shipments and increased imports have eased near-term jet fuel shortages.
Energy & Commodities 2 months ago
The EU regulation phases in importer disclosure from May 2025, equivalent methane monitoring and verification requirements from January 2027, methane-intensity reporting from August 2028 and an intensity threshold from 2030. U.S. and Qatari stakeholders have said unresolved equivalence standards and LNG traceability requirements could limit compliant volumes entering Europe.
